The CFO role has undergone a significant transformation in the recent years, which has been accelerated by advancements in technology & increasing significance of data-driven decision making. The Digitisation of the Finance Function has elevated their position and only the most successful CFOs can embrace this change and empower their selves to help drive the organisation forward and helping all departments across all aspects of the business to make better and far more insightful decisions. This new breed of CFO, called the “Digital CFO”, is revolutionizing financial management. If you have not begun the process you better get a move on, if you have commenced the process you better get it right.
Harvard University’s Clayton Christen is correct in saying that “75% of the current S&P 500 will not be featured in the list by 2027”. The remaining 25% will be digital leaders. Now that’s a real sense of urgency. The rise of the digital CFO is only a part of a more significant digital transformation trend that’s taking storm through all areas of business. In the past, financial management was largely manual and paper-based, but today it is increasingly automated and digital. This has resulted in more accurate and efficient financial reporting, better risk management, and more informed decision-making, which in return results in better overall profits.
However, investing in technology alone is not the silver bullet that most people think it is. To maximise the ROI on this digitisation process, CFOs also need to work on the right talent mix and people with unique skill sets that can leverage the technology. Furthermore, the CFO has to re-look on what is the appropriate operating model to comprehensively transform the way businesses runs. The technology, the data, and the people have become enterprises’ crucial assets that will critically pave the next steps of the digital business journey.
The Digital CFO Summit by Trueventus focuses on the transformation journey of the finance department. This includes all the data, analytical, automation and people‘s process that create more vibrant and productive business operation. Join us and discuss with leading CFOs towards effectively digitising your finance department. So whether you are a major champion of Digital CFO role or you shy away from IT-related matters, you need to attend this event to know where you’re the department stands in comparison to others and how you can empower your organisation for challenges ahead.