Countdown to digitalised finance…

Learning from history…

I have worked in the finance function all my career, some 25+ years, and during that time I have had three career phases;

  1. Finance : From FinOps to Core Finance to Divisional CFO
  2. Finance Change : Finance Transformation and Shared Services Programme Lead
  3. Finance BI and Analytics : Reporting, Analysis and Analytics, Finance and Treasury Functional Lead

My 4th Phase, is Generation CFO…

Through Generation CFO I aim to help finance professionals adopt new ways of working driven by digital transformation and a rapidly changing technology roadmap, or what I call…

“Digitalised Finance” and “CFO Innovation”

Why?

Personally, I have always preferred to be part of the solution, than the problem and as a natural team player, I feel hugely motivated to help serve my extended finance team (the members of Generation CFO) discover new innovative solutions in high value areas.

It is clear to me that their is a huge knowledge gap in finance relating to the impact of digital transformation on business and the finance function, and I want to help finance professionals learn how to transform their roles, assess their productivity and revolutionise the value they bring to their businesses.

And frankly speaking, finance has the most to gain and lose from the impact of data tsunami and smart technology.

Do or die… Staying relevant.  

Finance has always been the keeper of business insight and the board looked to the CFO and finance to make sense of the results and make directional adjustments.  But things are changing, data democratisation and “in process” analytics used closer to source (not centralised in finance) are eroding the privileged position CFO’s and finance have as “whole business” controllers.

And more user friendly non-technical data tools are being used in all functions, to produce operational reporting, as well as analysis, forecasts and insights, which is eroding the finance role of data interpreter, judgment expert.

So we need to raise our game, simply to stay relevant.

And don’t be complacent as a senior manager or CFO, as this change is no longer on a 5-10 years road map, in the “too hard” box, something for IT (or the next CFO) to worry about… the change is here!  It is being designed and delivered today, and if you aren’t doing it, your competitors are.

But all is not lost, and finance can move decisively to keep a seat at the table and that is what I am focused on for the foreseeable future.

My guiding principles…

  1. To focus on high value areas that will positively impact finance & the business
  2. To support, educate and coach finance professional to be more insightful and influential 
  3. To lead finance through the democratised world of data analytics and innovation

Enjoy the ride!

Thanks

Chris

Founder, Generation CFO

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