{"id":8697,"date":"2022-04-05T06:30:50","date_gmt":"2022-04-05T04:30:50","guid":{"rendered":"https:\/\/www.sqorus.com\/what-is-the-role-of-the-finance-department-today\/"},"modified":"2026-05-04T17:38:03","modified_gmt":"2026-05-04T15:38:03","slug":"what-is-the-role-of-the-finance-department-today","status":"publish","type":"post","link":"https:\/\/www.sqorus.com\/en\/what-is-the-role-of-the-finance-department-today\/","title":{"rendered":"What is the role of the finance department today?"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;0px|0px|0px|0px&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;0px|||||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.27.6&#8243; header_2_font=&#8221;|700|||on|||RGBA(255,255,255,0)|&#8221; custom_padding=&#8221;||5%||false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>For a long time, the <strong>Finance department<\/strong> was perceived as a cost center, confined to its traditional missions of bookkeeping, closing and regulatory reporting. Those days are gone. Now, the <strong>Finance Department<\/strong> has established itself as a true strategic partner of the company, at the heart of transformation and value creation decisions.  <\/p>\n<p>But in concrete terms, what is the <strong>role of the Finance department<\/strong> today? What tasks does it have to perform? And how is it evolving in the face of the rise of<a href=\"https:\/\/www.sqorus.com\/en\/data-analytics\/artificial-intelligence\/\" title=\"AI expertise\">artificial intelligence<\/a>, the Cloud and new regulatory requirements?  <\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.6&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>The core missions of the Finance Department<br \/>\n<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.6&#8243; header_2_font=&#8221;|700|||on|||RGBA(255,255,255,0)|&#8221; custom_padding=&#8221;||5%||false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>For decades, the <strong>Finance function<\/strong> has structured its activities around a few fundamental pillars:<\/p>\n<ul>\n<li><strong>Accounting and financial reporting<\/strong>: produce reliable financial statements, on time and in compliance with current standards (IFRS, local standards, etc.).<\/li>\n<\/ul>\n<ul>\n<li><strong>Management control<\/strong>: monitor budgets, analyze variances, provide performance indicators to senior management.<\/li>\n<\/ul>\n<ul>\n<li><strong>Cash management<\/strong>: managing cash flow, optimizing working capital requirements, securing financing.<\/li>\n<\/ul>\n<ul>\n<li><strong>Tax and regulatory compliance<\/strong>: ensuring that the company complies with its legal, tax and social obligations.<\/li>\n<\/ul>\n<p>These missions remain essential prerequisites. But they are no longer sufficient to define the added value of a modern finance department. <\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.6&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Digital transformation of the finance function: from reporting to strategic management<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.6&#8243; header_2_font=&#8221;|700|||on|||RGBA(255,255,255,0)|&#8221; custom_padding=&#8221;||5%||false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><a href=\"https:\/\/www.sqorus.com\/en\/finance-transformation-consulting\/\" title=\"Our expertise in Digital Transformation\">Digital Transformation<\/a> has profoundly reconfigured the <strong>CFO<\/strong>&#8216;s scope of action. According to an <a href=\"https:\/\/www.gpomag.fr\/fonction-finance-3-transformations-qui-s-imposent-en-2026\/\" title=\"GPO Magazine\">SAP Concur study relayed by GPO Magazine<\/a>, 93% of CFOs feel that their role today goes beyond traditional finance, and 74% are directly involved in the company&#8217;s strategic decisions. <\/p>\n<p>This shift is not insignificant. It reflects a new reality: the <strong>Finance Department<\/strong> is now at the intersection of data, risk and the organization&#8217;s overall performance. It no longer simply photographs the past, but models the future.  <\/p>\n<p>In concrete terms, this means new responsibilities:<\/p>\n<ul>\n<li>Manage performance in real time, thanks to Business Intelligence and EPM (Enterprise Performance Management) tools that enable dynamic analysis and scenario simulation.<\/li>\n<\/ul>\n<ul>\n<li>Support investment decisions, by deciding on technological priorities and assessing the return on investment of transformation projects.<\/li>\n<\/ul>\n<ul>\n<li>Ensure the governance of financial data, guaranteeing the reliability, consistency and traceability of information across all information systems.<\/li>\n<\/ul>\n<ul>\n<li>Working closely with the IT department, in a CFO\/IT department tandem that has become essential for steering Finance IS modernization projects.