Then and Now: How the Finance Function Has Changed

July 2, 2021

The accounting landscape and the finance function have changed over the past 10-20 years.

What was once considered a mostly numbers department has evolved into something more – strategy and working alongside other teams to further the success of their company.

Don’t get us wrong, finance is still (and will always be) a crucial function for any organization but if you think all they do is crunch numbers, think again.

The relationship between the accounting and finance department hasn't always been clear for some companies, with both departments often being considered different entities within an organization. But the reality of these functions is that while they coexist, one wouldn't be possible without the other.

Accountants discussing how the finance function has changed

We’ve compiled a list of ways the finance function has transformed over the past few decades in hopes that you (as a CFO, accounting executive, or the like) can grow with these changes.

Look at this video to see the evolution of the accounting function.

Learn more about how partnering a virtual accounting support provider like Personiv can help you keep abreast of these changes.

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