You’ve had such a dynamic career across sectors - public, private, IPOs, transformations. Before we get into all of that, I’d love for you to tell us a bit about your journey.
My career has been a long, dynamic journey, one I often compare to a flight, with different phases, destinations, and moments of turbulence. It began in 1994 at American Express, where I built a strong foundation in finance, moving through roles like accountant, chief accountant, and supervisor while earning my CPA. From there, I took on leadership roles across both the public and private sectors, helping organizations through major transformations, whether it was transitioning from cash to accrual accounting, implementing ERP systems like Oracle and SAP, or preparing for IPOs. One of the highlights was leading the IPO of the National Company for Learning and Education in Saudi Arabia, where I saw firsthand how a family-run business could evolve into a publicly listed market leader. Over the last 30 years, I’ve worked across different regions—including the Middle East, North Africa, and Europe, gaining perspective not just on finance, but on people, culture, and change. Each experience added a new layer to my journey, and I still believe there’s more to come.

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You’ve worked in both the public and private sectors. What’s something you learned in  government that the private sector often overlooks and vice versa?
Working across both public and private sectors taught me that each side operates with a very different mindset, and both have blind spots. In government roles, I saw how ambitious and forward-looking public sector organizations can be, especially in places like Saudi Arabia where there’s strong backing for transformation and investment in long-term systems. They often have the freedom to build for the future without the same budget constraints or short-term pressures that private companies face. On the other hand, the private sector is typically more disciplined when it comes to cost control, ROI, and decision-making speed, because they’re accountable to shareholders and competition is real. What the private sector sometimes overlooks is the value of investing early in foundational systems and long-term planning. And what the public sector can miss is the urgency and commercial edge that comes from operating in a more competitive environment. The sweet spot lies in borrowing the best of both, being strategic like the public sector, but lean and execution-focused like the private one.

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You led the IPO for the National Company for Learning and Education. What do people not talk about enough when it comes to taking a family-run company public?
What people don’t talk about enough is how emotionally and operationally intense it is to take a family-run company public. On paper, it looks like a financial milestone, but behind the scenes, it’s a massive transformation. Many companies are excited about the idea of listing, but underestimate how much internal change is required to actually get there. From restructuring governance to tightening financial controls and shifting the mindset from family-run to shareholder-driven, it’s a cultural shift as much as a strategic one. There’s often resistance, unexpected costs, and a realization that the six-month IPO timeline you envisioned might actually take two years. In the case of the National Company for Learning and Education, I joined during the final stretch of IPO preparation, and even then, it was clear that their earlier years of groundwork had made all the difference. They invested in systems, transparency, and professional leadership early, and that’s what helped them succeed post-listing. It’s not just about going public, it’s about staying credible once you do.

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“Transformation” is often used as a buzzword but you’ve done it for real. What does it actually look like in the messy middle?
Transformation looks nothing like the polished slide decks, it’s resistance, setbacks, and a lot of uncomfortable change. You’re dealing with legacy systems people have used for 20 or 30 years, processes built on habit, and teams who are comfortable in their routines. It’s like waking someone from a deep sleep and asking them to run a marathon. The real work starts with mindset, getting leadership to lead from the front, breaking through resistance on the ground, and making sure people see the “why” before the “how.” Change doesn’t stick unless it’s people-led, not just system-driven. In my experience, you can’t force transformation, you have to seed it, nurture it, and walk through the discomfort with your team. That’s when it becomes real.

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How do you get teams to embrace change rather than resist it?
The real shift happens when you stop just reporting numbers and start shaping decisions. Early in your career, it’s natural to focus on spreadsheets and reports, that’s how you build technical credibility. But to grow, you have to move from being the person who prepares the numbers to the person who guides the business with them. That means delegating the routine work, building a strong team, and freeing yourself up to think strategically. You spend more time with other departments, understanding their goals, challenges, and how finance can help. It’s also about communication, translating data into insights that drive action. The ones who make the leap are those who become business partners, not just finance experts. They know the numbers, but they also know the people, the story, and the impact behind them.

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Many finance professionals struggle to evolve beyond the “numbers person.” What separates those who do?
The ones who evolve beyond being just the “numbers person” are the ones who realize that technical skills alone won’t get you to the leadership table. It’s not enough to prepare the reports, you need to understand what those numbers mean for the business, and more importantly, help others understand too. That shift starts when you build a strong team you can trust with the day-to-day, so you can focus on the bigger picture. It means spending more time with operations, HR, sales, learning their challenges and showing how finance can support growth, not just control costs. It’s about becoming a translator between data and decisions. The professionals who grow are the ones who step out from behind the spreadsheet and become active, trusted partners to the business.