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.6&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Artificial intelligence and the finance function: where do we stand in 2026?<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.6&#8243; header_2_font=&#8221;|700|||on|||RGBA(255,255,255,0)|&#8221; custom_padding=&#8221;||5%||false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><strong>AI<\/strong> is no longer a prospective subject for <strong>Finance Departments<\/strong>, it&#8217;s an operational reality.<\/p>\n<p>According to CFO Connect&#8217;s <a href=\"https:\/\/www.daf-mag.fr\/bi-1244\/transformation-processus-2133\/lia-dans-la-finance-les-cfo-priorisent-la-gestion-de-la-tresorerie-et-le-reporting-25036\" title=\"The State of AI in Finance 2026 report\">The State of AI in Finance 2026 report<\/a>, 82% of finance functions now use<strong>AI<\/strong> routinely in their processes, and 68% of respondents say that<a href=\"https:\/\/www.sqorus.com\/en\/enterprise-technologies\/process-automation\/\" title=\"Process automation\">automating<\/a> repetitive tasks has freed up time for strategic analysis.<\/p>\n<p>Use cases are multiplying:<\/p>\n<ul>\n<li><strong>Automate low value-added tasks<\/strong>: bank reconciliations, accounting entry, expense claim management, anomaly detection, etc.<\/li>\n<\/ul>\n<ul>\n<li><strong>Increased financial forecasting<\/strong>: 55% of companies use AI to refine their budgets and scenario analyses, reducing margins of error by an average of 20% compared with conventional methods.<\/li>\n<\/ul>\n<ul>\n<li><strong>Predictive cash flow analysis<\/strong>: algorithms enable you to anticipate cash requirements with unrivalled accuracy.<\/li>\n<\/ul>\n<ul>\n<li><strong>Real-time financial reporting<\/strong>: the ability to produce immediate, indisputable financial information is becoming a standard of credibility.<\/li>\n<\/ul>\n<p>There&#8217;s a simple explanation for this central positioning: who better than the CFO to assess the ROI of an AI project, control its costs and measure its impact on performance? According to <a href=\"https:\/\/www.daf-mag.fr\/bi-1244\/outils-si-2132\/5-tendances-incontournables-pour-les-directeurs-financiers-en-2026-23526\" title=\"OneStream\">OneStream<\/a>, 75% of CFOs now drive their organization&#8217;s AI strategy, ahead of technical departments and even CEOs. <\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.6&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>What are the challenges facing the CFO in 2026?<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.6&#8243; header_2_font=&#8221;|700|||on|||RGBA(255,255,255,0)|&#8221; custom_padding=&#8221;||5%||false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h3>Financial data governance: a central issue for CFOs<\/h3>\n<p>By 2029, 527.5 zettabytes of data will be generated worldwide (Statista). The challenge is no longer the quantity of information available, but the ability to exploit it accurately and rapidly. <\/p>\n<p>Yet 57% of <strong>CFOs<\/strong> still say they operate in an unpredictable environment, and 58% are now investing in advanced AI and analytical tools to regain control of their forecasts.<\/p>\n<p>The <strong>finance department<\/strong>, at the heart of the company&#8217;s data flows, is on the front line in guaranteeing their quality and consistency, through rigorous governance of repositories, KPIs and management rules linking ERP, EPM and reporting tools.<\/p>\n<h3>Regulatory compliance: electronic invoicing, ESG and international taxation<\/h3>\n<p><a href=\"https:\/\/www.sqorus.com\/en\/business-solutions\/electronic-invoicing\/\" title=\"Electronic invoicing\">Mandatory electronic invoicing<\/a> (due to come into force in France in September 2026), ESG reporting, changing international tax standards: regulatory constraints are piling up and becoming increasingly complex.<\/p>\n<p>The <strong>finance department<\/strong> must not only comply with these changes, but also anticipate them, so as to avoid costly emergency compliance measures.<\/p>\n<h3>Finance skills and talents: the human challenge of transformation<\/h3>\n<p>The transformation of the <strong>Finance function<\/strong> is also a human one. <a href=\"https:\/\/www.gpomag.fr\/fonction-finance-3-transformations-qui-s-imposent-en-2026\/\">30%<\/a> of CFOs identify attracting and retaining talent as a major challenge.<\/p>\n<p>Today&#8217;s <strong>finance teams<\/strong> need to master advanced technological tools, develop a data culture and adopt a business partner posture.<\/p>\n<p>In fact, <a href=\"https:\/\/www.daf-mag.fr\/bi-1244\/transformation-processus-2133\/lia-dans-la-finance-les-cfo-priorisent-la-gestion-de-la-tresorerie-et-le-reporting-25036\">62%<\/a> of CFOs cite employee skills development as the key factor in the success of their transformation.