CFO.University’s Post

What is the latest happening at CFO.University? I am getting an opportunity to share the 'AI Playbook for CFOs' in an upcoming Course 'AI for Finance Leaders', partnering with Prashanth H Southekal, PhD, MBA. Don't miss out...here is the link to register interest -> https://lnkd.in/guVEjq7r #aitraining #ai #digitaltransformation

🚀 "What's Up at the U - June 2024" This month we capture the hottest trends in finance, AI, and leadership. 📊 **Top Reads & Tools:** 📄* Top Articles:* "The KPI Playbook Strategies" by Yiannis Papadopoulos "Cash is Still the CFO's Best Friend" highlight crucial insights into business analytics and cash management. 🧰 *Top Tools:* CFO.University's Capital Investment Analysis Tool and the Key Performance Indicator Assessment are essential for making informed financial decisions. 🧠 **Upcoming Course** Don't miss out on our "AI for Finance Leaders" course by experts Tariq Munir and Prashanth H Southekal, PhD, MBA in August - Limit 20. (link to details in the comment box) 🔗 LinkedIn Live - 2024 Data, Analytics and AI Predictions and Prescriptions for CFOs - Tobias Zwingmann - **Human-Centric AI Integration:** Tobias emphasizes that AI is not just about automation. Effective AI systems should augment human capabilities, finding a balance between AI and human input to enhance workflows. - **Future-Proofing with Open Source:** Flexibility is key. Building your AI stack with open-source tools ensures adaptability in an ever-evolving industry. Find 🔗🔗links to these resources in the first comment box below. 📚 I am the Founder of and Chief Learning Officer at CFO.University 🏫 CFO.University is a professional development center for CFOs and aspiring CFOs. Our Mission:   Develop world changing finance leaders 🔔   To see more content ring the bell on my profile 🎬 Visit our CFO Talk video series with global experts transforming the role of the CFO, https://lnkd.in/gg6bdZx 📚 Learn about the Four Pillars of CFO Success here. https://lnkd.in/gJNV4q7 #Finance #AI #Leadership #CFOUniversity #Podcast #BusinessAnalytics #ProfessionalGrowth #OpenSource #AIIntegration

In the ever-evolving landscape of business, finance leaders are not just guardians of the balance sheet; they are the architects of strategic insight, visionaries shaping the very fabric of their organizations. Beyond the numbers, finance leaders must possess an intimate understanding of the economic intricacies that drive success. 🌐 Embracing a 360-Degree Perspective 🌐 It's not merely about how the company is performing on paper. True financial leaders delve deep into the heartbeat of their business – understanding customer engagement, deciphering the competitive landscape, and identifying the levers that propel efficiency. The Chief Financial Officer, with their unique vantage point, holds the key to unlocking unparalleled value within an organization. 🚀 AI: Turbocharging Strategic Insights 🚀 In this era of rapid transformation, artificial intelligence emerges as the catalyst propelling finance leaders into a realm of unprecedented possibilities. AI isn't just a tool; it's the bridge that connects financial acumen with strategic foresight. The integration of AI empowers CFOs to swiftly assimilate new information, paving the way for richer and more insightful business outlooks. 🔍 Navigating Uncertainty with AI 🌐 More than ever, finance leaders need to be adept at foreseeing challenges and seizing opportunities. AI equips CFOs with the tools to not only understand but also preempt risks. It becomes the compass guiding them through the intricate maze of decision-making, preserving optionality as they allocate capital and stay ahead of the curve. 💡 The Future is Now 💡 finance leaders, let's embrace the transformative power of AI. It's not just about embracing technology; it's about harnessing a tool that amplifies our ability to navigate complexity, make informed decisions, and sculpt a future where finance is not just a function but a force driving organizational success. #AI #financetransformation #innovation #accountspayable #travelandexpense

