The people, technology and innovations that are transforming the finance function

How Finance and Accounting leaders are preparing their function for the future.

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Finance Innovation & Tech Fest

The world is transforming. Businesses are facing relentless change. New technologies are emerging. Traditional financial and accounting processes are being disrupted and the pressure is on for CFOs, finance leaders and their finance teams to drive new digitally enabled business models. Technology is the essential tool and enabler of this shift, which is why we are hosting Finance Innovation & Tech Fest.

Finance Innovation & Tech Fest is produced by The Eventful Group in partnership with ACCA (Association of Chartered Certified Accountants) and CA ANZ (Chartered Accountants). To help meet your CPD requirements, up to 15 points will be available.

 

In partnership with (CMYK)                 CA_TM_logo_BR_Stacked_RGB

 

 

Meet the speakers

 
  • Ken Goldam

    Ken Goldman

    CFO, Yahoo (USA)
     
    How Technology is Enabling the CFO to Build and Transform Companies

    As CFO for Yahoo, Ken is responsible for Yahoo's global finance functions including financial planning and analysis, controllership, tax, treasury, and investor relations. Few people have had as much influence over Silicon Valley’s technology companies as Ken Goldman. He has worked in finance functions in the Valley for more than 30 years. You will hear about the accomplishments and disappointments...

    Read more >
     
  • Marina Trusa

    Marina Trusa

    General Manager Finance, OFX (OzForex Group)
     
    Designing the Transformed CFO

    In the era of digital transformation, no function is safe from change. For finance, digital transformation means not just comprehending the transformation of the organisation, but also grappling with how technology is transforming finance itself. Tech innovation in systems supporting financial planning and forecasting, dynamic budgeting, multiple-scenario planning and self-service management reporting continue to disrupt the skill set and operating...

    Read more >
     
  • Paula Kensington

    Paula Kensington

    CFO, Bulletproof Networks
     
    The Future and Work – Take the Step into 2035 and Beyond

    Gone are the days of annual plans and performance appraisals. Continuous conversations, how to help your employees grow and flourish and how they deliver value to the organisation is ever critical in this Agile Age. How you react will be vital in terms of future proofing your business, your team and yourself. You cannot afford to miss this transformation. Bulletproof...

    Read more >
     
  • Geoffrey Guilly

    Geoffrey Guilly

    CFO, Systra Asia Pacific
     
    The Impact of Artificial Intelligence on the Finance Function and the Business – A Framework to Benefit from the Potential of AI

    The rise of artificial intelligence capability brings new benefits as well as challenges for CFOs and for businesses. AI has a substantial impact on specific financial functions like accounting, tax and audits. This means that the modern CFO must revamp the way they currently work to adjust to this disruptive change. In this case study, Geoffrey will go through the...

    Read more >
     
  • Jens Madrian

    Jens Madrian

    CFO & CCO, Reactive Technologies (UK)
     
    Making Finance the Driving Force of Change

    Finance isn’t an island on its own. It is instead a function of what the business and its institutions need from it. As these are largely driven by socio-economic and other mega trends like digitalisation, globalisation and big data, so Finance too, will have to adapt.  What’s next for Finance then, and for the CFO? In the past, Finance hasn’t...

    Read more >
     
  • Adam Campbell

    Adam Campbell

    CFO, Flight Centre Travel Group
     
    The Incredible Journey of Finance Transformation at the Flight Centre Group

    The Flight Centre Travel Group is on the path to incredible changes in the finance function and beyond. The key to this whole journey has been the creation of a "north star" vision for the organisation, aimed at binding the finance and operational communities together on the journey. Hear how they have established "Project Zero", implementing structural and process changes...

    Read more >
     
  • Anna Harper

    Anna Harper

    CFO, Society One
     
    Fishbowl Session: Transforming Finance Into a Strategic Business Partner in Your Organisation

    To drive success and add value, business unit leaders need true strategic partners to help guide key decisions and deliver results. This panel will share each of their journeys as they have transformed their Finance functions into true business partners in order for their organisations to thrive in an increasingly challenging environment. They’ll explore the tools, processes and capabilities needed...