<\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.6&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>The Finance department at the heart of the company&#8217;s transformation<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.6&#8243; header_2_font=&#8221;|700|||on|||RGBA(255,255,255,0)|&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>In 2026, the <strong>finance department<\/strong> is no longer a mere cost center or support department. It has become an engine of transformation, capable of aligning financial performance, strategic management and technological innovation. <\/p>\n<p>To achieve this, we rely on high-performance <a href=\"https:\/\/www.sqorus.com\/en\/finance-solutions\/\" title=\"Our Si Finance expertise\">information systems<\/a>, robust data governance and advanced analysis tools. But above all, it relies on teams capable of bridging the gap between financial rigor and strategic vision. <\/p>\n<p>It is precisely in this area of transformation that SQORUS has been supporting <strong>finance departments<\/strong> for over 35 years: from the definition of IS Finance strategy to the integration of EPM, ERP and BI solutions, via change management and business process optimization.<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row custom_padding_last_edited=&#8221;on|desktop&#8221; module_class=&#8221;cta-bleu&#8221; _builder_version=&#8221;4.27.5&#8243; background_color=&#8221;#2029a0&#8243; background_image=&#8221;https:\/\/www.sqorus.com\/wp-content\/uploads\/2023\/12\/Bandeau-LB-Transfo-Finance-Opportunites.png&#8221; background_size=&#8221;contain&#8221; background_position=&#8221;center_right&#8221; width=&#8221;100%&#8221; width_tablet=&#8221;90%&#8221; width_phone=&#8221;90%&#8221; width_last_edited=&#8221;on|phone&#8221; custom_margin=&#8221;5%||3%||false|true&#8221; custom_padding=&#8221;50px|400px|50px|55px|true|false&#8221; custom_padding_tablet=&#8221;50px|55px|50px|55px|true|true&#8221; custom_padding_phone=&#8221;40px|55px|40px|55px|true|true&#8221; background_last_edited=&#8221;on|phone&#8221; background_enable_image_tablet=&#8221;off&#8221; border_radii=&#8221;on|23px|23px|23px|23px&#8221; global_module=&#8221;25041&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text module_class=&#8221;Titre_40 Titre_blanc&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; header_2_font_size=&#8221;30px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Digital transformation of the Finance function: how to identify growth opportunities?<\/h2>\n<p>[\/et_pb_text][et_pb_text module_class=&#8221;FondBleu&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_text_color=&#8221;#d6d8f4&#8243; text_line_height=&#8221;30px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Discover how Finance&#8217;s digital transformation can optimize your company&#8217;s performance, and effectively identify opportunities for growth.<\/p>\n<p>[\/et_pb_text][et_pb_button button_url=&#8221;https:\/\/www.sqorus.com\/en\/ebook-digital-transformation-of-the-finance-function-growth-opportunities\/&#8221; button_text=&#8221;Download&#8221; button_alignment=&#8221;left&#8221; button_alignment_tablet=&#8221;center&#8221; button_alignment_phone=&#8221;center&#8221; button_alignment_last_edited=&#8221;on|tablet&#8221; admin_label=&#8221;Bouton de t\u00e9l\u00e9chargement&#8221; module_class=&#8221;Bouton Fond_blanc&#8221; _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221; button_text_size=&#8221;15px&#8221; button_text_color=&#8221;#f36145&#8243; button_bg_color=&#8221;#FFFFFF&#8221; button_border_width=&#8221;1px&#8221; button_border_color=&#8221;#f36145&#8243; button_border_radius=&#8221;50px&#8221; button_font=&#8221;||||||||&#8221; button_use_icon=&#8221;off&#8221; custom_margin=&#8221;20px||||false|false&#8221; custom_padding=&#8221;13px|25px|13px|25px|false|false&#8221; custom_css_free_form=&#8221;selector:hover{||  background-color: #FFF6F5 !important;||}&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;section&#8221; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_module=&#8221;13401&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_row admin_label=&#8221;row&#8221; _builder_version=&#8221;4.16&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h3>Also read about the digital transformation of finance functions<\/p>\n<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/obligation-of-electronic-invoicing-and-e-reporting\/\">Electronic invoicing and e-reporting obligations<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/electronic-invoicing-reform-what-you-need-to-know\/\">E-invoicing reform: what you need to know<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/what-is-the-role-of-the-finance-department-today\/\">What is the role of the finance department today?