Empowering future-ready finance teams with people, technology, and data

Walter Michael Escaño of Johnson & Johnson MedTech highlights how finance teams can balance technical fluency and human judgment in the digital age.

In today’s digital-first world, AI, automation, and big data are redefining the finance profession. These technologies are transforming how teams work and shaping what it means to be future-ready.

Walter Michael Escaño, FCCA and Information Technology Portfolio Manager – ASPAC & EMEA at Johnson & Johnson MedTech, discussed how finance teams can become future-ready and how technology and data are reshaping roles during the podcast “Finance Teams of the future: People, Technology & Data” with ACCA Singapore, in partnership with Singapore Business Review.

In this episode, hosted by Singapore Business Review Contributing Editor Simon Hyett, the discussion explored the evolving responsibilities of finance professionals and the leadership needed to navigate this transformation.

Redefining finance with tech and data

AI, automation, and big data are transforming finance teams, changing both their responsibilities and the expectations placed upon them. Escaño highlighted that these intelligent systems can now complete repetitive, manual tasks in seconds, freeing finance professionals to focus on higher-value work such as strategic decision-making, sharper forecasting, and proactive risk management. In Singapore and globally, this shift is redefining what it means to be an accountant or part of a finance team.

“It's no longer just about recording numbers or counting beans, as they used to say. It's about interpreting those numbers, questioning them, and using that insight to move the business forward,” said Escaño.

This transformation is evident in several ways, such as finance roles moving from transactional to strategic as automation handles routine tasks; decisions are faster and more informed with real-time analytics; accuracy and efficiency are improving; finance is collaborating across departments; skill sets now include digital literacy, data interpretation, and communication; and risk and compliance are strengthened through AI.

Examples include Siemens and Unilever using Robotic Process Automation (RPA) to speed up invoice processing, Coca-Cola leveraging predictive analytics for sales forecasting, Mastercard detecting fraud with AI, DBS improving credit scoring with AI, Singapore Airlines optimising pricing dynamically, and the Singapore government applying big data for smarter budgeting and resource allocation.

Future-ready skills

In a digitally-driven environment, Escaño noted that the most essential skill sets finance professionals need to possess are a mix of technical and strategic skills. On the technical side, combining deep finance knowledge with tech expertise is essential. Professionals are expected to work confidently with ERP systems, business intelligence tools, RPA platforms, cloud systems, and data governance frameworks. For strategic skills, adaptability, communication, strategic thinking, and emotional intelligence are vital, particularly as roles shift towards those requiring collaboration and creativity.

ACCA’s “The Top Skills Employers Want in 2025” highlights the need for hybrid expertise, cross-functional agility, and effective storytelling.

“The future belongs to finance professionals who combine solid technical knowledge with human judgment, creativity, and agility,” Escaño emphasised.

Finance leaders as role models

Finance leaders play a pivotal role in supporting their teams in building the right capabilities and mindset to adapt in a rapidly evolving environment. Escaño stressed that “finance leaders should model the behaviours they want to see in their team.”

This means championing continuous learning and upskilling through providing the time and resources, such as ACCA’s professional development programmes, IBF-certified courses, and global initiatives in AI, fintech, and data analytics. Leaders should foster a culture of adaptability and experimentation, encourage mentorship to build strategic thinking and emotional intelligence, and promote cross-functional collaboration.

“ACCA highlights that finance professionals, who combine technical fluency and human judgment and creativity, are best positioned to add value.”

Accountants and finance leaders also have a vital role in ensuring AI technologies are deployed responsibly and transparently. “When we talk about the evolving role of accountants, risk management, cybersecurity, and ethical AI governance are becoming front and centre,” Escaño stated.

He remarked that per an EY article, AI is transforming tax functions by automating data gathering, organisation, and analysis, making comparisons easier and inconsistencies quicker to detect. He highlighted that ethical AI and regulatory oversight remain essential, with accountants well-placed to ensure transparency, fairness, and risk control.

Safeguarding finance in the digital age

Cybersecurity and digital resilience have become core responsibilities for finance teams. Escaño emphasised that, according to Singapore’s Jobs Transformation Map, finance professionals, particularly accountants, must strengthen skills in cybersecurity, risk awareness, and change management to safeguard internal controls.

This includes collaborating closely with IT and other departments, embedding cyber risk into financial controls, and ensuring strong data governance and protection for sensitive information such as budgets, actuals, and payrolls. Scenario planning and stress testing must also be conducted to anticipate vulnerabilities and improve response readiness.

Accountants today are no longer just number crunchers but strategic guardians of ethics, risk, and trust in a digital-first world.

“Success isn't just about technology; it's about combining technical skills with strategic thinking, emotional intelligence, and a mindset of lifelong learning,” Escaño said. “The future of finance isn't just about the numbers, it's about using those numbers to build trust and deliver real value.”

For more resources and professional development opportunities, visit www.accaglobal.com.