Finance and accounting in a post-Covid world: Navigating the changing landscape

Almost overnight, the impact of the coronavirus pandemic became the single greatest threat to global business continuity in living memory. It forced many organisations to rethink operating models in a bid to survive a truly unparalleled set of challenges.

A year later, the future remains uncertain. The ongoing impact of the pandemic coupled with the threat of a global recession has resulted in increased pressure to maintain profitability and retain market share. Add compliance pressure from regulators committed to cracking down on unscrupulous corporate practices, and it is clear business leaders are operating in a more demanding, precarious, and unpredictable environment than ever before.

At a time when strategic decisions must be made fast—often to solve challenges that have no precedent— agility and access to data is critical.

Financial data often lies at the very heart of these decisions. Ensuring that data is provided in real time to generate accurate and timely strategic insights is a required success criterion for many organisations.

But how has this rise in the accepted criticality of financial data impacted the finance and accounting (F&A) function? How have the past 12 months reshaped the scope, influence of, and demands faced? To what extent have business leaders recognised the key role F&A can play in not only survival but recovery?

Working with independent research firm Censuswide, Blackline surveyed 1,300 C-level executives and F&A professionals in midsize and large organisations in the US, Canada, UK, France, Germany, Australia and Singapore to find out.

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