In short:
- Automation will continue at pace.
- Blockchain has the potential to be a game changer for finance teams.
- Finance leaders must become more analytical.
- Sustainability must be a focus for everyone.
Jayashree Venkatakrishnan | MDRF
The nonprofit organisation provides diabetes prevention and treatment, helping everyday people fight the condition and its complications. Read more about the Madras Diabetes Research Foundation story.
Jayashree Venkatakrishnan, ERP & Finance Lead at MDRF shared her thoughts and insights.
“I am waiting with anticipation to see how blockchain will unfold. The continuous thread that it promises seems to be an accountant’s delight and it could save thousands of hours for small organisations.” Jayashree Venkatakrishnan ERP & Finance Lead, MDRF
Jayashree Venkatakrishnan: Some of the challenges are traditional: Accurate bookkeeping and reporting, financial analysis and reporting, improved compliance. Others are strategic: increasing process automation, creating value by reducing costs.
Venkatakrishnan: Data analytics by team members, increased cost efficiency in programs and sustainability.
Venkatakrishnan: As a nonprofit, cost factors determine the extent of new technologies that we can deploy. We do, however, hope that we can save the accounting team time by deploying a chatbot that is accessible to our researchers and vendors 24/7. Initially the goal will be to automate expense and claim management.
Venkatakrishnan: I am waiting with anticipation to see how blockchain will unfold. The continuous thread that it promises seems to be an accountant’s delight and it could save thousands of hours for small organisations.
Venkatakrishnan: Being cost effective, spending on human resources, identifying manageable cost levers, optimising cash flows etc. If we look at this, we will find technology is an absolute requirement for decision making.
Venkatakrishnan: The CFO and their team have traditionally accumulated data, but the need of the future would be ability to analyse data.