    Read more >
     
  • Jamie Lyon

    Jamie Lyon

    Head of Corporate Sector, ACCA (UK)
     
    The Collaborative Financial Officer (CFO)

    Building on the ACCA’s ground-breaking Professional Accountants – The Future Series, this session explores the imperative of finance collaboration in driving business value. What are the factors necessitating a need for greater collaboration in today’s business environment, where are the collaboration opportunities, what are the implications of how digital may change the collaboration agenda, and how can CFOs look to...

    Read more >
     
  • Sigal Pilli_Finance Innovation & Tech Fest

    Sigal Pilli

    CFO, Envato
     
    Real Lessons from Creating the Finance Function in a Fast Paced, Ever Changing Environment

    Tech companies are fast moving and keep changing. All of them begin as start-ups but only some are lucky (or smart) enough to grow in a sustainable way. To add value, finance departments of such companies need to evolve. Sigal will review the last 5 years at Envato and share learnings from creating their finance function. Transforming a finance department...

    Read more >
     
  • Michael McQueen

    Michael McQueen

    Trend Forecaster and Business Strategist
     
    What if Your Finance Role Was Becoming Obsolete and You Didn’t Even Know? Proven Strategies to Stay Ahead of the Game!

    We are living in an age of unprecedented disruption. Once-lucrative revenue models are under siege. Market structures and distribution channels that have been stable for decades are crumbling before our eyes. The demise of brands such as Kodak, Borders and Blockbuster leaves us with little doubt – shift is happening and no business is immune. In this fast-paced and compelling...

    Read more >
     
  • David Roberts

    David Roberts

    VP, Enterprise Transformation, Under Armour (USA)
     
    Financial Excellence Powered by Community

    In 2007, our team established centralised service functions for Accounting and Finance, providing a way to scale an operation that was experiencing dramatic growth (50% topline), and massive expansion - from three countries to 44 - but at the same time creating functional silos. As our business processes have become more sophisticated, the organisation is now in a position to...

    Read more >
     
  • Sue Lindsay

    Sue Lindsay

    Senior Treasury Executive & Financial Controller, Goodman Fielder (NZ)
     
    Fishbowl Session: Transforming Finance Into a Strategic Business Partner in Your Organisation

    To drive success and add value, business unit leaders need true strategic partners to help guide key decisions and deliver results. This panel will share each of their journeys as they have transformed their Finance functions into true business partners in order for their organisations to thrive in an increasingly challenging environment. They’ll explore the tools, processes and capabilities needed...

    Read more >
     
  • Brendan Sheehan

    Brendan Sheehan

    Founder of CFO 2020
     
    Secrets of High Performing Finance Teams: The CFOs Perspective

    We are at a critical point in the evolution of the role of CFO and the next few years will see a dramatic shift in how they will be expected to perform. Not only will CFOs hold the purse strings, run a tight ship, have all the answers and never get anything wrong; as technology becomes more pervasive, creativity, emotional...

    Read more >
     
  • Colm Giblin

    Colm Giblin

    Project Director - Finance Systems, Group Finance, ANZ Banking Group
     
    Beyond a “Faster Horse”: How to be Brave on Your Path to Finance Transformation

    When asked if he checked with customers before starting to mass produce cars, Henry Ford famously stated, “If I had asked people what they wanted, they would have said faster horses.” For many organisations, the need for change is often masked by “workarounds”, creating a false sense of comfort for management and disguising the underlying challenges. Resistance to change remains a major hurdle, and gaining acceptance for truly...