Did you know that 79% of CFOs are prioritizing digital transformation for 2024? If this statistic has piqued your interest, you're not alone. Despite the buzz surrounding digital transformation over the past decade, many initiatives have either underdelivered or drained significant time and resources, leading to a prevailing sense of disillusionment. Digging deeper into a recent Gartner report, it's evident that CFOs aren't just focusing on "digital transformation" in the abstract. They're interested in actionable areas like better finance metrics, leading change management efforts, and optimising costs. The shift underscores how the definition of a CFO's role is evolving rapidly in the age of AI and GenAI. Finance leaders aren't just gatekeepers of company dollars— they're becoming integral players in shaping their companies' digital futures. However, achieving this transformation isn't a simple task. Modernising the finance department structure and integrating new technology can be a huge uphill battle. There's a balancing act between advancing digitisation and maintaining daily operations. Lessons we can draw from this? Digital transformation is not a one-size-fits-all process. It requires a blend of strategic leadership, savvy tech understanding, and an adaptable mindset. But most importantly, it calls for a collaborator who can bridge the gap between AI and business. As someone who's worked extensively in the AI sector, I've seen firsthand how applying AI Digital Transformations can revolutionise business operations. My question to you: Are we ready to embrace this change? #DigitalTransformation #AI #CFO #BusinessGrowth #GPT

A large majority of CFOs believe #AI and generative AI will create value for #finance departments. According to McKinsey & Company, the trends suggest that many CFOs are taking a longer-term view these days, balancing short-term management with long-term value creation. https://buff.ly/3X1L0pe via CFO #strategy #leadership #pivot #CFO

When it Comes to Analytics and AI, Start Small, Think Big, Move Fast 〰 Prashanth H Southekal, PhD, MBA, ICD.D This week's theme at CFO.University is AI and Automation so it's natural we would share this short clip Prashanth, a renowned expert in analytics and AI. In this clip he highlights the importance of starting small but thinking big when implementing data, analytics and AI initiatives within the larger context of enterprise performance management. He shares fascinating insights on taking an iterative approach to these disciplines and technologies. Here are three key takeaways: 1️⃣ Start small, think big, move fast: By starting with small projects, you can demonstrate progress and win the trust and confidence of stakeholders. Every company is a data company, and every person is a data person. Develop your data skills to stay relevant! 2️⃣ Focus on your career, not just a job: In an ever-changing industry, it's crucial to focus on your career growth rather than just a specific job or contract. Prashanth emphasizes the importance of focusing on your domain and industry, understanding the value chain, and building strong networks. 3️⃣ Network for success: Networking plays a vital role in career development. Engaging in forums like CFO TALKS provides excellent opportunities to connect with industry professionals, gain diverse perspectives, and stay updated on global trends. Remember, your network is your network! 🔗 To dive deeper into this topic and explore how you can elevate your financial expertise, watch the full event on CFO.University, The Impact of Data, Analytics and AI on Enterprise Performance Management, https://lnkd.in/g8gn3pD8 . 🎯 Hit your professional development bullseye, follow CFO.University 🏫 CFO.University is a professional development center for CFOs and aspiring CFOs 🌎 🌍 🌏 Our Mission:   Develop world changing finance leaders 👁  Gain insight into your professional development with the CFO Readiness Assessment 💥Become a CFO.University Member and Grow. https://lnkd.in/geieMHfG #DataAnalytics #AI #MeasurementGoals #BusinessImpact #CFOUniversity #CFOLeadership

In a recent survey, CFOs are increasingly focused on long-term planning and have high expectations for technology, including generative AI, to navigate a complex business environment. The survey reveals that CFOs, who play critical roles such as crisis managers and thought partners to CEOs, now prioritize strategic planning and long-term resource allocation more than ever before. According to Ankur Agrawal , Christian Grube and Jorge Herranz Bayo, CFA finance leaders are looking beyond short-term concerns, citing emerging risks like supply chain disruptions and weak demand as significant threats to growth. Interestingly, CFOs are now more likely to expect steady growth rates and investment levels in their industries compared to previous years. Despite the push for digitization, many finance functions are still early in their technology journeys. While nearly all CFOs report investments in digitization and automation, only a small fraction have fully digitized their processes. Organizational challenges such as demanding workloads, lack of relevant capabilities, and insufficient resources are major roadblocks. Expectations for AI and generative AI are high among CFOs, with many believing these technologies will enhance productivity, generate valuable insights, and shift focus from manual tasks to value-adding activities. However, only a minority have begun using generative AI tools, with many still in the pilot phase. In an increasingly volatile world, CFOs are crucial in balancing immediate demands with long-term value creation. Embracing generative AI presents a significant opportunity to enhance the effectiveness and efficiency of finance functions, helping companies navigate the complexities of the modern business landscape. #FinanceLeadership #CFOInsights #GenerativeAI #StrategicPlanning #Digitization #TechnologyInFinance https://lnkd.in/ejhWs3v9

