Remote and Automated: this is what financial management will look like in the future

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The cloud as the foundation of the new model
In the coming years, we will see the consolidation of work from home , or at least hybrid models, with some days in the office and others at home. This will require a new approach to managing teams and employees – a more flexible, empathetic approach with a focus on communication – often virtual.

At the same time, the incorporation of new technologies , with a view to automating processes, will be the basis of a new paradigm of financial management. This is where the fundamental role of cloud tools comes in: whether to enable remote working or to streamline real-time access to all business data.

Technology is the crystal ball that will allow the CFO to iran whatsapp number database on forecasting, projecting and planning the future of the business.

Remote management , what is its impact on financial management?
1- A gain in team productivity
After the drastic change that led to teleworking becoming a reality, it became clear that the productivity of workers and companies, in many cases, even increased. For this reason, this will be a trend that will become more pronounced in the future and managers will have to equip themselves with the necessary technology to support this new model.

2- Greater ease of access to talent
Access to professionals from all over the world also helps teams move from a conventional model to a model without borders and without physical presence, bringing the possibility of working with the best talent, regardless of where they are located.

3- Real-time information supported by the cloud
New organizational models can increase the efficiency and effectiveness of processes, which translates into greater productivity, especially when supported by cloud platforms.

The advantages are clear:

Greater accessibility
Lower costs
Increased security
Easy maintenance
Greater mobility
More productivity
Guaranteed flexibility
Automated management , what is its impact on financial management?
But what is automation applied to finance?
In simple terms, it involves implementing software to automate various administrative tasks that are part of the day-to-day work of financial teams, with the aim of reducing human intervention, eliminating errors and streamlining processes.

As an example, we have the automation of tasks related to the processing of tax maps. With cloud management software, such as ROSE Business Management , tax maps are always ready and integration with the Tax Authority services is automatic.

But this automation extends to all management processes, from accounting and financial management, to sales, current accounts, tax treatment, asset management, purchasing, inventory and banking.

The ultimate goals of automation are clear:
Reduction in the time required to perform administrative tasks
Greater accuracy and rigor in data processing, eliminating errors
Possibility of freeing up the team for higher-value tasks, such as data analysis, strategic planning, forecasting or management of critical information for decision-making.
What technologies are used in the automation of financial processes?
1. Artificial Intelligence and Machine Learning
It still sounds like science fiction, but the truth is that there are already systems capable of analyzing data autonomously and making decisions based on predefined instructions, as well as predicting future scenarios with the support of available data.


2. Process mining
This involves analyzing processes using specialized software that allows you to identify, monitor and improve these processes based on real-time information. Some of the advantages of this technology are increased efficiency, error detection and the discovery of opportunities for automation.


3. RPA or Robotic Process Automation
In a way, it is the arrival of robots in the world of financial management. It is a system or tool capable of autonomously managing repetitive processes, such as payroll processing, based on rules defined by the financial team.

4. Automation of document management
Automatically generating documents from existing data, such as invoices or financial reports, is practically a given in any modern company. The new development comes when machine learning or optical character recognition (OCR) elements are included, which allow the automatic extraction of data and the creation of a digital archive, thus taking document automation to a higher level.

The Big Advantage of Automation in the CFO Role
It is inevitable to assume that all this technology and automation has an impact on the activities of various professionals. Their functional scope will undergo changes with the introduction of these systems, but the most important insight to take away is that repetitive tasks, with little added value and that normally require a lot of time – time that could be applied more intelligently – will no longer be the responsibility of humans. And this is advantageous, without a doubt!

The role of the CFO of the future will be heavily supported by technology that will provide all the data needed to make decisions quickly and in a consolidated manner, with the support of a team that will be much more focused on analyzing the data than on obtaining and structuring it. This work of collecting and structuring data will be the role of technology! The ERP Cloud ROSE Business Management is PRIMAVERA's response to this new reality. Discover this ideal management solution for the CFO of the digital age.