    Read more >
     
  • Michael Bencsik

    Michael Bencsik

    Deputy CFO, BOQ
     
    Secrets of High Performing Finance Teams: The CFOs Perspective

    We are at a critical point in the evolution of the role of CFO and the next few years will see a dramatic shift in how they will be expected to perform. Not only will CFOs hold the purse strings, run a tight ship, have all the answers and never get anything wrong; as technology becomes more pervasive, creativity, emotional...

    Read more >
     
  • Michael Jothy

    Michael Jothy

    Deputy CFO, CPB Contractors, (Former Head of Finance – Commercial, Woolworths Limited)
     
    Change is Possible – Revolutionising Reporting in Under 12 Months!

    Woolworths’ Commercial Finance Team of 40 used to start work at 6am on a Monday morning and spend 2-3 thankless days a week trying to report on the prior weeks’ sales and GP. They tirelessly repeated this every week like Groundhog Day. With staff turnover exceeding 60% annually and the Woolworths Finance reputation suffering as a result – it was...

    Read more >
     
  • Mark Davey

    Mark Davey

    Senior Director - Children’s Health, Queensland Hospital and Health Service
     
    Financial Sustainability or Bust – Why Finance Needs to Become a Strategic Partner

    According to the World Economic Forum, “unless health system financing is redesigned, public deficits of tens of billions of dollars could amass in some developed countries by 2025”.* Although health systems have been a great success in the past century, fostering longer, healthier lives and thereby contributing to prosperity and economic growth, these gains have come at a price: We...

    Read more >
     

View All
 
  • John Dwyer

    "I know the mechanics of “what” you guys do, but there is a spark in your “how” that is just impossible to bolt down. It is in the essence of every one of your people - you do it just so well!"

    John Dwyer - Principal Consultant, Vesta Asia Pacific
     
  • Marcus Gibson

    "Coming from an academic background I really like the research approach - the roundtable discussions. The program is built by the community, for the community, and it's the issues we are facing today."

    Dr Marcus Gibson - Manager of Performance Metrics, AGL Energy
     
  • Julie Prater

    "THOUGHT PROVOKING, INSPIRATIONAL, PROFESSIONAL AND EXTREMELY WELL CONNECTED WITH FUTURE BUSINESS AND TECHNOLOGICAL ADVANCES."

    Julie Prater - Senior Director - Corporate Services, ATO
     
 
 

Sponsors

 
  •  
    Deloitte
     
    Foundation Partner
     
  •  
    Workday
     
    Foundation Partner
     
  •  
    SAP
     
    Transformation Partner
     
  •  
    Financial Force
     
    Transformation Partner
     
  •  
    Blackline
     
    Transformation Partner
     
  •  
    Wolters Kluwer
     
    Transformation Partner
     
  •  
    DXC Oxygen
     
    Transformation Partner
     
  •  
    Oracle
     
    Interaction Partner
     
  •  
    Board
     
    Interaction Partner
     
  •  
    K2
     
    Exhibitor
     
  •  
    CALUMO
     
    Exhibitor
     
  •  
    CFO2020
     
    Supported by
     

How Technology is Enabling the CFO to Build and Transform Companies

As CFO for Yahoo, Ken is responsible for Yahoo's global finance functions including financial planning and analysis, controllership, tax, treasury, and investor relations. Few people have had as much influence over Silicon Valley’s technology companies as Ken Goldman. He has worked in finance functions in the Valley for more than 30 years. You will hear about the accomplishments and disappointments in creating shareholder value for Yahoo, and how, over the past 5 years, the CFO function has been transformed by technology and innovation.

  • The evolution of the CFO role at Yahoo
  • The Yahoo transformation and creating shareholder value
  • 40 years of lessons that can be applied to today
  • Advice and counsel from a Silicon Valley CFO veteran
Prior to his CFO role at Yahoo, Ken has taken 3 companies public as CFO and helped another 10 companies go public from a board seat. He is a Lead Director at GoPro, an Independent Director of Zuora and serves as a Trustee Emeritus of Cornell University.

