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Beyond technical expertise In terms of taking on essential skills beyond just technical expertise, Wong says becoming a standout finance leader definitely takes more than just mastering the numbers. Wong says the ability to connect financial insights to the broader business landscape is crucial. “A
This is the power of Financial Information Systems (FIS). Financialdata is no longer just about tracking income and expenses; its a strategic tool that helps businesses make smarter, faster, and more informed choices. Often, finance teams work separately from sales, operations, and HR, leading to inconsistent financialdata.
Not only does this make your department more efficient, but it also builds problem-solving and leadership skills. If someone struggles with presenting financialdata, offer tips, resources, or even a mentor to help them improve. Breaking out of this bubble is critical for growth.
As a CFO in South Africa, you’re not only responsible for financial oversight but also for shaping the culture and direction of your company. Effective leadership goes beyond managing numbers—it involves cultivating an environment where teams thrive, innovation flourishes, and strategic goals are achieved.
This early encouragement played a key role in shaping my future, as it introduced me to the world of business and numbers. I quickly realised I had a natural affinity for finance and enjoyed working through financialproblems. From that point, I shifted my focus to commerce studies, starting in Standard 7 (Grade 9).
Now, beyond interpreting financialdata, we’re now also embracing sustainability reporting and assurance – a rapidly growing field." AI can also uncover hidden trends and potential risks in vast datasets, enhancing decision-making and financial controls," Abrol notes.
The CFO role is multi-faceted and includes everything from financial planning and analysis to business budgeting, financial decision-making, and risk management. CFOs typically have a deep understanding of economic theory and practice and strong analytical and problem-solving skills. Financial Manager.
Example: A multinational corporation recently integrated AI to streamline their financial reporting process. The AI system was trained to extract relevant financialdata from various departments, standardize it according to the company’s reporting format, and develop preliminary financial reports.
I started to like numbers and did very well in Math. Of the many current responsibilities, I enjoy using financialdata and providing the insights to influence operational and strategic decisions the most. Thinking beyond numbers and building trust Numbers are not everything to the business and management team.
As technology crunches the growing volumes of data, soft skills like critical thinking, problem-solving, and communication will become crucial for Finance to succeed. #1 Without AI, employees are burdened with hours of monotonous tasks like reporting and data reconciliation. 1 – Let AI do the heavy lifting.
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