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Where should finance teams lean in when it comes to AI, and where should they be cautious?
Finance teams should lean in on using AI to automate repetitive, time-consuming tasks, things like document analysis, reconciliations, and report generation. These are areas where AI can save hours, reduce human error, and give teams more time to focus on strategic work. But where they need to be cautious is in over-relying on it without validation. AI can speed things up, but it can’t replace judgment. You still need human oversight to review outputs, spot context-specific risks, and make informed decisions. The mindset shouldn’t be “AI will do it for me”, it should be “AI will help me do it better.” Use it as an assistant, not a replacement. And most importantly, lead by example. When teams see their leaders experimenting with and benefiting from AI, they’re more likely to adopt it in meaningful ways.

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How do you encourage your team to adopt AI in their workflows?
I keep it simple: I show them, not just tell them. If someone on the team is spending hours on a task, summarizing a report, cleaning data, building a model, I’ll step in and ask, “Have you tried using AI for this?” Then I’ll walk them through how it can help, even if it’s just something like ChatGPT or a basic tool. Most people resist new tech because it feels overwhelming or irrelevant. But when they see a real example, when AI helps them finish in 30 minutes what used to take 3 hours, that’s when it clicks. I don’t push tools they’re not ready for, but I do lead by example and create a culture where it’s safe to try, fail, and learn. You build adoption by making AI useful, not mandatory.

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You’ve spent much of your career in Saudi. How is Vision 2030 showing up in everyday business conversations?
Vision 2030 isn’t just a national plan anymore, it’s shaping real, everyday business decisions. You see it in how companies think bigger, move faster, and invest more confidently in growth and innovation. Whether it’s expanding into new sectors, modernizing systems, or scaling operations, there’s a clear sense that the environment is ready for bold moves. I’ve worked with businesses that set 5-year goals and hit them in 2 because the momentum around them pushed everyone forward. Vision 2030 has created a mindset shift, companies aren’t just reacting to change, they’re driving it. And when you operate in a market that’s this ambitious, it raises the bar for everyone.

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What advice would you give a first-time CFO in their first 90 days?
Listen first, act later. Your first 90 days as a CFO shouldn’t be about proving yourself, it should be about understanding the business inside out. Spend time with people at every level, not just the executive team. Ask questions, read the financials, study the systems, and observe the dynamics. Don’t assume you need to have all the answers on day one. Instead, build trust by being curious, collaborative, and clear about your intent. Set a simple plan, weekly goals, checkpoints with leadership, and space to adjust as you learn more. And remember, you’re not there to change everything overnight. You’re there to add value without disrupting what’s already working. Be humble, be strategic, and let your impact grow over time.

‍Where is your journey headed in the next five years?I still see myself in the cockpit, flying, not landing just yet. While I once thought I’d slow down by 60, I’ve realized there’s more to contribute, more to build. Over the next five years, I see myself continuing in leadership roles where I can drive meaningful change, whether that’s guiding a company through transformation, mentoring the next generation of finance leaders, or even taking on strategic consulting projects. Eventually, I do hope to return home to Egypt and live a quieter life with my family. But for now, the journey continues, with purpose, energy, and the belief that there’s still plenty of value to create before I touch down.

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Bio

With over 20 years of experience in finance and more than 15 years dedicated to accounting advisory, financial planning, IFRS, and budget control, Amro brings deep technical expertise and executive leadership to every role he takes on.

His background spans corporate governance, policy and procedure development, and organizational planning, with a consistent focus on aligning financial operations to international standards. He also has in-depth experience in ERP system planning, implementation, and optimization.

Known for his analytical skills, strong team leadership, and clear communication, Amro combines financial precision with a practical, results-driven approach.

You’ve had a non-traditional path into tech and finance leadership. How did it all begin?
About 10 years ago, I thought I’d become a partner at an audit firm. That was the plan.

But my first real opportunity came from a company setting up in Riyadh, no office, just a warehouse. I convinced my dad to let me interview there, and that’s how I joined Wadi.com. It was fast-paced, experimental, and messy in the best way. Within months, I was building full P&Ls, not just crunching numbers.

