The Digital Finance Function: An Insight Into the Finance Function of the Future

Oscar Møllebro Hemmingsen

Student thesis: Master thesis


The fourth industrial revolution has come upon businesses worldwide. So much, it has been named Industry 4.0. This revolution makes sure that businesses and corporations utilizes digital technologies in their daily operations. However, digital technologies are not only for the strategic and operational part of businesses. Companies’ finance functions are increasingly using these new digital technologies in their daily work, and in many places this transformation has been fast paced. Today the finance function as we know it, and have known it, may not be the same in a short time span. This paper aims to study and research the changes of digital technologies on the finance function, and as to what we can expect of finance function in the future. This paper builds on a relatively new and uncharted field of study and seeks to analyze the all-around new coming changes to the finance function. In this context, the finance function is defined as the departments under the modern-day CFO (Chief Financial Officer), and this study will examine a broader spectrum of companies to show the general trend of the future finance function. Based on interviews with leading experts and employees in various companies, the interviewees where chosen based on their specific knowledge about this topic. Further, this paper aims to study a certain group of new digital technologies and their direct changes to the finance function. Areas in the finance function and under jurisdiction of the CFO, such as the expected future knowhow and skills of the employees, collaboration across the organization and the future role of the CFO, are all subjects of investigation in this paper. The results indicate that the finance function will be subject to a vast number of changes. First, the tools for the work in the finance function will change as well as the jobs that the employees are currently performing. Secondly, the finance function will become more central to the overall strategic decisions in corporations because of the new digital technologies

EducationsMSc in Finance and Accounting, (Graduate Programme) Final Thesis
Publication date2019
Number of pages81
SupervisorsJytte Grambo Larsen