A quick recap of the last couple of trends, we talked about how CIO function is addressing New Normal of Spends Management through Mobile Reporting, Platform Convergence, AI/ML technology, and Replacement of Partial Automation. From the CHRO’s viewpoint, we covered Employee Safety and Contactless Experience.

In this particular trend, I’ll be focussing on the redefined priorities of CFOs after the COVID-19 experience.

Image Source: Unsplash

On May 25th, 2018, when the GDPR came into force, the ripples were felt across the world. Similarly, the Indian version of Data residency law recently sent shivers down the spine of nearly 60 Chinese applications as per…

My last trend mentioned how AI/ ML technology is going to give Greater Visibility & Control over fraud.

Image Courtesy: Google

Mobile expense reporting will gain pace from the current 9% due to the rapidly growing adoption of smartphones and other mobile devices. Moreover, WFH (Work From Home), VPN (Virtual Private Network) Connectivity, or the better bandwidth offered via 4G services across service providers such as Airtel, Jio, and Vodafone Idea have made accessibility a lot better than it was even a couple of years ago.

Currently, despite the widespread penetration of mobile devices and desktops, merely 12% and 27% of travel claim…

My third prediction is more like a ripple effect of my last prediction where I called out “Perils of Partial Automation”.

Corporate fraud is among the most critical and growing challenges that companies have faced over the past few years, with misappropriation of funds being a leading cause.

International studies have found that one in every five expense reports is misrepresented, which is in itself an indicator of the sheer magnitude of the problem.

Even more surprising is the fact that our benchmark study revealed that about 48% of CFOs interviewed were unaware of this frequency.

In my last article, I talked about my first prediction for the post-COVID world about how Employee safety will be of utmost importance for companies.

This week I would like to throw some light on the importance of an integrated IT environment and how it affects not only the CIO but also the CFO.

End to end integrated systems is the new order of the day.

Integrations with the existing HRMS, Accounting, and other IT systems make it easier for employees and finance teams to initiate, approve, pay, and post each transaction in the accounting system thereby making it seamless…

Are you prepared for employee safety in the contactless world?

In my last article, I mentioned how CFO's role is changing. Here is my first prediction for what CFOs should expect from the Contactless COVID world.

With social distancing becomes the norm, Contactless data capture is the next big thing in Employee Experience. The manual bill submission process will no longer sustainable due to the fear of virus transmission.

In Contactless COVID World

One of the most apparent effects that the Pandemic has had on the Corporate World is how Roles have redefined themselves to cope with the new realities facing us.

CFOs continue their transition from tactical roles as static bookkeepers to dynamic, strategic decision-makers. They have become increasingly proactive and embrace advanced technologies to ensure that their companies stay ahead of the curve in terms of controlling and optimising expenses.

Building a remote digital workforce is now a board room level discussion. Work from Home (WFH) is a discovery made by most companies, no matter how much discomfort we face right now. Every company currently focuses on cost reduction, cash flow monitoring, employee health (Duty of Care), and productivity. …

Sunil Kamath

Business professional with over two and half decades of Corporate experience. Currently on a digital journey gearing up for the post Pandemic new World Order

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