Digital Future for Accountants

This is the first of a series of five articles, summarising views of leading accounting professionals leading up to the Accounting & Finance Show Asia 2023. This article gathers opinions of leading CFOs give guidance on how to navigate and compete using the digital trends that are impacting accounting now. #digitaltrends #ai #accounting. See what the CFOs of #mcdonalds , #volvo ,#loreal #datalogic #astrazeneca and others have to say.

Summary of the CFOs' answers:

Siew Kim Beh: Chief Financial and Sustainability Officer Lodging CapitaLand

• Stays up-to-date on digital technology trends through attending conferences, industry events, webinars, and online courses.
• Identifies automation technologies, AI, RPA, advanced data analytics, cloud computing, and blockchain as the biggest digital trends for accounting and finance professionals over the next five years.
• Initially attracted to accounting and finance due to their importance in driving financial success and providing strategic decision-making insights.
• Stays in the field due to the opportunities presented by integrating technology and automation to improve processes and efficiency.

Alison Bertholon APAC Finance Director Volvo Group Singapore

• Advises accounting and finance professionals to diversify their skillset and explore new technologies' impact on their business.
• Emphasizes the importance of developing social and communication skills to differentiate from AI tools.
• Believes that ChatGPT and generative AI will transform accounting and finance by automating routine processes and enabling complex analyses.

William Foo Group CFO Luxasia

• Stays up-to-date on digital technology trends through regular reading of newspapers, articles, and magazines.
• Foresees that leveraging Generative AI will be a game changer for the accounting and finance industry.
• Advises professionals to focus on their strengths while actively working on improving their weaknesses.

Tanisha Govindarajan: Region CFO Professional Products Division L’Oreal

• Advises companies starting their digital transformation journey to have a long-term vision and proceed step by step.
• Suggests choosing areas that create the greatest value and enable the teams to achieve quick wins.
• Believes that adapting to AI and utilizing big data for predictive modeling will be significant digital trends for accounting and finance professionals in the next five years.

Yanti Lawidjaja: CFO McDonald’s Indonesia

• Advises companies starting their digital transformation journey to have commitment from top and middle management and strong endurance.
• Was initially attracted to accounting and finance due to her love for numbers and remains in the field as she enjoys the evolving role of finance as a business partner.
• Encourages professionals to master accounting and finance principles and effectively communicate financial messages in simpler terms.

Vincent Lim: CFO Asia Pacific Datalogic

• Urges companies in various industries to take digital transformation seriously, as the finance field has not progressed as much as the IT field.
• Stays up-to-date on digital technology trends through continuous learning, even if it's not directly linked to his work.
• Encourages other professionals to read and follow conferences and reports on finance digital technology.

Saj Molaee CFO Astra Zeneca Singapore and Indonesia

• Advises companies starting their digital transformation journey to have a clear vision and strategy aligned with company objectives.
• Foresees advancements in AI, machine learning, automation, blockchain integration, data analytics, and visualization tools as the biggest digital trends for accounting and finance professionals in the next five years.
• Leveraged accounting and finance technology in his company through RPA, advanced data analytics, and collaborative platforms.

Lynn Wong CFO and Director Siemens Logistics

• Stays up-to-date on digital technology trends through reading publications, blogs, and reports, attending networking sessions, and relevant conferences.
• Initially attracted to accounting and finance due to the analytical nature of the field and the possibility of working with numbers.
• Advises professionals to embrace continuous learning, attend conferences and webinars, pursue certifications, and stay informed through publications and networking to stay ahead in accounting and finance.