Later I joined Shipa to build their Saudi operations from scratch, which taught me a lot about legal setup, regulation, and how competitive the market really is.

Now at Squadio, I lead finance and strategy. It’s not just a job, it’s a creative lab. We’re building, evolving, and scaling, and I love that no two weeks look the same.

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You stepped into a CFO role after years in operational finance. What changed when the job became more about leadership? 

You have to step outside the boundaries of your own department and ask bigger questions. It’s no longer about “Are my numbers right?” It’s about “What are we building, and is it sustainable?”

Leadership, in any function, means you can’t stay in your silo. You have to challenge others, understand the product, and zoom out to the bigger picture.

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Finance is often seen as a bottleneck in fast-moving startups. How do you avoid that?

Finance needs to be embedded in your system. I don’t want people constantly going back and forth with the finance team for approvals.

So I make it a point to align early. I’ll sit with sales or other teams and tell them what’s doable and what’s not so they don’t need to ask every time. We also build things into the system itself.

For example, when we automated hiring, we created a hiring projection tracker in ClickUp. If a role was above the approved threshold, it was a no-go. If it was within, you could proceed without asking me. That’s the goal: self-awareness and clarity, not bottlenecks.

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You’ve worked closely with investors. What do they care about most that finance teams sometimes miss?

Investors mostly want to focus on sustainability. Not just your burn or your margins or your payback. They care about what value your business brings to this region and whether it will last.

One round of 5 or 10 million should create real value, not just lead to another round. Also, not everything from Silicon Valley applies here. You need a model that works for this market.

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When you’re hiring finance talent at a startup, what do you look for?

Exceptional communication skills and curiosity. I want people who will ask questions, not just run numbers. A lot of finance folks prefer to stay in the background. I don’t want that. I want someone who will say, “Let’s book a meeting and understand why this happened.”

A red flag for me is a corporate mindset. In a startup, we might’ve made the process three days ago in a meeting. There’s no manual. You have to be flexible.

I work on an 80–20 rule: 80 percent is good enough. Move on. If you’re obsessed with presentation formats and perfection, you won’t survive in a startup. It’s not about pixel-perfect. It’s about impact.

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What’s one tool that genuinely changed your day-to-day?

Power BI. It completely changed how we work. We used to manually pull data just to get one number. Now we have live dashboards where you can drill down as much as you want.

It’s not just for finance. We use it across the business. From open roles to hiring pipelines to profitability forecasts. And it’s live. That changed everything for us.

We also use SIFT Analytics, which integrates with Xero. It helps with consolidation, ratios, and analytics all in one place.

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You’ve built ERP, payroll, budgeting, and compliance from scratch. What’s one painful but valuable lesson from that?

You never realize how fast you can scale. And then the system you picked becomes a bottleneck.

It’s fine to start with basic tools. That’s normal in early stages. But don’t over-customize or over-engineer too soon. Always think: can this scale with us?

Pick tools that are easy to use. If it’s too complicated, your team won’t use it properly. Start small, but build with tomorrow in mind.

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You’ve lived in Saudi for 20 years. What excites you most about the ecosystem today?

We’re no longer just replicating global products. We’re building for this region from scratch. That’s exciting.

Things are moving fast: serious funding, serious hiring, serious products. And that creates a lot of new challenges too.

For finance teams, the biggest shift is understanding how to explain new business models, even when the regulator doesn’t fully exist yet. You have to help founders and auditors understand how money flows in and out. Education is as important as reporting.

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What’s one thing finance professionals need to grow into leadership that they won’t learn from a course?

It’s confidence, honestly.

You can do all the certifications you want, but if you can’t talk to people, build relationships, or start a conversation, you’ll struggle.

You’re not going to walk into a room and say, “Hi, are you raising money?” That’s not how it works. You need to ask, “Where are you from?” “Why are you here?” That’s how relationships start.

So if there’s one course I’d recommend, it’s not a finance course. It’s a communication one.

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Bio

Maheen Wahid is a CFO who thrives at the intersection of chaos and creation, where startups are raw, scrappy, and ready to scale. With 12+ years of experience across MENA’s tech scene, she’s built finance functions from zero, restructured pricing engines, and led investor-backed growth at companies like Wadi.com, Shipa Delivery, and Squadio. Maheen is known not just for her financial acumen, but for her ability to bring clarity to uncertainty, build teams with heart, and turn messy beginnings into structured, scalable businesses. An ACCA and data science graduate, she leads with sharp thinking, grounded execution, and a deep belief that finance should enable vision, not just report on it.

