Finance professionals plan to focus on growth for 2022: Are you ready?
In many ways, 2021 was a tumultuous year for finance departments as they dealt with the repercussions of the continuing COVID-19 pandemic — labor shortages, supply chain issues, and other challenges — but finance teams have their eyes on a bigger and better 2022. To find out what’s inspiring them in the new year, we asked our exclusive Off the Ledger Slack community about their professional goals for 2022. The responses show a focus on plans for growth, whether on a personal or company-wide level.
Smart growth goals.
Some OtL members tell us they plan to focus on guiding their company to the next stages, with members naming fundraising and even preparing for an IPO as goals for the coming year. Scaling efficiently was a key theme, with several members planning to focus on mindful growth. Notable goals include:
- Set up a stronger foundation for scaling.
- Build scalable processes.
Those goals correspond nicely with Dan DeVall’s predictions for the year ahead. Airbase’s VP of Business Development expects that 2022 will see an emphasis on scalable technology, and newer companies will increasingly look to build a tech stack that supports growth from the beginning. He notes that “implementation fatigue” is driving companies to pursue scalable solutions to prevent an expensive, time-consuming rip-and-replace process down the road.
Dan adds that we will see a growing awareness that “the back office can’t scale without the front office’s buy-in.” This represents a shift from traditional thinking around back-office processes.
“Historically, the back-office team’s scalability is capped when the front-office employees abandon workflows or solutions that are cumbersome, not user-friendly, and create more work for them,” he says. As a result, 2022 should see more of an emphasis on user experience across a company. Anyone looking for guidance around mindful growth needs to be aware of the reasons why finance and accounting operations fail to scale.
New tech resolutions.
Off the Ledger’s #software channel always has interesting discussions on financial technology, with members exchanging recommendations, reviews, and, occasionally, warnings. Some members want to focus on their tech stack over the coming year, with members naming goals like “implement an FP&A tool” and “lead a successful integration.”
Those plans fit in well with expected trends. As companies increasingly turn to finance to provide actionable data to drive decisions, having the right tools and technology will be imperative. In their report, Fairmarkit’s New Year wishes for the procurement solutions and services marketplace 2022, Spend Matters talks about the necessity of being able to adapt to things like ongoing supply chain disruptions, and predicts that, “We’ll see an accelerated adoption of tech like artificial intelligence and machine learning within the dynamic between businesses and their suppliers, making it faster, easier and more efficient to run their businesses.”
Working towards personal goals.
OtL members also shared some of their personal goals to accomplish in their work lives. One member hopes to move into a new role and lead a team. Another names more professional development courses as a top resolution. They’re in the right place: members consistently point to the value of OtL. “Full of learning, with directly helpful references, as well as interesting topics potentially to consider in the future,” one member tells us.
As technology changes the nature of finance careers, ongoing education like that can lead to more opportunities. In fact, opportunities for finance professionals with relevant skills will be wide open. CFO Dive predicts that the war for talent will be one of the top stories for CFOs in 2022. So, a heads-up to management that it’s now more important than ever to keep your finance team happy with the right tools to enable more fulfilling work.
Stay on top of trends, discuss your own goals, and get support to make them happen. Join the Off the Ledger community today.
Airbase offers a one platform solution to manage all non-payroll spend. It provides oversight and control over spending with real-time reporting and automatic syncing directly to your general ledger. Control all payments – physical cards, virtual cards, ACH, and checks – from one place. Close faster. Empower employees. Control spend.
Finance & Accounting Slack Group.
Join to connect with other finance professionals building great companies. Ask questions, provide your perspective, join the conversation, find resources.