Technology is changing at a faster pace than ever before. A survey of CFOs finds that keeping up with those changes is one of the biggest challenges.
A recent article in CGMA Magazine discussed the results of a new Robert Half Management Resources survey of 2,200 CFOs. When asked what the greatest source of pressure was on the accounting and finance functions, 41% said that “keeping pace with changing technology” had the greatest impact. From ERP applications to accounts payable and receivable automation solutions to data-mining tools, the CFO is involved in some way with all of them. And the constantly changing nature of these technologies is a source of constant concern.
Citing Paul McDonald, senior executive director for Robert Half, and James C. Bourke, CPA/CITP/CFF, a partner in a large CPA firm, Jeff Drew, Senior Editor at CGMA Magazine came up with seven tips that would enable CFOs to keep up with these constant changes in technology:
- Hire financial staff with strong technology knowledge.
- Interact with in-house IT staff and/or outside consultants who are trusted technology experts.
- Attend conferences featuring sessions on current and emerging technologies.
- Set up RSS feeds with specific technologies as keywords.
- Join and become active in technology user groups.
- Collaborate with other CFOs at companies that use the same technologies.
- Meet with fellow CFOs to discuss technology issues.
To see the tips in detail, read the full article.