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You've had a remarkable 25+ year journey in finance, spanning petroleum, chemicals, pharma, listed companies, joint ventures, and more. Can you walk us through your professional journey?

It’s been 26 years now, though it feels like I’m just getting started. I began my career at ExxonMobil, where I learned the value of being truly utilized and appreciated. That foundation taught me that how you achieve results matters as much as the results themselves. I carried those values into every role I held afterward. I spent the first half of my career in Egypt working with multinationals like Birla Group and Evyap Egypt, gaining experience with ERP systems like SAP and Oracle, establishing SOPs, and earning a Six Sigma Greenbelt. In 2010, I transitioned to Saudi Arabia, joining Ford KSA, followed by a pivotal role at Al-Mahed Group as Group Finance Director, where I prepared the company for an IPO. I later led finance transformation at Spimaco across 14 companies, followed by similar strategic work with Sigma Group and SNASCO Holding. Today, I serve as a Board Member at SNASCO and Group Advisor at Saudi Paper Group. It’s been a rewarding journey that continues to evolve.

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How would you describe your approach as a CFO today, especially when managing different business models and ownership structures?

To me, a CFO is not just a Chief Financial Officer, they are a Chief Forward Officer. Our role is to turn historical data into strategic foresight. It’s about being predictive and even prescriptive, like a doctor who diagnoses and prescribes ahead of the problem. I believe in extending that mindset to my team. I tell each team member they are the CFO of their domain, which builds ownership and accountability. For example, when someone once resisted presenting, I pushed them to lead, and they exceeded expectations. That’s how you grow leaders.

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You’ve led several finance transformations. What's one common mistake companies make when modernizing their finance systems?

The biggest mistake is confusing digitization with transformation. Digitization is a tool; transformation is a mindset. Many companies believe that adopting an ERP or robotic platform equates to transformation, but if people continue operating with the same old mindset, nothing truly changes. Successful transformation depends on four pillars: mindset, people, process, and systems. Overestimating tools while underestimating people is a common pitfall. Without leadership to align and guide this change, transformation will fall flat.

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Transformation can be challenging. How do you keep your team motivated through it?

I believe trust is the key to transformation. And trust comes from human connection. I build this through personal engagement, lunches, casual conversations, and showing genuine interest in my team’s challenges. I sit with them during troubleshooting sessions, not as their CFO, but as a team member. Recently, I encouraged each department to explore AI applications relevant to their work and report back weekly. This involvement empowers them to lead change, not just follow it.

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Is there a specific transformation you’re especially proud of?

Yes, at Spimaco, we aligned finance departments across 14 companies in multiple countries in preparation for a public listing. Within a year and two months, we implemented a 360-degree performance system across 37 departments, integrating Power BI with SAP HANA. Each department's strategic initiatives were cascaded into milestones and linked to broader corporate goals. I personally championed Power BI adoption and secured internal buy-in. The transformation not only improved visibility and accountability but also positioned us strongly for the IPO. I later replicated this framework at Sigma Group and SNASCO.

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Everyone’s talking about AI in finance. Where do you see real impact today?

There are two areas where AI can drive real impact: cash intelligence and enterprise value forecasting. Cash is critical to any business, and real-time dashboards powered by RPA and integrated with ERPs allow finance leaders to monitor cash positions, receivables, payables, and treasury activities across banks. The second area is using AI to dynamically model and project enterprise value using operational and market data. These insights are invaluable during M&A planning, factory relocations, or growth strategy discussions. AI can move finance from being reactive to truly strategic.

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You’ve hired across geographies. What do you look for when building your team?

Mindset, always. Skills can be learned, but mindset is foundational. I look for leadership potential, accountability, and alignment with the company’s values. I test for this through strategic questions rather than just technical assessments. And once they’re onboard, I invest in building them into leaders. At Al-Mahed Group, I even had a KPI called "prepare your successor." Leadership is about elevating others, not protecting your seat.

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Vision 2030 is transforming every sector in Saudi. What’s one shift you’re seeing today that wasn’t happening five years ago?

The rise of female leadership. It’s been incredible to witness. At Al-Mahed and other companies, I worked alongside talented Saudi women who were fast learners and deeply committed. In the last couple of years, I’ve seen more female finance directors and strategy heads at conferences and on leadership panels. When given the opportunity and support, they’ve truly flourished. That’s a powerful cultural shift.

