quote:
If you are strictly a number cruncher, you have problems and need to develop a new skill set. If you are providing strategic guidance, you will be fine.

I do crunch numbers as part of my job, but a majority of my role as a finance business partner is supporting business partners in business development, engineering, product management and sales during quarterly/monthly business reviews, annual planning, strategic long range planning and adhoc deal analysis.

I don't do any accounting stuff like monthly close and general ledger tie-out and stuff like that, although I use accounting knowledge on my day to day intractions with my business partners who sometimes have a hard time understanding why revenue and booking numbers differ and why revenue cannot be recognized all up front, but over the length of the contract and such.

I like to think I add value as a finance person with a seat at the table, but in an engineer centric company like mine, most of the vision and strategic planning comes from the technical folks and finance acts as someone who challenges and tries to validate growth and revenue projections that the business puts out and makes sure it is in line with the investment, spend and revenue growth theme that the company has overall.

This post was edited on 8/28/18 at 2:54 pm

2 ...

Report Post

Posted by lynxcat

Member since Jan 2008

24197 posts

Posted on 8/28/18 at 1:48 pm to MailKimp

quote:
MailKimp

I think you are overblowing things but I do expect a lot of the manual processes and routine reporting will be replaced. Even with AI/ML, companies need people to run the businesses and make the decisions.

Worst case scenario, you are correct. If so, it will take a very long time for non-SV firms to adopt what you are describing.

0 ...

Report Post

Posted by BamaAlum02

Huntsville, AL

Member since Nov 2005

1011 posts

Posted on 8/28/18 at 1:51 pm to MailKimp

I'm a CPA but I have been 100% consulting for 5 years and that is the direction our firm continues to go towards.

We are currently using automation to pull reporting packages and other info. We are a small firm and are not using AI or automation anywhere near the big 4 are but we are pushing towards it more and more.

The value we provide and what we bill for is not the reporting packages but it is the meeting to go over and interpret the numbers. Same with our other business lines.

It is more challenging because you constantly have to evaluate what you are doing and try to up your game and continue to add value.

1 ...

Report Post

Money Talk - Replies to Post

Return To Board

Page 1

Return To Board