Financial Management Challenges: Globalization, Technology, and Transformation Presented/Narrated by Frank Sanders February 26 th , 2017
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Financial Management Challenges: Globalization, Technology, and Transformation
Presented/Narrated by Frank SandersFebruary 26th, 2017
Financial Management Challenges: Globalization, Technology, and Transformation
Presentation based on the paper by Ilie, L. (2015). Challenges for financial managers in a changing economic environment.
Financial Management Challenges:
Globalization, Technology, and Transformation
Finance is the life-blood of the organization
Every organization & every person performs financial management activities to some degree
Globalization, Technology, and Transformation
Globalization - Ilie (2015) & Moller (2012)
Integrated financial system able to respond to changes in market conditionsFinance provisioned with tools supporting planning, forecasting, and budgetingIndividuals have Internet tools and resources for financial management
Globalization, Technology, and Transformation
Technology Ilie (2015), Everest Research Group (2016), & Yoni (2016)Corporate finance processing functions outsourced, more services to comeIndividual finance, electronic banking, Internet financial services for investing/savings
Globalization, Technology, and Transformation
Transformation Ilie (2015), Chua (2013), & Gattenio (1997)
Corporate finance faced with large data, opportunity for increased value-added analyticsIndividual moving to Internet financial services, but security & privacy issues
Globalization, Technology, and Transformation
Conclusion
Many challenges to the function of financial managementCorporate finance has more than the three discussedIndividual financial management environment is dynamic, but privacy/security issues
ReferencesChua, F. (2013). Big data: its power and perils. Retrieved from The Association of Chartered Certified Accountants, http://www.accaglobal.com/content/dam/acca/global/PDF-technical/futures/pol-afa-bdpap.pdf , 1-38.Everest Group Research, Everest group peak matrix for service providers, focus on Accenture (July 2016). Retrieved from Accenture Everest Group website: www.everestgrp.comhttps://www.accenture.com/t20151015T063405__w__/us-en/_acnmedia/Accenture/Conversion-Assets/DotCom/Documents/Global/PDF/Technology_10/Accenture-Everest-Group-PEAK-Matrix-for-FAO-Service-Providers , 1-19.Gatteno, C. (1997). Finance transformation; Making it work Motivating your company to embrace change, Journal of Accountancy, January, 52-55.Ilie, L. (2015). Challenges for financial managers in a changing economicEnvironment. Paper presented at the 22nd International Economic Conference IECS 2015 Economic Prospects in the Context of Growing Global and Regional Interdependencies, IECS 2015, 726-730.Moller, B. (Producer). (2012, exact date unknown). Transcript of audio podcast. The world is not flat: The changing role of finance in todays global economy, Retrieved from www.accenture.com https://www.accenture.com/t20150523T051820__w__/ca-en/_acnmedia/Accenture/Conversion-ssets/DotCom/Documents/Global/PDF/Strategy_1/Accenture-Consulting-Finance-Enterprise-Performance-Transcript.pdf , 1-4.Yoni, A. et al (2016). Fin-Tech transforming finance. Retrieved from The Association of Chartered Certified Accountants, http://www.accaglobal.com/content/dam/ACCA_Global/Technical/Future/FinTech-transforming-finance.pdf , 1-15.
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