You’ve worked across multiple industries: healthcare, FMCG, and now commercial finance. How do you adapt your financial strategies when switching sectors?

The role of finance is consistent across industries. We manage cash flow, drive revenue growth, and support profitability. What changes is how those goals are achieved.

In pharma, finance focuses on lifecycle management, patents, compliance, and regulations. In FMCG, it's more commercially driven, with a focus on margins, retail negotiations, and gross-to-net profitability. So while the core remains, the approach shifts based on the industry.

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How has your view of financial strategy evolved over time, especially as you’ve moved into senior leadership?

Finance used to be about compliance, protecting assets, preparing financials, and working with banks and auditors. It was more of a cost center.

Today, finance is expected to be a strategic partner. We are copilots to the CEO. We support digital transformation, contribute to commercial growth, help optimize operations, and play a major role in strategy. It's not just about control anymore. It is about enabling growth while staying responsible.

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What skills have been most important for you as a finance leader?

Mindset comes first. You need to shift from process orientation to business partnership. From complexity to simplicity. From rules and reports to relationships and real outcomes.Then come the skills: strategic thinking, analysis, business acumen, communication, and curiosity. On the technical side, finance professionals need to understand technology. Not as developers, but enough to use it effectively to solve problems.

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Let’s talk about the idea of finance being a “gatekeeper.” Do you agree with that perception?

In some companies, yes. Finance is seen as the function that always says no. No budget. Not compliant. But if we want to be real business partners, we have to help teams get to yes. If marketing asks for a campaign with no budget, instead of just rejecting it, we can work together to build a case. If the ROI is there, it may be worth the spend. We still ensure compliance and ethics. But we also enable smart decision-making.

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You’ve been building an audience through your “Dr. FP&A” series on LinkedIn. What inspired that?

I’ve always believed finance doesn't have to be boring. A global CFO once told me, "This is the first time I’ve seen a finance presentation delivered like a marketing guy." That stuck with me.

In leadership meetings, marketing teams bring stories and videos. Finance teams bring spreadsheets. I started a training program on data storytelling to fix that. How to make finance presentations clear, visual, and engaging. “Dr. FP&A” is my way of sharing those ideas.

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What’s your perspective on AI and automation in finance?

Technology is essential. It helps us free up time and focus on what matters. I implemented RPA in a previous company and automated 70 percent of the month-end closing. The bot handled data pulls, reports, and emails. AI helps with forecasting, scenario planning, even building presentations. It is embedded in many EPM tools now. Automation and AI allow us to shift from data gathering to delivering insights.

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Between startups and large corporations, who has the edge in adopting technologies like AI?

Startups are fast. Less hierarchy, faster decisions. But large companies have the resources and scale to invest in big tools. The real edge comes from mindset. I know a CEO in Saudi running a complex operation, from farm to table, entirely on AI. Not because of budget, but because he believes in technology. Leadership mindset makes the difference.

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How do you evaluate and choose the right tools to implement in your organization?

Start with the business problem, don’t follow trends just for the sake of it, then think about scalability. Can this solution grow across markets and teams? Third is ROI. But that’s not just about cost savings. A more motivated, efficient team is also ROI. Happy users, better workflows, and reduced manual work all contribute.

And finally, make sure the tool aligns with your business strategy and internal capabilities.

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When hiring for your team, what do you prioritize: experience, education, or something else?

Mindset is the top priority. Everything else can be taught. I look for curiosity, adaptability, and the ability to simplify. Someone who can build relationships, communicate insights, and understand the business. Education and certifications help, but the way someone thinks and collaborates matters more.

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What’s your approach to expense management and staying within budget?

It begins with planning. Resources must align with strategy and expected ROI.

Then comes real-time tracking. I ask my team to deduct expenses at the request or PO level, not after the spend happens. This gives better visibility and control from the start.

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Do you have real-time visibility into expenses today?

Yes, through our ERP system. If the budget and cost centers are set up correctly, and POs are raised with the right data, we can track in real time. If that setup is missing, it becomes manual and inefficient.

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As a CFO, what are the key metrics you track to measure success?

- Revenue growth, year over year or across multi-year trends.

- Profitability, especially gross margin by product or business unit.

- Bottom-line performance.

- And free cash flow. Cash is essential for sustaining and investing in the future.