Designing the Transformed CFO

In the era of digital transformation, no function is safe from change. For finance, digital transformation means not just comprehending the transformation of the organisation, but also grappling with how technology is transforming finance itself.

  • Tech innovation in systems supporting financial planning and forecasting, dynamic budgeting, multiple-scenario planning and self-service management reporting continue to disrupt the skill set and operating models of finance teams
  • It’s not good enough to just understand the business itself and how it makes money. The focus is shifting towards having the right tools in place to assess key levers in an agile manner in business cases and investment development to drive timely business outcomes
  • Finance teams these days require much more commercial acumen and strategic thinking to be able to understand historical behaviours of customers, their drivers, and to assign value to customers through predictive analytics
  • The success of CFO becomes increasingly correlated to a fundamental appreciation of technology, understanding of tech strategy and how it impacts financial and business outcomes
  • Having an active interest in organisation’s IT infrastructure is a must, including how data is captured, linked and extracted
  • Accounting or finance degrees remain vital, BUT commercial acumen, lateral thinking, advisory mindset and problem solving are rising in importance as well as the ability to collaborate in more effective way across the business
Marina is also passionate about educating the next generation of finance leaders and believes that this is not being completely taught at University. Hence, she and two collaborators are developing a tech unit for the Business School of University of Sydney’s Master of Management on how technology is transforming the business overall and finance function itself – how ideas are prototyped, as well as concepts around data and analytics, cybersecurity, blockchain and machine learning.

The Future and Work – Take the Step into 2035 and Beyond

Gone are the days of annual plans and performance appraisals. Continuous conversations, how to help your employees grow and flourish and how they deliver value to the organisation is ever critical in this Agile Age. How you react will be vital in terms of future proofing your business, your team and yourself. You cannot afford to miss this transformation. Bulletproof was the first company in Australia to launch a public cloud service in 2006 and launch a managed Amazon Web Services (AWS) in 2012. In this fascinating presentation Paula will share her experience and views on Humanisation (& Work), the marriage of Man & Machine, how we will work (days/hours) in the future, where we will work, and how we will be remunerated.

  • The Future of Work – how to be “engaged and excited” about the future for yourself and your team (and how to future proof your team and organisation)
  • Artificial Intelligence – leveraging different thinking to deliver extra value to your organisation (e.g. chip employees to enable workforce flexibility)
  • The Humanisation of work – getting the best return for your investment in the future

The Impact of Artificial Intelligence on the Finance Function and the Business – A Framework to Benefit from the Potential of AI

The rise of artificial intelligence capability brings new benefits as well as challenges for CFOs and for businesses. AI has a substantial impact on specific financial functions like accounting, tax and audits. This means that the modern CFO must revamp the way they currently work to adjust to this disruptive change. In this case study, Geoffrey will go through the implementation of an artificial intelligence tool at Systra, a world leader in the design of transport infrastructures with more than 5000 employees in Europe, USA, South America, Asia and Australia. You will see the impact of AI on risk management and the organisation chart, and identify a framework to get your organisation prepared for the disruptive wave of artificial intelligence.

  • A practical study of how AI has been implemented on the Finance function
  • How to become aware of the transformational impact of Artificial Intelligence
  • Hold a framework you can apply to your business

Making Finance the Driving Force of Change

Finance isn’t an island on its own. It is instead a function of what the business and its institutions need from it. As these are largely driven by socio-economic and other mega trends like digitalisation, globalisation and big data, so Finance too, will have to adapt.  What’s next for Finance then, and for the CFO? In the past, Finance hasn’t been the driving force behind change. Today we must accept that change is necessary and requires a new mindset. We must explore new finance models where robotics, automation and outsourced services are core features and understand what this new future means for the role of CFO.

