PwC Thailand reveals that finance and accounting work for Thai companies must change its role from being a back office department to becoming more of a business partner. Because it will be an important department that helps the organization bring the insights gained from analysis to evaluate for decision making. and effectively predict the future performance of the organization Meanwhile, it is expected that the global trend will see internal departments adjust their roles to become business partners significantly more in the next 3-5 years. Mr. Chris Suradetwiboon Consulting partner PwC Thailand reveals that expectations of finance and accounting departments of organizations around the world are changing. The roles and responsibilities of both departments have been changed from their original form and have become business partners that focus more on helping to create measurable added value for the organization in the long term.



The finance and accounting departments of most large Thai organizations It remains Email Data focused on transaction processing duties. More than being a business partner that will help in evaluating and predicting future performance,” said Mr. Chris. Mr. Chris said that, however, nowadays large Thai organizations have given importance to the concept of business partnerships. To apply it more to their finance and accounting departments. But the challenge remains in devising strategies that will create measurable added value in the long term. Including leveraging digital technology to help manage costs and deliver information that is truly beneficial to the organization. “As businesses enter the modern financial world with a more technology-driven vision, we think it is critical that organizations have a clear strategy in place to transform their finance and accounting functions into one. Become a business partner To create a positive return on investment and add tangible value to the organization in the long run,” Mr. Chris said. This is consistent with the results of PwC's Finance Insights - Reimagined survey conducted in collaboration with The Association of Chartered Certified Accountants (ACCA).




It was found that only 37% of those surveyed Of the more than 3,500 people surveyed around the world who are currently integrating business partnerships into their organization's strategies and decision-making processes, and although 78% of those surveyed said that The importance of the role of business partners will increase significantly over the next 3-5 years through the use of financial insights. It will become the main channel for evaluating the performance of the organization. Can the operation be carried out as intended or not? and to know which factors or variables are obstacles to the business goals of the organization transition to success It is well known that The main duties of the Finance and Accounting Department involve preparing, recording, supervising, and presenting systematic planning of financial and accounting operations. To provide information for executives to make business decisions. Traditionally, most of the time will be spent processing transactions. But with the advancement of digital technology and automation As a result, personnel of both departments can save time from doing repetitive work (Routine work) and can immediately turn to analyzing and applying the information that has been processed by the automated system. The same applies to the skills of personnel that must be continuously developed and trained.