THE EVOLUTION OF FINANCE IN CONTEMPORARY BUSINESS ADMINISTRATION
- Wenly MARKASA
- Oct 6
- 2 min read
Money has always been the most crucial part of business. But the role of finance is evolving at an unprecedented pace in today's fast-paced, data-driven world. Finance is no longer just about crunching numbers or following the rules. It is now at the center of strategy, decision-making, and creating long-term value, empowering professionals to shape the future of business.
From ledgers to cloud platforms
In the past, spreadsheets and manual reconciliations were the main tools of traditional finance. Today, cloud-based platforms like QuickBooks Online, Xero, and Oracle NetSuite have replaced traditional methods, giving leaders real-time access to financial performance. This shift towards integrated economic systems not only makes things run more smoothly but also significantly reduces mistakes, providing a sense of reassurance and confidence in the accuracy of financial data.
AI and Predictive Money
AI is revolutionizing finance in significant ways. AI-powered forecasting tools can now model various business situations, enabling leaders to anticipate risks and opportunities before they occur. For instance, predictive models can analyze cash flow patterns, identify unusual transactions, and even flag potential compliance risks. Robo-advisors like Betterment and Wealthfront demonstrate that AI-driven platforms are no longer just theoretical; they are now commonplace, transforming the way we manage and invest money.
Data is the New Money
With the rise of big data analytics, people who work in finance are no longer just reporting history. Platforms like Power BI and Tableau allow teams to see complicated financial patterns instantly, making financial storytelling an essential skill for leaders. In today's business world, it's not enough to know 'what happened.' You also need to know 'what's next,' and be able to engage your audience in the narrative of financial data.
The Future's Finance Leader
Today's CFOs and finance managers are expected to work with marketing, operations, and technology to ensure that financial information aligns with the needs of these areas. They need to be able to move quickly, understand technology, and turn financial data into practical strategies.
Training Future Leaders
At Raffles Jakarta, we have designed our MBA programs with these changes in mind. We don't just teach our students traditional finance; we also ensure they are proficient in using new tools, digital platforms, and AI in business. Through real-world projects, case studies, and industry collaborations, students gain the skills needed to lead finance functions in today's dynamic environment. Our program equips students with the knowledge and skills to navigate the evolving finance landscape, making them highly competitive in the job market.
It's not just about keeping the books in order anymore; it's about making the future. And tomorrow's leaders will be those who can combine financial expertise with strategic vision.
Wenly MARKASA
Finance & Accounting Manager
Raffles Jakarta
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