My wife is a smart women, and a super bright financial services marketeer.
When she started her career she was part of an award winning team that used direct mail to do their business. Yes, printed paper stuffed in to envelopes sent to dubious lists of people to find new business, but it worked, and her team won a huge market share of customers in her companies industry and the successful career followed.
Fast forward 15 years to today, she has ridden a huge amount of professional change and she is as much a digital technology provider as she is a brilliant marketeer even though the same underlying marketing fundamentals apply.
As we know from our own experience, the marketing industry has gone through a massive tech change, and the early movers automated manual processes and managed their customer data as an asset, and today these same early movers are providing smart distinct digital communications to customers, discovering new relationships, using insights, and even mining contact details to enhance customer information…
They have embraced the tech change and the understanding of their customers and the value they provide the business has never been the same.
So CFO… what say you?
What if we turned that capability on ourselves, our businesses, and take business data and supercharged our understanding of business operations and performance?
Many finance teams have been been working at this from the bottom up through Fin Ops process improvements, but isn’t it time we looked at the whole business, and what finance can offer as value in this area?
So what’s next, what will happen in your team, where are all your finance function innovators?