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As the new year makes its debut, we look ahead to the financial technology trends that will influence business. From cloud technologies and data integration to active planning and more, these innovations will continue to deliver transformative results.

What are these trends and how can your organization make the most of them?

Here is a forecast of six technology trends you can expect:

Cloud Technologies

With a rising number of organizations implementing cloud technologies, this trend will only accelerate. People are observing that moving to the Cloud brings tremendous value and are implementing these solutions. Their decisions prove wise, as they experience more secure information, efficient operations, stronger collaboration, unified data, and the ability to access business insights anywhere, anytime.

As the Cloud continues to propel organizations to greater heights, the adoption of cloud technologies will continue to skyrocket.

According to research, just 2 years ago, 78% of CFOs cited proficiency in Excel as the most important skill for their FP&A teams, compared to only 5% today. This trend is expected to continue, as only 7% of CFOs will look for superior Excel skills. Rather, what qualities will CFOs seek most? They will look for the ability to adapt to new technologies, thereby redefining the abilities finance professionals value most in the future. (Source: Adaptive Insights survey)

Adaptive Insights, the business planning platform, helps your team plan better, budget faster, and forecast smarter. As your organization grows, Adaptive grows with it.

Data Integration

Data is becoming increasingly complex. To thrive in today’s world, how organizations manage their data makes all the difference.

Finance professionals must now manage large data sets from a variety of sources. This presents unique challenges: How can they gather actionable insights from their data? Successful organizations will harness the collective power of their data through integration.

DataBlend, the integration platform as a service, gives the full financial picture by seamlessly extracting, transforming, and loading data between core financial and operational systems. Organizations get to make better and more timely business decisions with real-time information.

Even though your data may now be comprehensive and complex, you can simplify it in the year ahead.

Collaborative Planning

When it comes to planning, collaboration is key.

That same truth applies to finance and non-financial stakeholders. When team members across departments work together, it is impressive what they can accomplish. Innovative ideas, more sales, increasing revenue, and thriving teams are the benefits these organizations enjoy.

At Carlson, we have observed and encouraged our clients' increasing desire to extend the benefits of Adaptive throughout their respective organizations. From finance and human resources to production and R&D, leaders on the frontlines of business can now manage the KPIs for better insights into business performance.

Service-Driven Financial Technology

Financial technology will be service-driven and will continue to be in the year ahead. They give a personalized experience customized to client needs.

This is especially the case with SaaS financial systems. When software is combined with personalized service, organizations get the all-in-one solution that delivers true finance transformation.

Because technology is an investment, it is important to get the highest return. Think about investing in a solution combined with consultative services. With Carlson’s award-winning implementation services, you benefit from improved business performance that comes with a successful project.

Automation

Financial technology of today and the future is being developed in a way that elevates the user experience. It’s becoming more intuitive, using advanced algorithms to perform functions automatically.

Business users can conduct complex functions with several clicks of the mouse. This ease-of-use translates into greater productivity and performance for teams.

To thrive today, the need for faster and brighter insights is stronger than ever. According to Adaptive Insights, findings reveal that CFOs are embracing automation for the following reasons:

• “Data to insights is the biggest driver for automation.
• Forecasting and dashboards lead CFOs’ automation plans.
• Two-thirds of CFOs say automation has delivered the desired benefit.
• CFOs looking to artificial intelligence (AI).” (Source: Adaptive Insights website)

Adaptive is designed with the user in mind. It saves you time by automating your core processes. From software and nonprofits to the life sciences and more, Adaptive is the customized solution that helps your organization work at speed.

The Dawn of Transformation

It’s the dawn of transformation. Financial technology will transform organizations by providing the full picture of business performance.

These solutions elevate all areas of business. Furthermore, they create real-time visibility and stronger collaboration across teams, resulting in accelerated growth.

Workday and Adaptive have joined together to provide a more robust Cloud solution that meets all needs in financial analytics. Users of Workday + Adaptive Insights will get to grow their organizations faster and easier with a full suite of business planning capabilities.

To transform your organization, a business planning platform that has it all can be your solution.

The Future Begins Today

Start by incorporating these trends in your organization today. Success in the future begins with what you do in the present. When your organization stays at the forefront of financial technology, it stays at the forefront of business growth.

To discover a solution that fits your business, contact us for a consultation.