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Bio

Dr. Mohamed ELRouby is a global finance and strategy leader with over 22 years of experience across top multinational corporations including Johnson & Johnson, Novartis, Allergan, Takeda, and Energizer. Throughout his career, he has held senior finance roles across multiple regions, driving strategic transformation and financial excellence on a global scale.

He is a recognized international finance speaker and author, known for his thought leadership in financial planning and corporate strategy. Dr. ELRouby has been featured among the Global Top 200 Power Leaders and was named Best FP&A Leader in the Middle East. He also received the “10 Best CFOs in Asia” award and is an active member of the MEA FP&A Council, appointed by the Association for Financial Professionals (AFP).

He holds several distinguished certifications: CGMA (Chartered Global Management Accountant) from CIMA UK, FPAC (Certified Corporate FP&A Professional) from AFP USA, CSCA (Certified in Strategy and Competitive Analysis) from IMA USA, and OKRP (Certified OKR Practitioner) from the OKR Institute.

Dr. ELRouby also holds an MBA in Finance & Investment from the Arab Academy for Science and Technology, and a Doctorate in Management, with a research focus on Generative AI and the future of finance.

In your experience, what steps in the digital transformation roadmap are most important for CFOs to prioritise early on?

I once attended a round table where I heard people killing digital transformation projects because they didn't know what to do. This issue highlights the importance of addressing foundational problems before pursuing transformation.

It's essential to start from the ground up; equipping analysts is vital before diving into data visualisation for senior management. There is still a misunderstanding that digital transformation only involves creating appealing dashboards for the C-suite without first ensuring that analysts have the right tools and data. The foundational database that analysts use must also be the base for the dashboards provided to leadership. Without this comprehensive view, efforts will fail.

I can assure you my team doesn’t spend 10 to 12 hours during closing weeks. We maintain reasonable working hours, and last New Year's, several of my team members enjoyed a barbecue in the desert instead of working. We don't endure the usual chaos during month-end closings. This success is primarily due to six months of hard work refining our processes, which has made closing smoother.

I’m also implementing a self-serve audit model, allowing auditors to access the necessary information directly rather than asking team members. This way, they can get whatever data they need faster without having to ask for it. 

You mentioned in your article that finance teams sometimes resist using KPIs from non-financial systems. Could you explain that? What do you think is needed to overcome this resistance?

I could write a lot about the resistance finance teams sometimes have to use KPIs from non-financial systems. It all starts with creating a positive environment for discussion and understanding that different departments, like operations and HR, have their perspectives. We need to be creative enough to recognise these differences and bridge any gaps.

For example, operational teams might focus on order dates, while finance looks at payment dates. If we don’t address these differences, it can lead to confusion. We must be flexible and build a data system that meets everyone’s needs. When team members feel a sense of ownership over the data, they’re more likely to work together. If they think finance only cares about its own reports, they won’t want to cooperate.

A good sign of success is when other teams actively seek our data or ask for access to our databases. This means we’ve created a system that benefits everyone. 

Your article* discusses the importance of digital transformation. How do you ensure that your finance team uses technology without feeling overwhelmed?

I believe certain roles are often filled based on experience and seniority rather than actual qualifications. The challenge I faced when I joined emaratech was that my team was worried about the workload and how to manage relationships during transitions. I told them not to worry about those aspects that are outside their realm. It's about leadership, which requires a softer touch. When I came in, I had one principle: I’m responsible for my team’s success and for managing any changes. I communicated to them that they need to give their best effort, and in return, my job is to help them manage the change so they don’t get overwhelmed.

When there are doubts or worries about change, it’s important to lead by example and create a space where they feel comfortable and supported. They need to understand that challenges will arise, but we will adapt and find solutions together. If we can keep the lines of communication open and ensure everyone is involved in the process, they won’t feel overwhelmed by the technology or the transitions we’re implementing.

[*Link to Tamer’s article: https://fpa-trends.com/article/digital-finance-transformation-skills-now]

What do you think is going to be the future of finance in the Middle East?

The only aspect in which the Middle East is different from the rest of the world is the need for tax advisors/consultants and accountants, given that the GCC region is joining the rest of the world in implementing a tax system.

For the rest of the aspects, the pressure is the same given how dynamic the business world is, and the world now is 100% connected. The challenge is high for finance professionals as the demand for a typical "finance controller" will continue to decline. At the same time, there is a need for a financial analyst with the right set of soft skills and data analytics /science & IT knowledge. This should respond to the organisational needs of meaningful reporting, financial KPIs that effectively communicate business results, and financial reports that conform to current standards and regulations.

