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Financeleadership is undoubtedly not a cakewalk, as it involves various roles for the organisation to grow and drive value. Chief finance officers now work as strategic advisors to the C-suite team, with specific strategies at hand to bring in innovation for the company as a whole.
The finance function must adapt to digital disruption, integrating automation and real-time data analysis to enhance decision-making processes. CFOs are expected to manage financial risks and drive strategic growth initiatives.
The finance function is undergoing a seismic shift. Technological advancements, evolving market demands, and a heightened focus on sustainability are converging to reshape the finance landscape. A recent report by McKinsey estimates that automation could potentially displace up to 30% of work activities in finance and accounting.
How to Prepare Your Finance Team for Growth One of your most important roles is to nurture and develop your finance team. Preparing your finance team for growth is not just about giving them new tasks; its about equipping them with the skills, mindset, and tools to thrive in a changing world.
By decentralizing financial responsibility, nonprofits unlock powerful advantages including: Increased Transparency : Leaders who understand their budgets reduce the risk of financial mismanagement and foster trust within the organization. Standardize Financial Reports : Develop easy-to-read templates for monthly department reports.
What does this mean to the finance and accounting team of 2022? According to Gartner , finance leaders anticipate a greater percentage of their time will be spent in improving flexibility of budgeting & forecasting (58%), closely followed by developing digital skills (56%) and redefining employee value proposition in hybrid environments.
The CFOs New Mandate: Scott Farrell’s take on Emotional Intelligence, Leadership, and Judgement in a Complex World The role of the CFO is evolving faster than ever, and its no longer just about numbers. This is a notable contrast to companies like GitLab, which successfully operates with a 100% remote finance department.
Cultivating Organisational Success Through Effective LeadershipLeadership plays a critical role in driving the success of any organisation, especially when navigating the complexities of today’s fast-paced business world. Simplify complex financialdata when communicating with non-financial staff.
The CFO role traditionally has two high-level leadership archetypes: strategic and operational. An operational CFO optimizes performance by combining data from various departments with financialdata. What is Operational Finance? It involves analyzing financial statements and data from different business units.
Members’ Profile: Rofhiwa Irene Singo In this edition of our CFO Spotlight series, we are featuring Rofhiwa Irene Singo, an accomplished finance leader whose journey is a testament to resilience, adaptability, and impactful leadership. What sparked your interest in finance?
The CFO is not just the gatekeeper of financialdata. Building a personal leadership philosophy is one of the most powerful things you can do as a CFO. Your Leadership Philosophy Is Not for Show, It Is for Survival Your personal leadership philosophy is your rulebook. You are reading the room. It is for you.
Deirdre Ryan, global finance transformation leader at EY, says many EY clients have tested these technologies and developed proofs of concept, often in finance, marketing, and product development. Its critical that finance executives get their hands dirty and understand these capabilities, she argues.
FutureCFO:What excites you the most when you work with the Finance Function? NTN: What excites me most when working with finance leaders is the human side of complexity - the ability to understand their unique perspectives, connect deeply, and co-create solutions that truly make a difference. That experience was truly transformative.
At the FutureCFO Conference series, organised by Cxociety, finance leaders in Indonesia, Malaysia, Singapore, the Philippines and Thailand ranked automation and degitalisation (80%), investing in talent and employee development (58%) and continuous innovation (47%) as the top three strategies most important to sustainable growth in 2024.
One industry that tends to be recession-resistant is finance. After all, people will always need financial services, whether investing their money , taking out loans, or managing their taxes. And while the finance industry has seen its share of ups and downs over the years, it generally bounces back fairly quickly after a downturn.
Gartner says to build an AI-driven finance organisation for the future will require a combination of technical and business skills that many finance teams do not have today. Mark D McDonald He adds that leading finance teams will learn to position AI-driven tools and solutions as co-workers that help them do their jobs better.
Top 5 Signs Your Accounting Is a Mess (And How to Fix It) When your nonprofits finances feel offbut you cant quite put your finger on whyits often because the accounting system is quietly unraveling behind the scenes. Monthly financial reports should be shared with leadership on a consistent timeline. Get the free guide!
AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO. AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals.
Editor’s note: GenAI adoption is touted to bring benefits to enterprises and their finance functions. IDC forecasts that the APAC GenAI market will grow by 85% CAGR from 2022 to 2027, with the financial services industry as one of the leading adopters.
Digital transformation has elevated the role of the finance function from financial steward to enabled. The extended COVID-19 pandemic has upped the ante in the race to finance agility. Source: Financial Accounting Advisory Services (FAAS) | 7th Global Corporate Reporting Survey | February 2021, EY. Best practices.
Gartner says finance transformation encompasses strategic initiatives designed to revolutionise the way the corporate finance function manages its strategy, processes, internal controls, and financial reporting. CFOs must accelerate their finance transformation journey towards autonomous finance or risk falling behind.
If those systems remain siloed post-close, leadership may lack accurate data for key decisions, and finance teams could be stuck reconciling figures manually. Early IT due diligence, followed by a structured integration plan, ensures scalability and data consistency from the outset.