  • Examine the traditional role of Finance and of the CFO
  • Explore the changing societal requirements on businesses
  • Understand what these all mean for Finance and for the CFO
  • Provide an example of how to deeply embed change in organisational behaviour
  • Put forward a new role for CFOs
Three key take-aways include
  1. The new requirements on businesses and how these impact the role of Finance and CFOs
  2. How to meaningfully embed transformational change in your company’s culture
  3. What part new finance models play in transforming the Finance function and shaping the new role of CFO

The Incredible Journey of Finance Transformation at the Flight Centre Group

The Flight Centre Travel Group is on the path to incredible changes in the finance function and beyond. The key to this whole journey has been the creation of a "north star" vision for the organisation, aimed at binding the finance and operational communities together on the journey. Hear how they have established "Project Zero", implementing structural and process changes across the 800-person finance function in advance of significant system transformation. Transforming the risk and audit function from a traditional compliance based function to a smaller, centralised risk-based team that uses data and trend analysis to identify potential areas of investigation. Learn too of the technology journey - moving from being a company that has multiple sources of data globally and systems that don't integrate or talk to each other. This includes retiring multiple systems and replacing them with single risk, mid-office and back-office systems globally. It also includes the establishment of a data strategy - what makes sense for our businesses, including global, regional and business-specific needs. And finally learn how to use transformational successes within the finance function to drive similar transformation throughout the rest of the organisation.

  • The global transformation journey of the Flight Centre Group
  • Driving engagement through the communication of a clear strategy
  • Obtaining significant engagement through the power of story-telling
  • Managing systems integration for reducing risks and enhancing data analysis
  • The finance function as a key change enabler for the overall organisation

Fishbowl Session: Transforming Finance Into a Strategic Business Partner in Your Organisation

To drive success and add value, business unit leaders need true strategic partners to help guide key decisions and deliver results. This panel will share each of their journeys as they have transformed their Finance functions into true business partners in order for their organisations to thrive in an increasingly challenging environment. They’ll explore the tools, processes and capabilities needed and explain how to shift company-wide focus to profitability and business analytics.

The Collaborative Financial Officer (CFO)

Building on the ACCA’s ground-breaking Professional Accountants – The Future Series, this session explores the imperative of finance collaboration in driving business value. What are the factors necessitating a need for greater collaboration in today’s business environment, where are the collaboration opportunities, what are the implications of how digital may change the collaboration agenda, and how can CFOs look to build a collaboration culture in the finance team. As the leader of a global technical and policy team focused on key interrelated areas shaping the future of the enterprise: corporate governance, enterprise risk, financial and business transformation, digital technology, and talent management Jamie Lyon is in the perfect position to articulate the challenges are finance collaboration

Real Lessons from Creating the Finance Function in a Fast Paced, Ever Changing Environment

Tech companies are fast moving and keep changing. All of them begin as start-ups but only some are lucky (or smart) enough to grow in a sustainable way. To add value, finance departments of such companies need to evolve. Sigal will review the last 5 years at Envato and share learnings from creating their finance function. Transforming a finance department from one that serves a US$12M net turnover company to one serving close to a US$100M business.

  • How to set priorities when building a finance function
  • How to grow finance in line with company needs
  • The scope and breadth of a finance function at different stages
  • Tips on building a highly efficient, happy and stable finance team

What if Your Finance Role Was Becoming Obsolete and You Didn’t Even Know? Proven Strategies to Stay Ahead of the Game!

We are living in an age of unprecedented disruption. Once-lucrative revenue models are under siege. Market structures and distribution channels that have been stable for decades are crumbling before our eyes. The demise of brands such as Kodak, Borders and Blockbuster leaves us with little doubt – shift is happening and no business is immune. In this fast-paced and compelling keynote presentation, you will discover:

  • Why most businesses and traditional functions like Finance don’t realise they are becoming obsolete TIL' IT’S ALMOST TOO LATE
  • The 4 MAJOR SHIFTS that are causing brands and industries to become irrelevant
  • PROVEN and PRACTICAL strategies for staying ahead of the curve and competition
You will leave this presentation with a game plan for successfully navigating change and emerge stronger and more relevant than ever. Michael is the special guest keynote for Finance Innovation and Technology Festival. He is an award-winning strategist and author of 5 bestselling books.