The future will favour professionals who can integrate IT and operations to connect financial and operational datasets, creating new datasets capable of simulating business scenarios instantly by adjusting key operational elements. Young professionals must prepare for a future that demands these skills and capabilities.

How do you see AI and digital transformation impacting the future of the finance industry?

AI is a step that follows digital transformation. AI will not work unless you have the financial data ready in a way that AI can deal with it as data points. 

• In the next five years, AI/ML will eliminate the need for base accounting functions.
• AI will reduce the headcount required for FP&A and other functions.
• AI will add invaluable elements to a treasury function.

All of this begins with leveraging digital transformation technologies, whether they are free or paid. I recommend upskilling the team with the necessary knowledge, as investing in expensive solutions often leads to short-term benefits that may be discarded with changes in senior management. Finance teams should build their capacity to use available free technologies to adapt to the business and internal customer needs.

I'm proud of two use cases. In the first one, I turned 80 hours of manual work into 30 minutes of data model updates and generated $80 million in savings. In the second, I transformed all base reports, making detailed reports, management reports, and ad-hoc analyses easy and usually just a click away. This even enabled a self-service audit relationship.

Bio

Tamer Abomosalam is the Group CFO at emaratech. He is a seasoned global finance professional with over 20 years of experience in financial leadership roles, specialising in transformation, treasury, controlling, and the development of world-class finance functions. He has successfully driven highly visible commercial realignment projects in multinational enterprises, focusing on accelerating growth, reducing costs, and positioning companies to achieve above-trend commercial outcomes.

Tamer is adept at building and leading strong teams, creating a thriving collaborative environment, and simplifying complex situations to deliver consistent, innovative, and effective solutions. In recent roles, he has been pivotal in designing best-practice operating and service delivery models and optimising financial performance by architecting digital and business transformation solutions in multinational and large enterprises.

What do you think is going to be the future of finance in the Middle East in the next five to ten years? What trends do you see emerging?‍

In the next five to ten years, finance in the Middle East will likely become more strategic and integrated with corporate strategy. We’ll see increased adoption of technology and digital transformation, enhancing decision-making and efficiency. Routine financial functions may be outsourced to low-cost locations, allowing local teams to focus on strategic roles. 

With improved compliance and governance practices, such as corporate tax, the region is set to become more transparent and attractive to international investors. Overall, the finance sector’s future looks promising as it adapts to global standards.

How have you been using AI and tech in your team? ‍

Primarily, we have been using AI to bring more automation in finance. We deal with thousands of transactions and data points daily, and BI tools really help us make sense of it all through real-time analytics and trends. 

On the accounting side, we use Microsoft Dynamics, which introduces automation in accounting tasks. It automates a lot of tedious tasks, like accounts payable, and even generates general ledger entries automatically. As a result, our team can complete the month's closing faster, saving significant time and allowing more in-depth analysis. Overall, these advancements improve efficiency and enable us to focus more on strategic tasks.

My personal favourite is using AI to review legal contracts and documentation. It has easily reduced my reviewing time by 70-80%.

Given the availability of AI now, what challenges do you think the finance function will face?‍

With AI becoming more integrated into finance, we're actually seeing more opportunities than challenges. However, one main challenge is ensuring our teams are upskilled to use these new tools effectively.

Adapting to AI also means shifting our mindset from traditional processes to more innovative, data-driven approaches. While some might worry about job displacement, I think it's more about evolving roles. 

Service providers might also face challenges, as businesses might rely less on external consultants for things AI can handle in-house. Therefore, everyone needs to adapt and find ways to add value to this new landscape. It's key for us to stay ahead by understanding AI's capabilities and using them to help drive the business forward.

Bio

Sameer Bagul brings over 20 years of leadership experience in online travel and e-commerce, having played a central role in building and expanding Cleartrip and Traveazy across India and the Middle East. 

Sameer has been instrumental in the management buyout of a Middle Eastern business from Flipkart and has extensive experience leading digital and AI-driven transformations within financial operations. Under his leadership, the Middle East business grew to over $650 million in sales by the end of 2019. 

Prior to his role in Dubai as the CFO of Cleartrip, Sameer led corporate strategy, finance, accounting, business planning, and development. His expertise extends to restructuring organisations for compliance with taxation and regulatory requirements in India and the GCC markets.