But we live in a digital age, and while the transition to a virtual professional world hasn’t been easy, it is possible to leverage what may seem like chaos into a strategic advantage. And the reality is that although change is uncomfortable, it can be more dangerous to live with outdated manual processes and the inherent risks of human behaviour, especially in our current environment.
When the Covid-19 pandemic began, many finance and accounting organizations were still getting used to change as the new normal. Suddenly, uncertainty became a common sentiment for companies around the world.
With very little time to prepare, F&A teams had to figure out how to work from home and close virtually with a distributed workforce. Audit teams had to start performing their procedures remotely, and the roadblocks created by manual close processes and undocumented institutional knowledge became greater than ever before.
