Singapore CFOs tag technology as their top priority this year

They are also keen to updating their internal policies.

A new study by recruitment company Robert Half revealed that majority of Singapore's chief financial officers will be focussing on implementing new technologies and updating their internal financial policies this year.

Almost half (45%) of CFOs surveyed said such were their top priorities this year. Robert Half managing director Matthieu Imbert Bouchard said this highlights the progressively important role technology is playing in the finance function of Singapore firms.

"As companies endeavour to explore new ways to increase innovation and streamline business practices, Singaporean businesses are adapting their finance function to harness new technologies and continuously updating internal procedures. These processes allow companies to remain competitive in an increasingly uncertain market – those quickest to adapt will inevitably be able to maximise their company’s future growth and market share,” he explained.

He furthered that the growing influence of technology and digitisation is seeing the finance function undergo significant change, and finance companies will need to recruit highly-skilled professionals who are able to keep up with these dramatic developments.

"In order to utilise new technologies and streamline processes, businesses need finance teams made up of professionals with the right experience, technical and business acumen as well as adequate soft skills to take full advantage of new opportunities,” Imbert-Bouchard said.