Financial Excellence Powered by Community

In 2007, our team established centralised service functions for Accounting and Finance, providing a way to scale an operation that was experiencing dramatic growth (50% topline), and massive expansion - from three countries to 44 - but at the same time creating functional silos. As our business processes have become more sophisticated, the organisation is now in a position to leverage functional efficiencies gained from embedding Accounting and Finance advocates into the business front line. Hear how a new technology has enabled a new, fully integrated platform, aiding in the breakdown of functional barriers and eradication of silos. Follow us on our journey as we show how the fully integrated, real-time platform has; enabled tighter alignment with the market and business units, exposed opportunities for greater operational efficiency and offered the most advanced and transparent insights into all aspects of the corporate performance.

Fishbowl Session: Transforming Finance Into a Strategic Business Partner in Your Organisation

To drive success and add value, business unit leaders need true strategic partners to help guide key decisions and deliver results. This panel will share each of their journeys as they have transformed their Finance functions into true business partners in order for their organisations to thrive in an increasingly challenging environment. They’ll explore the tools, processes and capabilities needed and explain how to shift company-wide focus to profitability and business analytics.

Secrets of High Performing Finance Teams: The CFOs Perspective

We are at a critical point in the evolution of the role of CFO and the next few years will see a dramatic shift in how they will be expected to perform. Not only will CFOs hold the purse strings, run a tight ship, have all the answers and never get anything wrong; as technology becomes more pervasive, creativity, emotional intelligence, and the ability to communicate effectively, will become the most important competencies for the CFO to develop. These are skills not traditionally associated with accountants - and some CFOs will struggle to make the transition on their own. This is your opportunity to learn from other high performers. Hear some of the key lessons in leadership from a winner of the Sydney to Hobart Yacht race. Learn the importance of taking a holistic view of your staff. Find out how to tap into the resilience and persistence it takes to run 100km. And understand why the mission and values of your organisation are not just words on a corporate brochure. Learn the techniques that other high performing teams have used to achieve success in their fields and make an immediate impact in your own organisations.

  • Hear how the accounting profession is preparing to face the challenges of the future
  • Hear from unique CFOs who have achieved success not only in their own organisations but outside of the corporate world
  • What are the secrets of high performance that you can bring back to your finance teams to make an immediate impact in your organisation?
  • Transforming to succeed - what does the finance leader of today look like tomorrow?
Facilitated by: Brendan Sheehan - Founder of CFO 2020, Global Council Member of the Association of Chartered Certified Accountants & Managing Director of White Squires Panellists include: Michael Bencsik - Deputy CFO, BOQ Joe Kelly – CEO, Sydney Roosters (ex CFO of the Rabbitohs and Manly Sea Eagles)   CFO 2020 is a unique network that helps Chief Financial Officers and aspiring CFOs to face the future head on, maximising their potential for personal and career success through networking, thought leadership and collaboration.

Beyond a “Faster Horse”: How to be Brave on Your Path to Finance Transformation

When asked if he checked with customers before starting to mass produce cars, Henry Ford famously stated, If I had asked people what they wanted, they would have said faster horses.” For many organisations, the need for change is often masked by “workarounds”, creating a false sense of comfort for management and disguising the underlying challenges. Resistance to change remains a major hurdle, and gaining acceptance for truly transformative advances is problematic for many. In this session, ANZ Finance will share its strategies for successful large scale transformation, some key steps on its journey to finance automation, and tips for opening your imagination to what’s possible beyond a “faster horse”.