<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/5-obstacles-to-the-digital-transformation-of-finance-functions\/\">5 obstacles to the digital transformation of finance functions<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/improve-financial-processes-with-automation-and-rpa\/\">Improving financial processes through automation and RPA<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/what-changes-does-dematerialisation-bring-to-the-finance-function\/\">What changes does dematerialization bring to the finance function?<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/the-finance-function-an-actor-of-change-in-the-digital-transformation-of-the-company\/\">The finance function, an agent of change in the company&#8217;s digital transformation<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/analyses-predictives-degager-valeur-ajoutee-detecter-opportunites-croissance\/\">Predictive analysis to generate added value and identify growth opportunities<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/gerer-talents-transformation-digitale-de-la-fonction-finance\/\">Better talent management to overcome the obstacles to the digital transformation of the finance function<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/provide-users-with-real-time-data-with-data-visualization\/\">Give users real-time data with data visualization<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/advanced-financial-analysis-to-improve-decision-support\/\">Advanced financial analysis for improved decision support<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/identify-the-business-processes-in-the-finance-function-that-would-benefit-most-from-digitization\/\">Identify the business processes in the finance function that would benefit most from digitization<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/security-at-the-heart-of-the-companys-financial-transformation\/\">Security at the heart of the company&#8217;s financial transformation strategy<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/dun-si-finance-vers-un-systeme-de-donnees-finance\/\">From a Finance IS to a Finance Data System<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/grands-defis-responsables-financiers\/\">What are the major challenges facing finance managers today?<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/enjeux-reglementaires-daf-2019\/\">What are the main regulatory challenges facing CFOs in 2023?<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/digitalisation-of-the-finance-function-what-can-we-expect-in-the-future\/\">Digitization of the finance function: what can we expect in the future?<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/finance-management-what-technological-tools-can-cfos-use\/\">Finance management: what technological tools are available to CFOs?<\/a><\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;Section &#8211; Contactez nous&#8221; module_class=&#8221;Fond_bleu Fond_icone&#8221; _builder_version=&#8221;4.26.1&#8243; custom_margin=&#8221;2rem||5rem||false|true&#8221; custom_margin_tablet=&#8221;4rem|40px|4rem|40px|true|true&#8221; custom_margin_phone=&#8221;|20px||20px|false|true&#8221; custom_margin_last_edited=&#8221;on|phone&#8221; custom_padding=&#8221;3rem||3rem||true|false&#8221; global_module=&#8221;31205&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_row make_equal=&#8221;on&#8221; admin_label=&#8221;Text block&#8221; module_class=&#8221;LargeurBox&#8221; _builder_version=&#8221;4.25.0&#8243; _module_preset=&#8221;default&#8221; animation_style=&#8221;fade&#8221; locked=&#8221;off&#8221; collapsed=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.25.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;|9rem||9rem|false|true&#8221; custom_padding_tablet=&#8221;|0rem||0rem|false|true&#8221; custom_padding_phone=&#8221;|0rem||0rem|false|true&#8221; custom_padding_last_edited=&#8221;on|desktop&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text admin_label=&#8221;Sous-titre&#8221; module_class=&#8221;SousTitre&#8221; _builder_version=&#8221;4.25.0&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_orientation=&#8221;center&#8221; custom_margin=&#8221;||10px||false|false&#8221; text_orientation_tablet=&#8221;&#8221; text_orientation_phone=&#8221;center&#8221; text_orientation_last_edited=&#8221;on|tablet&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Contact<\/p>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Titre &#8211; H2&#8243; module_class=&#8221;Titre_40&#8243; _builder_version=&#8221;4.25.0&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;center&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>A project? 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