Friday, October 31, 2025
25 C
Lagos

10 Elements Driving Change in Business Processes, People, Services

A new initiative by ACCA (the Association of Chartered Certified Accountants), the global accountancy body, has highlighted 10 key drivers that are already changing business processes, people and services.
The report also addresses how the finance function within those businesses will need to prepare and adapt to meet transformative challenges.
Thomas Isibor, Head of ACCA Nigeria said: ‘Few sectors are going to experience the impact of new tech more than Finance and Accountancy.
‘Preparing now for the inevitability of change is even more vital for these functions, and forward-thinking should be every business’ strategic priority.
Isibor continued: ‘Challenges such as digital, risk, the global economy, politics, legislation, cyber security, ethics, even climate change – are all set to impact business and the Finance department in potentially unimagined ways.’

Technology – more than just Automation and AI – is already creating the most seismic impact on the Finance, Audit and Accountancy functions. The industry is in a race for future relevance.
The ACCA has identified four broad imperatives for any CFO or partner looking to optimise how technology can add – and not detract – value from their organisation:

to understand how to use the information available to them to provide strategic insight in real time;

to think forwards not backwards and maximise the use of technology to do this;

to ensure they have in place effective and efficient processes that satisfy the overall business requirements of finance, and to capture, measure, report and predict future performance in a much more agile manner to support better and quicker decision making.
Isibor added: ‘Preparation and readiness now is key,’

‘No technology has ever made an impact without first being adopted by people. The sooner we recast this challenge as one of people and processes, the sooner we’ll make progress. We have to be ready for what lies ahead.’

spot_img
spot_img
spot_img

Hot this week

NLNG Targets Young Nigerians with The Nigeria Prize for Creative Arts

L-R: Joel Benson, Technical Adviser to Advisory Board of...

NIPR Institutes Annual PRICE Awards, Fixes 7th Dec for Ceremony

The Nigerian Institute of Public Relations (NIPR) has once...

Jiji Launches “Deals Na Water” Black Friday with up to 85% Off for Shoppers

Maxim Makarchuk COO Jiji Africa Jiji, Nigeria’s leading online marketplace, has officially...

What Happens to Pension Benefits When a Contributor Dies?

Pension schemes are a cornerstone of financial security for...

Topics

Wecass Braun Unveils Integrated Energy Solutions for Nigeria

Mr. André Braun, Co-CEO of Wecass-Braun Integrated Energy Limited...

Embracing Our Common Economic Future with Optimism

Written By: Roberts Orya is Managing Director and Chief...

MTN Partners ETAP to Reward Nigerians for Good Driving

Africa’s leading technology company, has teamed up with ETAP,...

INEC Presents Cheques to Beneficiaries of Late Police Officers

The Independent National Electoral Commission has presented cheques to...

Ecobank Mobile App Handles $1bn Transactions in 18 Months

The groundbreaking Ecobank Mobile App, a single, unified financial...

Obi: Competence is Key in 2023, Not Tribe

Mr. Peter Obi, Presidential Candidate of the Labour Party...

WHO: ‘Global Death Rate of Coronavirus is 3.4%’

The World Health Organisation (WHO) has put the global...
spot_img

Related Articles

Popular Categories

spot_imgspot_img