33% of Hong Kong finance leaders say their teams are not prepared for digital transformation, compared to only 20% in Singapore. Further, while 94% of Singaporean finance leaders are driving digital transformation initiatives in their companies, only 83% of Hong Kong finance leaders are doing the same.
A Workday report, ‘Finance Disrupted: The Impact of New Technologies on the Future of Finance’, found that 84% of Hong Kong finance leaders believe that rising digital transformation and automation will increase the number of jobs available for finance professionals locally.
Lee Thong Tan, Regional Financials Lead, ASEAN & North Asia at Workday said, “It is concerning that one in three finance teams leading digital transformation initiatives in Hong Kong feel unprepared, especially when we see such positive results by those who have embraced new technology.”
Other key statistics found in the report:
- Risk Management Analytical skills (23%), communications skills (20%) and analytical skills (18%) were cited as the top skills for finance professionals to have in the future.
- The greatest benefits from digital transformation are customer satisfaction (80%), enhanced availability of data and insights (76%) and market competitiveness (67%).
Paul Arkwright
Publisher
