What does the next 80 years of global finance look like?

December 29, 2011
In the December 2011 issue of Financial Executives Magazine, FEI asks just that, what does the next 80 years of global finance look like? The feature article of the issue, [FEI@80: The Next 80 Years](http://www.financialexecutives.org/KenticoCMS/Financial-Executive-Magazi...), presents comments from many leading financial executives and business leaders to weigh-in on how global finance will evolve. Two members of our WebFilings team joined their peers, commenting on the issue. Former FASB chairman and member of the WebFilings Advisory Board, Robert Herz believes, “Will there still be the basic financial statements or will it be replaced by just electronic data that you can plug into your model and create your own build-to-suit financial statements? I believe there still will be a core set of financial statements and there will be the ability to plug in data to your models. Some of these mentioned here will occur well before 80 years.“ Joe Howell, co-founder and managing director of WebFilings, also believes there will be change. “There is no reason to believe that financial information is immune from the technologies that caused dramatic changes in other types of information. The universal labeling of financial information with XBRL promises to commoditize financial information just as MP3 technology did with music,” he comments. “It will certainly be more expensive, complicated and difficult to digitize financial information. But it will happen.” Read more from Bob Herz, Joe Howell and other top financial executives and business leaders, [visit the December 2011 issue of Financial Executives Magazine.](http://www.financialexecutives.org/KenticoCMS/Financial-Executive-Magazi...)
Mike Sellberg

About the author

Mike Sellberg is Executive Vice President and Chief Product Officer at Workiva. He is the former EVP and CTO at iMed Studios and the former Divisional General Manager at Engineering Animation, Inc.