CIMA E1 Syllabus D. Shape And Structure Of The Finance Function - Transformation Of The Finance Function - Notes ^{6 / 9}

Information to Impact Framework Revisited

Technology and automation will play an important role in all of the activities of the finance function but will have the larges impact on the assemble and analysis activities.

This will free up the resources of the finance function professionals and they will now they will be able to focus more on the advising and applying/executing activities.

New Competences Required For Finance Professionals

As times are changing, financial professional jobs will require new competencies to be effective. 

This is because of the increase in automation of the tasks that finance professionals would normally carry out. 

Examples of these are: foreign exchange transactions and reconciliations both becoming increasingly automated.

Some of these new competences include:

• Technology design knowledge

• Systems analysis

• Emotional intelligence

Therefore features of the contemporary finance function include:

-Creating and communicating insights
-Analysing information that has often been generated automatically