What’s next in tech for finance? Citizen-led innovation

Technology continues to reshape our world and has been accelerated by the pandemic. As you rethink processes for the new environment, you may be asking how technology can help improve efficiency and effectiveness. This podcast is the second episode in the second season of our What’s next? podcast series for CFOs, controllers—anyone in finance. This season we’re focusing on what’s next in tech for the finance professional - discussing the benefits of technology through the lens of the finance function. In this episode, host Heather Horn sits down with Paul Sheward, a partner on PwC’s innovation leadership team, to discuss citizen-led innovation. Topics include:0:48 - What is citizen-led innovation? Citizen-led innovation is about adapting to a changing environment to rethink what you do and how you do it. We begin by talking about the importance of empowering workers to upskill. 5:03 - Where to start? You don’t need to come from a technology background to understand and apply new technologies. Paul advises to start small, prove the concept, and then expand it within the organization. 10:51 - What are the key areas of citizen-led innovation? There are three key legs of the citizen-innovation stool: data analysis, automation, and visualization. We explore the areas most ripe for innovation within the finance function.20:52 - What if you hit a barrier? Employees may be resistant to innovation and technological change, especially if they think it will eliminate their position. Paul discusses some of the common challenges he’s seen and shares best practices for making a culture of innovation stick.  30:50 - What’s exciting about the future? Fueled by the ability to adapt quickly, Paul lets us know that the future of citizen-led innovation is bright. Paul Sheward is a member of PwC’s assurance innovation leadership team with primary responsibility for leading citizen-innovation activities for the assurance practice. Paul is responsible for the development and implementation of a strategy to ensure that PwC’s assurance professionals develop and apply advanced digital acumen in delivering services to our clients.Heather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].