What should be a CFO’s first language?
Chinese? As the most spoken language in the world?
English? As the global language of business?
Nope. It’s technology.
Digital transformation is a key executive priority – from the front to the back end of business.
Building on from our blog a few weeks ago on why today’s CFOs should be broader than just ‘finance’, today (and for that matter, tomorrow’s) CFO should speak ‘tech’.
Not literally. We’re not talking code here. But we are talking about seeing business through the lens of technology – right through from the customer experience to the back end of business from bots to AI and machine learning…you need to know it all.
Tech ‘is’ business
We’re in a world where ‘technology’ and ‘business’ are no longer distinct. And this is the case not only ‘in’ the business, but across business models; whole sectors are changing to embrace digitisation in order to stay relevant and meet their customer needs.
Take publishing – a perfect example of a business model that has had to transform completely to remain viable.
Big data and how to utilise it is today’s ‘commercial decision support’
Data is a hot topic, whatever profession you are in. Call it analytics, data, BI, or commercial, it all comes back to the same thing – businesses need people to use data to shape and influence strategic decisions that directly impact top and bottom line performance. Leaders that can show, or apply, leading edge thinking in this area are in-demand.
In finance, you’ve got a prime opportunity to demonstrate thought leadership in this area, or better still, be the catalyst for change. Seek out opportunities to improve data collection, analytics and insights and proactively work with cross-functional leaders to understand how technology can enable business performance, preferably ahead of your competition.
It is key to winning the war on talent and building organisational capability
Millennial talent, and ultimately their successors, want flexibility. And with the rise of technology, has come remote working, which has turned the tables on the concept of the ‘office’. Your role in enabling a technology environment that promotes mobility and improved productivity for all functions is a benchmark criteria of a future CFO.
What does this mean? Simply, that we’re used to using quick, connected devices. When we come to work, we want to use the same. If you want to be a CFO, enabling the highest level of productivity through creation of a familiar, generational technology environment pushes technology firmly on to the agenda. If you want to drive transformation, make it tech transformation.
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