Future-Ready Finance Begins With Developing Your Team
Here at IFOL, we believe that finance transformation is most successful when it focuses on people, skills, and processes, not just technology. Finance operations teams that succeed in transformation invest in their teams, streamline workflows, and use technology strategically.
Our preliminary findings from our upcoming Finance Skills Gap Report reveal that only 23% of finance professionals describe themselves as future-ready. Most are working to close gaps in technology literacy, data skills, and strategic thinking. True transformation requires developing the people who drive it.
A Practical Roadmap for Continuous Transformation
Transformation is not a one-off project. We recommend a structured, people-focused approach with four key elements:
- Optimize Processes
- Actionable Tip: Map workflows and identify bottlenecks or repetitive tasks. Streamlining tasks like invoice approvals or reconciliations frees teams for higher-value work.
- Common Pitfall: Focusing only on technology without improving processes can lead to inefficient automation.
- Enable Technology Thoughtfully
- Actionable Tip: Introduce automation, AI, or analytics only where it solves specific challenges. Align technology with team skills and business objectives.
- Common Pitfall: Implementing technology for the sake of innovation often results in low adoption and wasted investment.
- Develop Skills Continuously
- Actionable Tip: Upskill your team in technical capabilities, strategic thinking, and collaboration. Strong skills empower staff to leverage technology and contribute to broader business goals.
- Common Pitfall: Assuming staff can self-learn new tools without structured support slows adoption and reduces confidence.
- Measure Performance and Capability Growth
- Actionable Tip: Track operational outcomes, such as cycle times and error rates, alongside team capability metrics. This ensures improvements are sustainable and that people are empowered to take on strategic roles.
- Common Pitfall: Measuring only system outputs without considering people’s growth can mask long-term risks to transformation.
Building Teams That Are Future-Ready
Once teams understand and apply this roadmap, the next step is standardized, accessible training for all team members. That is why we created the IFOL Enterprise Academy, a bespoke training and certification solution for entire finance teams. By providing structured learning across an organization, teams become more cohesive, capable, and future-ready, ensuring transformation initiatives deliver maximum impact.
- See it in action: Read how we worked with PwC to upskill their finance team through our Enterprise Academy.
- Talk to us: Book a call to see how your finance team could benefit from a tailored team training and certification solution.
Taking Action This Month
Finance teams can start applying these principles immediately. IFOL offers practical ways to advance your roadmap:
- Best Practice Webinar – The Painless Path to Perfect Document (October 21): Learn strategies to reduce errors and simplify document workflows.
- Accounts Payable Leadership Conference – Toronto (November 6–7): Explore how AP leaders balance technology adoption with skills development through keynotes, panels, and networking.
- Finance Skills Gap Report: Watch this space for our latest research insights to understand skill gaps in your team and plan targeted development initiatives.
Finance transformation is a journey, not a single project. By following a people-centered roadmap that balances processes, technology, and skills development, and by leveraging structured team learning like the Enterprise Academy, finance teams can move from reactive operations to strategic, value-adding functions within their organizations.