With automation on the rise, accountants today are presented with new opportunities to take up higher-skilled, value-adding work. Yet, many may not necessarily have the soft skills required to progress to a more strategic role. BlackLine’s latest study, which surveyed global business leaders and finance professionals, saw that only 3% of CFOs in Singapore are confident that their finance functions have the required skills to help their organizations grow and adapt over the next five years.
Covid-19 has shined the spotlight on what technology could do for the finance and accounting (F&A) function, while highlighting how it has emerged to be a mission-critical function for the company.
In particular, the pandemic has renewed urgency around digital transformation and investing in technology. In 2020, the Singapore government allocated $500 million to facilitate local businesses in their digital transformation efforts during the height of the pandemic.
