WORLD ACADEMY OF INFORMATICS AND MANAGEMENT SCIENCES
recognized.
Expertise
in
Supporting
Partnering for value, to influence how
accounting and
decision making the organization creates and preserves
financial matters
and performance value
has, for a long
management
time,
provided
The CFO usually Business partnering services may be
accountants with
works
closely provided by: individuals deployed to
security
of
with the CEO to work
alongside
business
unit
employment and
support him or managers; a multi-disciplinary team in
good
career
her in running the a centre of
prospects.
organization.
expertise; or a hybrid model, where
This expertise can
Many businesses some support is provided locally, but
be leveraged and
develop
and an expert team is deployed to tackle a
developed where
deploy
finance problem or guide a major initiative.
teams
work
professionals as
together. Teams
business partners
allow
to cascade the
specialization and
CFO’s influence
collegiate
through
the
working shares
business.
expertise. Lower
Management
Specialists generating further insights
value work can be
information,
in their areas of specialism
delegated
and
including FP&A
supervised,
and data analytics
providing
Accountants tend The production of routine management
learning
to
focus
on information
is
already
being
opportunities for
financial analysis. automated.
tomorrow’s
Data
usually Managers have dashboards on their
experts.
‘belongs’
to desks so they can monitor current
Accounting
whoever owns the performance.
operations
process
that Self-service tools allow interrogation,
SSCs, whether in-
generates
that so managers can identify the root
house (captive) or
data. This means causes of performance. Problems or
operated by a
their analysis is opportunities can be addressed
service provider
not subject to the promptly as they emerge.
(outsourced),
same rigor that Advanced data visualization and
have
the
finance analytics can provide insights to
industrialized the
professional
enable more accurate driver-based
management of
applies.
forecasting and predictive modeling.
accounting
There is a need Finance professionals can increase
processes.
for finance to act their focus on providing ad hoc expert
Rules-based
as a broker of support for bigger decisions or
processes
are
information that strategic projects.
delegated
to
can assemble and They can question and investigate, to
improve
validate
the constantly improve the shared
efficiency.
The
analysis presented understanding of how the business
expertise needed
to
decision- generates value.
most in SSCs is
makers.
They can also scan the horizon, and
process
develop and help to formulate
management and
strategies, so the business can be agile
change
in how it continually adapts its
management,
business model.
especially
Subject
matter Specialists generating further insights
managing teams
expertise
in their areas of specialism
and
migrating
processes
to
SSCs.
Accounting and
management
information
systems
Information
systems
are
www.waims.co.in
ISSN : 2278-1315
Concentrating subject matter expertise
within teams can improve efficiency.
Teams may work in shared service
centres (SSCs) or in centres of
excellence closer to the business.
Experts from different disciplines (for
example, logistics, data analytics or
computing), can work together on the
same team to better support the
business.
New technologies, especially the use
of cognitive computing, already offer
the potential to enable greater
efficiency.
In the near future, blockchain will
bring greater transparency and enable
sharing of trusted information.
Assembling and extracting data and
providing limited insight
SSCs are expanding laterally to handle
processes end to end, across
professional disciplines.
They are also expanding vertically to
offer higher value services, for
example to FP&A, management
reporting or business partnering.
Robotic process automation is already
here; embedded controls and cognitive
computing are coming soon.
Blockchain is not far off. Labor
arbitrage has supported the business
case for offshoring. Automation limits
that benefit. The quality of service or
level of expertise, and the value they
can contribute has become more
important than being low cost.
Integral rather than auxiliary
IT will be fully integrated. Cloud
computing provides scalability.
ENDEAVOR 2019 | WAIMS ACADMIC PRESS
36 | P a g e