“Digital transformation is not about technology at all. It is about people.”
—Josh Bersin, global industry analyst; HR and workplace technology expert
Technology and artificial intelligence. It’s everywhere these days and a hot topic of discussion. Will AI replace humans? Will it make our jobs obsolete?
Although there’s plenty of speculation on that topic, Bersin doesn’t think so, and neither does IFOL’s Paul Taylor, O2C Education Lead. He stresses that the purpose of technology is not to replace people, but rather to use it as a tool to manage repetitive, rules-based and data-driven work, not-so-interesting tasks that sometimes make forward-thinking finance professionals start to reconsider their career choices.
Technology and Humans Are Good at Different Things
Yes, data crunching is something that technology is extremely good at, far better than humans in most cases. It typically doesn’t make errors and doesn’t get bored, and it’s vital for informed decision making. But those decisions are ultimately made by people who use the information provided by technology to help with business strategy and relationship building, something that technology itself is not programmed to do.
Taylor points out that the objective should be to redesign finance operations so that both people and technology solutions focus on the things they do best. That enables finance leaders to move beyond data processing and historical reporting tasks, and instead envision strategic opportunities, make better decisions and create greater value for the organization and its business partners.
If this perspective intrigues you and you’d like to know more, consider attending IFOL’s in-person event, the Finance Operations Leadership Conference (FOLCon) in Canada this November. You’ll hear more about this from Paul Taylor himself, who will be delivering a keynote address entitled, “Redefining Finance Leadership: The Landscape, The Challenge, The Opportunity.” Learn an interesting step-by-step approach that casts light on how finance leaders can efficiently and intelligently shape the future of their jobs, their teams’ roles and their organizations through constructive change.
Engaging a Team With a Technology-Powered Vision
Another keynote speaker at FOLCon Canada 2026 will be Lisa Griffith, the Accounts Payable Manager for the charitable organization, The Hospital for Sick Children. She notes that AP typically tends to be a hidden team doing what’s considered a back-office function. “People only think about AP when the lights go out if we haven’t paid the utility bill,” she says.
Griffith wanted to change that perception through a combination of enhanced automation and greater, more mindful engagement from staff. That meant getting each of her team members thinking about and enthused for what lay ahead. She advised them that they were essentially starting a brand-new job on the first day of the tech-powered transformation. It would require a degree of determination and emotional intelligence on everyone’s part to accept that the uncertainty that accompanies change can be frightening at first, and to accept that there would be a learning curve.
But the overriding consideration was that they would come to embrace the fact that their role wasn’t simply clerical. The improved efficiency they brought to their jobs would make it possible for young hospital patients to have an optimal medical experience through the work AP was doing: making sure that the necessary medical equipment and supplies were always available.
And yes, by keeping the lights on.
Combining People and Process for Positive Change
Roy Shelton, Senior Director at Hanover Financial Forensics, will also be presenting a keynote at FOLCon Canada entitled, “Learning in Action: How People, Process and AI Build Lasting Financial Impact.” He says, “I’ve learned the hard way that transformation doesn’t happen just because you have a new system. It happens when people understand the processes and trust change.”
However, he notes that the impact of new financial technology usually extends beyond the finance department itself, both during and after the transition, so it’s important that everyone is mindful of the bigger picture. For example, there are likely many stakeholders outside of finance that must be consulted when adopting new technology. That will probably include IT, legal or other departments, depending on the type and extent of the implementation. It’s also essential that everyone within the finance team understand the importance of the work they do and how the change will improve the data they generate and the insight it provides, which in turn contributes to the success of the overall operation.
Shelton also stresses that sometimes a finance leader is the person who starts the conversation about change, but there also needs to be a clearly designated individual in charge of steering the project. When nobody owns it, clarity is lost and there is misalignment. His advice for how a project lead can gain cooperation from stakeholders? “Slow down. Listen first. Seek to understand, then be understood. Respect others’ goals in addition to your own, and be transparent. Let them know you’re on their side.”
Shelton has spoken at FOLCon conferences before, and says the experience is inspirational. He stresses that it’s essential for financial leaders to remain committed to both the team’s and their own personal education, and that includes learning about automation as a continuous process.
He adds that while at FOLCon, it also became clear to him that there are common problems and experiences that many people in the finance sector share. Attendance allows them to create a community, build relationships and stay connected after the event.
What’s Coming Up
Take our survey! We need your input on how prepared your team is for the changing landscape of finance. Click here to participate in the IFOL Finance Workforce Readiness Research study; it only takes a few minutes, and we’ll share the information once the survey has been concluded.
The IFOL Operations Technology Summit will take place on October 13, beginning at 9:15 a.m. U.S. | Canada Eastern Time. It’s a free, virtual event you can join online. More than 13 speakers will present sessions on the latest news, including artificial intelligence; what the future of finance holds; 1099 compliance and managing regulatory change; and learning about IFOL’s Enterprise Academy team certification opportunity. Learn more and register here.
Do you understand the real cost of artificial intelligence? Stay tuned for our next best practice webinar , “AI Token Spend Terrors: How AI Budgets Ghost You, and the Tools to Stop Them.” Industry experts will discuss the often-hidden financial impact AI is having on many organizations and best practices for getting that under control. Registration opens soon!
FOLCon Canada will take place in Ontario on November 12, 2026 at the Mississauga Convention Centre. In addition to the keynote talks, there will be panel discussions and interactive workshops, where three core themes will be covered: people and process; fraud prevention; and AI and technology. To build your network and skill up your knowledge, we encourage you to register now.
Want to see live demos of software solutions? Join us for our free event, the Finance Tech Solutions Showcase, to see them in real-time and learn how each might benefit your organization. Register here, and tune in on November 19 at 11:00 a.m. U.S.| Canada Eastern time to check them out.
