Lessons from Digital CFO Lab, London

As I arrived at Holborn Bars to see the building covered in scaffolding and delivery lorries, my mood quickly shifted from excitement to the horror of finding an alternative venue at the last minute.

But after a nervous lap of the obscured building and finding the entrance in the same place as before (hurrah), I switched back to excitement and set up our latest offering to the Generation CFO community, the Digital CFO Lab.

DIGITAL, CFO, LAB.

Not an ideal name, but its difficult to communicate a new course based on new concepts in a market full of buzzwords, devoid of standard definitions and a common language…

But the marketing didn’t matter, as the mix of CFO’s and senior finance leaders knew what they were in for, as all had either attended our CFO Debate or had meet me to discuss the idea of Digital Finance Transformation.

Reflecting on the day, I took away the following top 10;

  1. The critical success factors of change and transformation are hugely valuable to leadership and misunderstood.
  2. Focusing on People, not Technology alone, is a good stretch for all busy leaders.
  3. Agreeing a common language is the foundation to communicating this shift.
  4. Leaders can underestimate the power of peer discussions and shared experience.
  5. A codified system to start or scale your Digital Finance journey is a huge benefit.
  6. Accepting who you are, and the support you need is critical to getting started.
  7. Most current spend is on short term costs to the business.
  8. Multi year spend to create a Digital Asset requires a new approach to spending.
  9. Combining the right Digital elements, multiplies the value of the project, no matter how small.
  10. As well as the learning, people joined for the networking and career chat during lunch and the break.

In 2020, we will be rolling out more Digital CFO Labs, to register you interest, please sign up here.

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