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On-Demand Recording: How Technology is Enabling the CFO to Build and Transform Companies

finance techFew people have had as much influence over Silicon Valley’s technology companies as Ken Goldman, who has worked in finance functions in the Valley for more than 30 years. As former CFO for Yahoo! Inc., Ken was responsible for the company’s global finance functions including financial planning and analysis, controllership, tax, treasury, and investor relations.

In this recording of his presentation at the Finance Innovation & Tech Fest 2017 you will hear about the accomplishments and disappointments in the journey towards creating shareholder value for Yahoo, and how, over 5 years, the CFO function was transformed by technology and innovation.Continue reading

Filed under: Culture, Digital Finance, Leadership, Strategy

Transformation Doesn’t Happen From the Sidelines

Finance TransformationIf the thought of transforming an organisation seems hard, how about transforming an entire industry?

That is the task being undertaken by energy industry veteran Jens Madrian. His London-based company, Reactive Technologies, is working to decarbonise and decentralise the energy industry globally, by utilising technology from the telecommunications sector to create new value.

“I spent a lot of time looking backwards, dealing mostly with legacy challenges,” Madrian says. “And now my key focus is looking forward and trying to shape the energy agenda to cost-effectively enable the transition to a greener and truly sustainable future through digitalisation.”

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Filed under: Leadership, Strategy, Uncategorized

A Beginner’s Guide to Digital Finance Technologies

charts and analyticsThe question we hear most often from senior finance executives around Digital Finance is: “Where do I start?”

The simple answer – start from where you are. Finance organisations have lots of experience managing change. But digital represents opportunities we haven’t seen before. Opportunities to explore massive amounts of information, to do it quickly, and to distribute knowledge wherever it needs to go. These shifts are not only driving operational improvements, they’re also changing expectations for adding insight.

The key is to define what the business expects from the finance function, and then work backwards to figure out the quickest, most efficient and accurate way to use digital to deliver on those expectations. Still stumped? Below we make sense of some of the technologies available, and explore how they could be used to transform your finance function.

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Filed under: Digital Finance, Innovation, Uncategorized

Managing Change Means Mastering Communication

Finance innovation and tech fest Change can be difficult, but in an era where finance departments are being tasked with implementing new technologies and processes, it can also be essential.

And while the drivers for change are often rooted in technology and process transformation, the successful delivery of a complex change program can come down to a very human level.

Faced with the need to both streamline costs and improve processes, in 2016 the diversified food company Goodman Fielder embarked on an extensive change program which would lead to moving many accounting tasks offshore while centralising and automating others.

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Filed under: Case Studies, Culture, Strategy

Bringing Agility to Finance at Envato

agile finance_Finance Innovation & Tech FestOne of the hallmarks of digital businesses is the rapid pace at which they operate. But while speed is essential to meeting market requirements, it can pose problems for their finance function, which finds itself tasked with delivering a wide range of responsibilities in a rapid-fire timeframe.

At the Melbourne-based digital marketplace operator Envato, the finance function’s requirement to keep pace with the company’s speed of operation has meant adopting principles from the leading edge of finance innovation, as well as some from the company’s own development team.

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Filed under: Innovation

Designing the Transformed CFO

Transforming the CFOThere was once a time when the rapid march of technology was a concern for the IT function alone. But 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 as a whole, but also grappling with how technology is transforming finance itself.

Amidst this period of change, the role of the CFO endures. But what exactly will that role look like, once the finance function and the organisation it supports have been fundamentally transformed?

Marina Trusa has spent the latter part of her working life grappling with the impact of technology on finance, from inside technology-driven organisations such as Oracle and the Commonwealth Bank of Australia, and now as the general manager of finance at the international currency transfer provider, OFX (formerly, OzForex).

She says working at an a high-growth, digitally-oriented company gives her the opportunity to design a true technology-driven finance function. And it has led her to rethink some of the fundamentals of the function offers.

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Filed under: Leadership

The State of Finance Innovation in 2017

Finance InnovationStanding still is going backwards

The digital era is presenting new challenges to Australian organisations through increased market competition and heightened customer expectations. Responding to these challenges requires more than just cosmetic changes on the outside – it can also mean fundamentally reshaping the internal functions upon which the organisation relies.

Finance is no exception. The mounting pressure for organisations to be more responsive to market conditions is forcing a rethink of systems and processes within the finance function, and driving the adoption of new tools and technologies that accelerate outcomes and enable new contributions.

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Filed under: Industry Research

Should You Detonate or Renovate Your Legacy Financial Technology?

financial system detonate or renovateIt’s the age-old question for Finance leaders when it comes to legacy systems – should we detonate or renovate? Each has its own merit, and neither is without obstacles your Finance team to overcome.

Often when organisations install a new system, they map around the existing process, rather than fundamentally standing back and asking “How do we simplify the process?” Other times they find themselves consolidating, ending up operating large numbers of different and complex systems, with licensing and training costs which are prohibitive. There is no one right answer, with each having significant pros and cons to consider before making the big decision.

During our roundtable discussion groups held across Australia, we heard from over 60 Finance professionals. They debated this point extensively and participants concluded that there is no one right answer, with each having significant pros and cons.

The one agreement reached was it is essential to consider all avenues before making the big decision.

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Filed under: Integration & Consolidation

What Does the Finance Leader of Today Look Like Tomorrow?

Role of finance leaderThe role of the CFO or Finance leader is becoming intrinsically linked to technology innovation. For the more strategically focused finance departments, leaders will bring real added value and establish themselves as leader of change.

This will be possible through the understanding of data, cloud and mobility opportunities. Successful CFOs must embrace digital technologies, improve skills level and implement innovative business processes to drive efficiency into all business functions. They also must look far beyond what may have been considered their traditional role and change their way of thinking to become a key business leader.

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Filed under: Leadership
 
 

Thanks to our awesome 2017 sponsors

 
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    Deloitte
     
    Foundation Partner
     
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    Workday
     
    Foundation Partner
     
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    SAP
     
    Transformation Partner
     
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    Financial Force
     
    Transformation Partner
     
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    Blackline
     
    Transformation Partner
     
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    Wolters Kluwer
     
    Transformation Partner
     
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    DXC Oxygen
     
    Transformation Partner
     
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    CFO2020
     
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