As the role of the finance leader evolves beyond compliance and control, strategic decision-making increasingly relies on the intelligent use of data. But not just any data. Its the quality, relevance, and timing of information that separates high-performing finance functions from reactive number-crunching.
Delivering products even Accenture's The Cloud First CFO Study – 2022 edition reveals that in a survey of 740 finance leaders across 15 industries and 11 countries, 39% say the CFO now leads the cloud journey for the whole enterprise. The delivery covers 98% area of Indonesia and 41 international countries to date.
Yvonne’s career in finance and leadership has positioned her as an influential figure, holding executive roles since 2005 and contributing significantly to MINT’s growth and innovation. Prefer workout in the evenings What sparked your interest in finance? Then I will look at emails and plan so by 8am the day is ready to go.
While companies have been transforming their finance models over the last decade, Covid accelerated this process. With this shift to the cloud, companies have more data than ever at their fingertips – data ready to be analysed and potentially turned into valuable business insights.
For finance professionals, centralisation means gaining clarity. It simplifies oversight, reduces duplication, and allows the finance team to track what is happening in real time. In this model, the finance team takes on a new role. Instead of controlling every detail, finance becomes a strategic partner.
Learn how leveraging financial analytics improves decision-making 3. Portfolio Managers expect data, not insights The Challenge: Some PE portfolio managers primarily seek raw financialdata, without engaging FP&A as a source of strategic insights. This limits FP&As ability to influence decision-making.
On the positive side, developing a deeper understanding of financial metrics and trends empowers you to make smarter, more strategic financial decisions, assess pros and cons of various financial details, interact more effectively with investors, and pivot quickly when the financial winds change.
Someone has to be the storyteller, Collis tells us, emphasizing how framing financialdata in relatable terms helps drive organizational alignment and decision-making. His transition into leadership roles provided opportunities to engage directly with business leaders, crafting financial strategies that supported operational goals.
BlackLine recently published a report titled, Finance & Accounting: in a Post-COVID World: Navigating the Changing Landscape. FutureCFO’s discussions with finance leaders in Asia identified similar conditions. Smagh opined that some of the concerns had to do with the years of the approach of work within the finance function. “As
Implement a Strict Conflict of Interest Policy Every nonprofit should require board members and key leadership to disclose conflicts of interest annually. Do You Struggle to Make Sense of Your Financial Statements? Do You Struggle to Make Sense of Your Financial Statements? Download it for later. Get the free guide!
A strategic FP&A capability built on the right infrastructure of data, insights & collaboration allow our clients to enhance forecasting, streamline budgeting, and adapt quickly to risk & opportunities that arise in the business. This approach helps eliminate these issues and enables more informed decision-making.
Types of Data for Nonprofits The types of data a nonprofit might use for decision-making can vary between organizations. Most nonprofits will use at least one of three types of data: Financialdata: Financialdata includes any data relating to the finances of the organization, such as revenue or expense data.
The growing variety and complexity of tasks within the finance function has resulted in the creation of a discipline that is supposed to become a bridge between the finance and business to support decision-making process by leveraging data and technology. This relates to FP&A which stands for financial planning and analysis.
Im passionate about lifelong learning, so I dedicate time to explore how the latest tools can solve real-world business problems and revolutionise industries like finance and supply chain management. FutureCFO: What excites you the most when you work with CFOs and finance functions? I feel truly privileged to be part of this journey.
FutureCFO: What excites you the most when you work with the Finance Function? JB: I’ve always enjoyed working with finance leaders because they are deeply involved in shaping the direction of the business. These are the capabilities finance teams need to support strategic decision-making and respond to business demands with confidence.
Implement a unified financial reporting and ERP software tailored to healthcare needs. Ensure Consistent FinancialData Consistent financialdata is another critical component of accurate reporting, analysis, and decision-making, all of which are crucial for supporting patient care initiatives.
We heard from numerous finance leaders and experts at SuiteWorld 2023, NetSuite’s annual user conference, and they were brimming with fresh and challenging ideas that can help companies right now. Making this a reality starts with accurate, real-time, and expansive financialdata. Here’s a sampling.
The Women in Leadership report by Wharton noted that women occupy a significant proportion of management roles but are scarce in executive and C-Suite roles. The number of women in the leadership pipeline is shrinking, indicating gender inequality in leadership is going to get even worse.
Indeed, GenAI, with its ability to collect and interpret financialdata on a vast scale, could force some of the Arabian Gulf region’s biggest banks to rethink their already costly digital banking strategies. That leadership could prove temporary, however, and may be just as likely to benefit traditional banks.
Editor’s note: Wei Zheng (pictured), Finance Director, Hays Asia shed light on what matters when it comes to leadership, how you can progress to become a leader, and the biggest challenge facing finance leaders today. This interview is part of FutureCFO’s Female Leadership in Finance Series.
The head of finance for the acquired firm struggled to present the information clearly, while the new owners shifted uneasily in their seats. LaPeer instinctively stepped in, simplifying the explanation of complex details and demonstrating her ability to distill intricate financialdata while effectively reading the room.
In 2025 we can expect agentic AI to permeate industries like healthcare, logistics, manufacturing, and customer service, as well as improving business operations in areas such as finance, compliance and process optimization. We firmly believe that knowledge and skills are important.
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