The pandemic placed renewed focus on how organisations operate, and their ability to survive turbulent market conditions. This in turn beamed the spotlight on the performance of finance functions, which generally stepped up to the challenge during this period.
A report by ACCA and PwC, Finance functions: seizing the opportunity, based on surveys and roundtables conducted in March and April 2021, explores the pandemic experience of 3,000 respondents. It notes a clear opportunity for finance functions to contribute more in the future, using data, insights and collaboration.
A ‘deep dive’ of the report, which presents the India perspective, found that while 37% of respondents felt there has been a long-lasting change in the relevance of the finance function, 34% felt the change has yet to be capitalised on.
Among factors considered to have a lasting impact on the function, respondents from India pointed to finance business partnering (48%), followed by technology utilised (42%) and remote working (41%).