are robots going to destroy the financial function?
TRANSCRIPT
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In business for people.Page 1 Proprietary and Confidential
Are Robots going to destroythe Financial Function?
“
”Ton Dobbe, Chief Evangelist
17-Nov-16
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Page 2 Proprietary and Confidential
This is your domain
Compliance Performance
24/7 Insight
Continuous Growth
Shareholder Value
Accurate Data
Managed Risks
Compliant Reports
17-Nov-16
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Everything that’s rule based can
be automated…And bots arethe ultimate candidates
What we see…
17-Nov-16
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…And this is how we expect it to impact your domain
Compliance Performance
Accurate Data
Managed Risks
Compliant Reports
Continuous Growth
Shareholder Value
24/7 Insight
17-Nov-16
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In business for people.Page 5 Proprietary and Confidential
Now, why is thisnot a bad thing?
17-Nov-16
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In business for people.Page 6 Proprietary and Confidential
too much time andeffort spent on not
doing enough of the right thing…
...or not doing them at all!
“ 56%of global CFO’scannot focus on
strategic priorities because time spent on compliance, controls,
cost”
17-Nov-16
Source: The DNA of the CFO, EY, 2016
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In business for people.Page 7 Proprietary and Confidential
Inability to continue to meet stakeholder
expectations
“ 47%of global CFOs say their current finance function does not have the right
mix of capabilities”
17-Nov-16
Source: The DNA of the CFO, EY, 2016
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In business for people.Page 8 Proprietary and Confidential
The number of regulations grow
exponentially
“ Your challenge:
Inability to continue to
stay compliant”17-Nov-16
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In business for people.Page 9 Proprietary and Confidential
Regulations arekilling innovation
and creativity
“ Your challenge:
Inability to meetnew norms of being
fast enough”17-Nov-16
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In business for people.Page 10 Proprietary and Confidential
So it could take a goodpart of your job…
But there’s also good news…
17-Nov-16
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We are at a stage where technology has the power to amplify people’s skills beyond their natural limits
17-Nov-16
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Augment people where they are at their best
Take the Non-Value adding Repetitive tasks
What this means – two angles
1 Wasting your time / interruptions2 Disruption from organisational change3 Administration4 Inefficiencies
1 Productivity2 Focus3 Creativity4 Clarity
17-Nov-16
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FOCUS TODAY DESIRED FOCUS
70%
5% of effort
25%
5%
70%
25%
TRANSACTIONAL
SPECIALISEDEXPERTISE
DECISIONSUPPORT
TRANSACTIONAL
SPECIALISEDEXPERTISE
DECISIONSUPPORT
… and that, will give a transformation of focus
17-Nov-16
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Can you make the jump?
17-Nov-16
Leve
l of e
mpo
wer
men
t
Level of maturity
Automatedself-service
model
Efficientprocess
execution
Flexiblereal-timeanalysis
Structuredfinance
procedures
Manual SelfdrivingAutomate
Manual TasksReduce Input
RequiredException
ManagementReal TimeInsightful Decisions
Intelligent Recommendations
Sense potential problems
Prescribe solutions
Driverless actions
STANDARDIZE OPTIMIZE PREDICT DRIVE
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Will you bejobless or… will your role change
for the better?
17-Nov-16