The Wall Street Journal’s 2016 CFO Network conference is currently being held. The CFOs attending the conference have divided into 5 different CFO groups which reflect the current strategic priorities for companies of various sizes and industries.
Here are the top five topics and some specific areas within each area being discussed:
1. The Fintech Revolution
Business Intelligence - “CFOs should use fintech to tap proprietary data and provide critical company analysis and insights.”
Cloud Services – Use cloud services and platforms for streamlined workflow processes and growing more efficiently
B2B Payments and Pricing – Replace outdated, obsoleted payment process with more efficient, cost-effective methods and solutions
2. “Investing for the future”
Innovation Culture - “Speak to Main Street, not Just Wall Street”
Company Strategy - Your company’s strategy needs to be relevant to everyone, including shareholders, investors, customer, and employees.
Financial Strategy - Need to establish and defend financial goals and capital allocation
Compensation - Compensation goals and incentives needs to aligned to with long-term financial goals
3. “Business reputation”
4. “Being CFO”
“Embrace Constructive Debate” – The annual budget process should be the result of helpful internal discussion and debate with a variety of perspectives
“Make Budgeting a Dynamic Process” – Ongoing, continues tools like dynamic modeling help to capture the ever-changing situation facing companies.
“Communicate Market Realities” – Develop and articulate Key Performance Indicators (KPIs) and metrics to help connect the budget process to operations and different departments.
“CFO as an Operating Partner” – CFOs need to help operational teams in meeting their actual goals and not just measuring them
5. “The Cyber War”
“Engage the Entire Organization” – Everyone needs to be involved with cybersecurity
Routine Assessments
Talent and Tech
Practice the Response Plan