At a time when growth opportunities are hard to identify and even harder to capitalise upon, finance is being challenged more than ever to give businesses the edge. The challenges from new and existing stakeholders around conventional approaches to reporting are also putting increased pressure on finance at a time when cost is still high on the agenda. In such an environment, how will your finance function react and what principles should you look to use to build your function for the next decade?
In this paper we explore the potential future direction of finance - not through predictions or setting out what we believe the vision to be but by revisiting some of the key principles upon which finance and accounting were founded and looking at how these principles may shape the future of finance.
The 4 principles of Navigation, Mediation, Resilience and Connectivity are focused on how finance can make itself more effective at enabling and driving strategy, mediating external stakeholders, making the organisation more resilient and streamlining itself by connecting different areas.