Financial controllers must change with technology - expert
Many businesses are now adopting technology and digitisation as key drivers of business drivers as they seek to tap into new markets ushered by technology. FILE PHOTO
What you need to know:
- Industries such as banking and media, among others have been heavily affected by the digital transformation.
- Ms Beatrice Isagayita, the ACCA Uganda head, said in this digital age they are seeking to illuminate the role of chief finance officers in building sustainable business models.
Kampala. Businesses must put in place strategies that will stand the realities of digital disruptions and technology, an expert in finance transformation, has said.
Speaking during the second edition chief finance officers awards organised by the Association of Chartered Certified Accountants (ACCA) and Deloitte, Ms Carryn Tennent, the Deloitte South Africa director consulting business, said emerging technologies and the digitisation spectrum have reshaped business models, which finance and accounting practitioners must embrace.
“Business models will not remain untouched, skills and capabilities will keep changing, digital disruption will impact the nature of demand and expectations on what an accountant is and does,” she said, noting that the fourth industrial revolution, triggered by digital technologies, has destabilised business sectors, key among them the accounting and financial function.
“These developments will change the way of doing business, and will change us and society as human beings,” she said.
Many businesses are now adopting technology and digitisation as key drivers of business drivers as they seek to tap into new markets ushered by technology.
Industries such as banking and media, among others have been heavily affected by the digital transformation.
Ms Beatrice Isagayita, the ACCA Uganda head, said in this digital age they are seeking to illuminate the role of chief finance officers in building sustainable business models.
“The role of chief finance officers has changed over time and at the same time technology is impacting on the way businesses are being conducted globally. We must adapt,” she said.
