CFO, driver of digital transformation
As CFO you influence business decisions by providing information at the right time Technologies such as robotics, data analytics and machine learning make this possible and quickly bring the finance function of the future closer.
The challenge for every “financial” is to embrace the new, while maintaining the positive aspects of the old. Therefore, says Paul Smits – former Chief Financial Officer (CFO) of organisations including Havenbedrijf Rotterdam and KPN: “Keep innovating and challenging yourself without any compromises, but don’t forget what the basis is of your profession. Embrace the transformation in the financial role, but also make sure you remain the professional who ensures there’s enough money and reliable reporting.” Our interview with him concerns transformation, digitisation, sustainability, innovation, and people management.
Applying directive data means that financial reporting and predicting change increasingly merge into one another. This requires a different set-up and management for the financial department – flexible, agile, and eager to learn. The financial department will also be more focused on connecting the strategic organizational goals. Instead of traditional hierarchies, future organizations will function as a network of powerful, autonomous and strategically aligned teams that jointly implement a particular goal of an organization.
The key to success is often digitisation of financially related processes. Integrating the IT strategy with your business strategy and finance objectives is inextricably linked to this. As technology develops, you will increasingly find yourselve working side by side with robots, artificial intelligence, and smart automation. PwC can advise you on the selection of products and services from Oracle, SAP, Salesforce, Google, Adobe, and assist you with the implementation, and optimization. And PwC also trains your employees so that they have the right skills. This way you can digitally transform your organisation, from strategy up to implementation.
“CFOs who can supply the right information from hour to hour, from minute to minute, are the ones who can really influence the operating result.”
“The value of data is created by seeing the cohesion between things that don’t initially seem connected.”