The finance function is facing what is possibly the biggest era of transformation in its history. With business’ expectations rising, how must the finance function adapt its direction to deliver on these rising prospects? What new level of financial advice will be needed for the future? Find out by downloading your complimentary Robert Half "Finance 2020 - Closer than you think" report today!

1. roberthalf.com.au
© 2017 Robert Half. RH-0117-AUS-ENG
roberthalf.com.au
© 2017 Robert Half. RH-0117-AUS-ENG
FINANCIAL ADVICE FOR THE FUTURE
FINANCE 2020

2. roberthalf.com.au
© 2017 Robert Half. RH-0117-AUS-ENG
With business’ expectations rising,
how must the finance function adapt
its direction to deliver on these
rising prospects?
What new level of financial advice
will be needed for the future?
THE FINANCE FUNCTION
IS FACING WHAT IS
POSSIBLY THE BIGGEST
ERA OF TRANSFORMATION
IN ITS HISTORY

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© 2017 Robert Half. RH-0117-AUS-ENG
DIGITISATION STRATEGY
PERFORMANCE STAKEHOLDER
MANAGEMENT
THE FINANCE
FUNCTION
WILL NEED TO
FOCUS ON
THE FINANCE FUNCTION NEEDS TO EVOLVE

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© 2017 Robert Half. RH-0117-AUS-ENG
5
(DE)CENTRALISATION
OF ACCOUNTING
OPERATIONS
4
HARNESSING/
MANAGING
BIG DATA
2
MEETING
REGULATORY
COMPLIANCE
MANDATES
3
MEETING
ACCOUNTING
AND FINANCIAL
REPORTING
STANDARDS
TOP 5 INITIATIVES THAT THE ACCOUNTING AND
FINANCE FUNCTION WILL BE FACING BY 2020
1
KEEPING PACE
WITH CHANGING
TECHNOLOGY
5
thinkstockIZ_458905973
WHAT DOES THE FUTURE HOLD?

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© 2017 Robert Half. RH-0117-AUS-ENG
Most common areas of investment
for digitisation:
• Data analytics
• Compliance and regulation
• Fraud detection and risk management
• Accounting processes
• Financial reporting
AUTOMATION IS SHAPING
THE FINANCE FUNCTION

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© 2017 Robert Half. RH-0117-AUS-ENG
• Increase efficiencies and effectiveness
of financial processes
• Reduce or remove high
margin processes
• Keep up with the unique
demands of their business
• Enable customisation and
development to facilitate
company growth
WHY IS WORKPLACE
AUTOMATION SO
IMPORTANT?

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© 2017 Robert Half. RH-0117-AUS-ENG
CFOs: THE NEW CHIEF PERFORMANCE OFFICER
WITH THE FINANCE FUNCTION SET TO EVOLVE,
SO WILL THE ROLE AND RESPONSIBILITIES OF THE CFO -
TO BECOME A CHIEF PERFORMANCE OFFICER (CPO).
FINANCIAL
REPORTING
DEVELOPING BUSINESS
STRATEGY
DRIVING BUSINESS
PERFORMANCE

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© 2017 Robert Half. RH-0117-AUS-ENG
EXPECTATIONS OF THE FINANCE FUNCTION BY 2020
25%
24%
23%
10%
10%
Internal and external stakeholder communication
Efficient time management combined
with higher work volume
Commercial business opportunities
Corporate governance and shareholder value
Real time strategic insights
Efficient cross-departmental business partnering8%
THE FINANCE FUNCTION WILL BE
MORE ACCOUNTABLE TO STAKEHOLDERS

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© 2017 Robert Half. RH-0117-AUS-ENG
THE BIGGEST HURDLES FOR THE FINANCE FUNCTION
Reluctance to change
Lack of investment in the finance function
Lack of expertise
Wider business expectations and pressures
System upgrades or new systems
CHANGE DOES NOT COME WITHOUT CHALLENGES
25%
24%
19%
17%
15%

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© 2017 Robert Half. RH-0117-AUS-ENG
38%
Financial software
packages
25%
Analytical skills
21%
Accounting and financial
reporting standards
16%
Regulations/risk
management/
compliance
IMPORTANT TECHNICAL SKILLS FOR FINANCE
PROFESSIONALS TO DEVELOP IN THE NEXT 5 YEARS
THE ESSENTIAL SKILLS TO HAVE

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© 2017 Robert Half. RH-0117-AUS-ENG
34%
Leadership
24%
Communications
21%
Commercial
acumen
14%
Flexibility/open
to change
7%
Strategic
change
THE SOFT SKILLS THAT WILL BECOME ESSENTIAL
FOR THE FINANCE FUNCTION
THE ESSENTIAL SKILLS TO HAVE

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© 2017 Robert Half. RH-0117-AUS-ENG
Identify areas for
digitisation and
automation
Create a
competency
framework
Maximise digital
investment
Perform a gap
analysis
Optimise
collaboration with
the wider business
Create a talent
pipeline and invest
in professional
development
Embrace
change
Establish attraction
and retention
strategies1
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thinkstockIZ_166766241
8 KEY STEPS FOR CFOs TO FOCUS ON
1
5
2
6
3
7
4
8

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© 2017 Robert Half. RH-0117-AUS-ENG
FINANCE 2020
Closer than you think
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