  • Building the case for change – overcoming the largest hurdle
  • Being brave on your path and pushing for real progress
  • Finance automation at ANZ – from two countries to 28, and benefits achieved from SaaS
  • Human Centered Design - extreme users and use of visual cues
  • Three key learnings for any change initiative

Secrets of High Performing Finance Teams: The CFOs Perspective

We are at a critical point in the evolution of the role of CFO and the next few years will see a dramatic shift in how they will be expected to perform. Not only will CFOs hold the purse strings, run a tight ship, have all the answers and never get anything wrong; as technology becomes more pervasive, creativity, emotional intelligence, and the ability to communicate effectively, will become the most important competencies for the CFO to develop. These are skills not traditionally associated with accountants - and some CFOs will struggle to make the transition on their own. This is your opportunity to learn from other high performers. Hear some of the key lessons in leadership from a winner of the Sydney to Hobart Yacht race. Learn the importance of taking a holistic view of your staff. Find out how to tap into the resilience and persistence it takes to run 100km. And understand why the mission and values of your organisation are not just words on a corporate brochure. Learn the techniques that other high performing teams have used to achieve success in their fields and make an immediate impact in your own organisations.

  • Hear how the accounting profession is preparing to face the challenges of the future
  • Hear from unique CFOs who have achieved success not only in their own organisations but outside of the corporate world
  • What are the secrets of high performance that you can bring back to your finance teams to make an immediate impact in your organisation?
  • Transforming to succeed - what does the finance leader of today look like tomorrow?
Facilitated by: Brendan Sheehan - Founder of CFO 2020, Global Council Member of the Association of Chartered Certified Accountants & Managing Director of White Squires Panellists include: Michael Bencsik - Deputy CFO, BOQ Joe Kelly – CEO, Sydney Roosters (ex CFO of the Rabbitohs and Manly Sea Eagles)   CFO 2020 is a unique network that helps Chief Financial Officers and aspiring CFOs to face the future head on, maximising their potential for personal and career success through networking, thought leadership and collaboration.

Change is Possible – Revolutionising Reporting in Under 12 Months!

Woolworths’ Commercial Finance Team of 40 used to start work at 6am on a Monday morning and spend 2-3 thankless days a week trying to report on the prior weeks’ sales and GP. They tirelessly repeated this every week like Groundhog Day. With staff turnover exceeding 60% annually and the Woolworths Finance reputation suffering as a result – it was clear something had to change. And it did!

  • A day in the life of the Woolworths commercial finance team
  • The factors, circumstances, and history contributing to the current state
  • The importance of deep collaboration between finance and IT in the pursuit of “data automation and enlightenment”
  • How to cultivate buy-in from senior leadership - even if this takes a little convincing
  • Reflecting on the outcomes, both expected and unexpected, of the change and what this can mean for the broader finance function
  • From performance to wellbeing - the benefits are far reaching

Financial Sustainability or Bust – Why Finance Needs to Become a Strategic Partner

According to the World Economic Forum, “unless health system financing is redesigned, public deficits of tens of billions of dollars could amass in some developed countries by 2025”.* Although health systems have been a great success in the past century, fostering longer, healthier lives and thereby contributing to prosperity and economic growth, these gains have come at a price: We have seen healthcare costs consistently outgrow the economy for decades. Although this trend has long been recognised as a significant challenge, the recent fiscal crisis and demographic shifts have suddenly brought it closer. The Children’s Health Queensland Hospital and Health Service has addressed this looming challenge by developing a plan to ensure the long-term financial sustainability of children’s health services in Queensland. In this session, Mark Davey will explore how finance can be a strategic partner in wider business transformation. Discover how Children’s Health Queensland Hospital and Health Service are: 

  • Collaborating to deliver services 'closer to home' by developing new models of care
  • Establishing a 24-hour Operations Centre to provide a coordinated system of managing flow, resources and activity demands
  • Developing an evidence base to plan services, monitor impacts and drive system-wide performance improvement across the sector by pooling health information with information from other sectors
  • Utilising a long-term forecasting model to develop and test strategies to increase sustainability
  *(World Economic Forum, The Financial Sustainability of Health Systems – A Case for Change, 2012)