Sapphire Ventures, the original venture arm of accounting and ERP pioneer SAP, wrote a piece about the next generation of technology for the office of the CFO. As the role of the CFO expands from financial reporting to a strategic partner of the business, new responsibilities and new skills will be needed.
Sapphire’s 6 predictions for the future of finance tech:
The next-generation of finance is being driven by the convergence with data science.
Explosion of cloud utilization is driving the need for programmatic monitoring and optimization of cloud costs.
Growing demand for SaaS platforms is driving the need for intelligent and automated billing and revenue recognition tools to manage contracts from a vendor perspective.
Accounting close remains a frustratingly manual process, creating the need for automated financial close solutions that reduce close time and errors, and streamline financial reporting.
The rise of the tokenized economy has created widespread confusion with regards to tax and accounting implications, resulting in the need for 3rd-party software that simplifies cryptocurrency taxes and ensures businesses remain compliant.
The growing demand for real-time financial data.
Puzzle combines a financial data platform with an accounting ledger in one solution, making accounting real-time, more accurate, preserving the rich details behind all the reports. By doing this, we directly address #1, #3, #4 and #6 above in a single solution, and are investing heavily in our API, so we can partner with the best software on the market for #2 and #5 above.
We are honored to be featured as a next generation player.