By Andy Burrows
This is my second article looking at the relationship of Finance with innovation. In the other article I shared a few thoughts on how Finance can support strategic business innovation, which benefits customers and provides competitive advantage.
This time I want to turn my attention to innovation within Finance, affecting what we do on a day to day basis.
One question we’d probably better get sorted in our minds is, what is innovation?
I remember attending a presentation a while back. In it they expressed great concern that a survey showed very few CFOs had priorities in innovation within Finance. (Well, of course, they did. The event was sponsored by one of the big software vendors! Ok, I’m being cynical, I know!)
And I sat there thinking, what do they mean by innovation?
And why is it such a high priority thing to do?
We’re all so busy. And some software sales person comes along and says we really need to consider their...
By Andy Burrows
Let’s talk about how and why the role of the CFO has changed over the last 30 years, and why that puts Finance in a critical position within the business.
You know, ever since I qualified as an accountant in 1995, I’ve noticed magazine articles, courses, seminars, books, all talking about the changing role of the CFO (or Finance Director as we used to call it).
And I’ve always been a bit cynical. I didn’t really know what it was all about until I sat and thought about it recently.
You see, I think there’s a misunderstanding in the media, even in the financial press, about what is driving any changes in role, if there are any.
The media portrays the CFO’s role changing because of Finance technology. In the past it was all about EPM (Enterprise Performance Management), BI (Business Insight) and ERP. Nowadays it’s all about RPA (Robotic Process Automation), AI (Artificial Intelligence) and Blockchain, apparently – you...
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