If I had ever, in my youth, invented an acronym, I believe it would have been ‘GARR’. GARR represents the repetitive processes that countless financial workers have suffered through since the invention of…well…finance. Finance, almost by definition, requires attention to detail, and for a finance worker, the details are in the data. And if you rely on data, then somebody needs to GARR:
It’s a fascinating time to be in finance, especially for those of us who enjoy a challenge, change, and personal growth. For those who don’t, the way ahead could be tough. Industry 4.0 becomes the prevailing paradigm for manufacturing, finance, new technologies, collaborations and new ways of thinking need to be embraced.
As I noted in Part 1 of this blog, financial workers have always been at the forefront of data collection, structure and management. That doesn’t mean, however, that our careers are impervious to obsolescence. Industry 4.0 is a technological revolution, and this is no time to rest on our pre-transformation laurels. Everyone in the finance ecosystem needs to be on top of incoming technologies, and understand, as best as one can, their long-term implications.
In light of the recent outcry against fraud and corruption that has swept the nation in recent months, it is important to remember that there is readily available technology able to prevent fraud on both a corporate as well as government level.
Remember that old Bob Dylan song from the Sixties? “Oh the times they are a-changing”? The song has rarely been truer than now as technology reshapes traditional roles into new ones.