3 Questions CFOs Should Ask About Automation
With the increasing rise of automation, lots of people are wondering what the future of work will look like. Whether you’re talking about chatbots, robotic process automation or driverless cars, it seems like it won’t be long before the robots take over.
But is that the reality, or is that your anxiety talking?
It’s true that automation is on the rise, but automation isn’t the end of work. As this video points out, fears about automation aren’t new. And while automation has made certain positions—like the switchboard operator—unnecessary, automation also creates opportunity.
REDEPLOY YOUR TEAM BY AUTOMATING LOW VALUE FINANCE AND ACCOUNTING TASKS
As an example, consider the world of Finance and Accounting, where the number of tasks that are repeatable, low value and high volume can be a drain on your resources. What if, instead, you could redeploy your team to focus on high value, analytical work—the kind of work that requires critical thinking and leads to innovation? The result: Workers that have the opportunity to develop their skills and take on more responsibility in an environment committed to fostering and retaining talent.
For CFOs who still think spreadsheets and gut decisions are the best way to do business in the 21st century, ask yourself these questions:
- Will automating certain functions within Finance and Accounting improve efficiency and accuracy, or is manual entry still the best, and most accurate, way to complete low value, high volume work?
- Would automation free your team to focus on projects that could make your organization more profitable and innovative?
- Will embracing certain aspects of automation give you control of your organization’s data in ways that encourage strategic, long-term thinking?
AUTOMATION ISN’T THE END OF WORK
The rise of automation has, understandably, made people anxious. But as history has proven, automation doesn’t mean less work. Instead, it creates opportunities and leads to innovation. Keeping that in mind will help you future proof your Finance solution while giving your workforce the freedom to do things they’ve never done before.