The CFO Report: It's not too late to get into Artificial Intelligence Now is the time for CFOs to lean on Artificial Intelligence ("AI") to plan, budget, and forecast with greater accuracy and speed. With the help of AI, finance teams can spend less time on spreadsheets and manual effort and more time on strategy and value drivers. Critical thinking, problem-solving, and communication are becoming more crucial to the success of finance teams, and technology can help navigate growing volumes of data. So, how can AI help: a.     Handle routine & manual tasks with ease and without errors, b.     Detect issues like budget padding and variances and human error at granular levels, c.     Cut through the data mine and deadlines with real-time & prescriptive insights; d.     Allow professionals to spend more time on the high-value work they are meant to do—using their creativity to raise the organization's financial IQ, strengthening business relationships, and making informed decisions that drive growth. How can the CFO implement AI? Not sure how to impact the business? Are you concerned about falling behind? If any of these questions resonate with you, on March 21, 2024, our panel of AI experts discuss these issues. https://lnkd.in/gx8K8Jgi If you are a senior financial executive and want to empower your career, join the CFO Leadership Council by contacting me today for more details, or use this link: https://lnkd.in/gwbjVY5N. Bryan Hewitt Allison Ruch, CPA, MBA 🌸 Leanne Spier Billy Ampatzis, CPA, CA Sandro D'Ercole, CPA, CMA Daniel Smedley, MBA,CPA,CMA, Anya Rae, CPA, CA Marcus Hinkley Nathan Meppelink #leadership #success #communications #networking #CFOLC #CFO #empower #netsuite #mnp #randstad #gowling #finance#ethical #cpe #cfoconnect #strategicleaders #leadershipbyexample #financeexecutive #cpa #ca #toolkit #prem #cloud#finance #opportunity #FP&A #Cyber #secuity #ethics #networking #A!

🔍 Three Pillars for CFOs Navigating Gen AI As the business landscape evolves, so does the role of Chief Financial Officers (CFOs). The emergence of generative AI (Gen AI) presents both opportunities and challenges for finance leaders. Here are three simple but critical factors that CFOs should consider: 1. Strategic Prioritization: CFOs must select a small number of use cases that can have the most meaningful impact within their organizations. Rather than implementing Gen AI everywhere, focus on specific areas where it can drive value. Prioritize projects that align with the company's strategic goals and financial performance. 2. Resource Allocation: Gen AI won't create value on its own; it requires proper resource allocation. CFOs should identify the largest opportunities for value creation and ensure that these initiatives receive the necessary funding and support. Remember, capital is finite, and projects compete with one another. Prioritize the most value-accretive projects, regardless of whether they are AI-related. 3. Learning Curve: CFOs should aim to be Gen AI enablers rather than gatekeepers. Ascending the Gen AI learning curve is essential. Understand the technology, its potential impact, and the risks involved. Collaborate with other business functions to explore Gen AI's capabilities and drive innovation. In summary, CFOs play a pivotal role in harnessing the power of Gen AI. By strategically prioritizing use cases, allocating resources effectively, and embracing the learning curve, finance leaders can position their organizations for success in the AI-driven future. #GenAI #FinanceLeadership #DigitalTransformation #CFO #Finance #ArtificialIntelligence --- Note: The information provided here is for educational purposes only and does not constitute professional advice. Always consult with expert professionals before making strategic decisions. 📊

Rapid technology advancements mean CFOs need to grow their skills for their changing role. As AI changes how finance works, what abilities are most important now? In my experience, strategic vision tops the list. AI offers more detailed and timely forecasting, in turn enabling more time for strategy. And analytics literacy is critical to be able to effectively manage AI's capabilities so you can use it to guide strategy and decision making. Additionally, great communication and storytelling creates real influence. Being able to synthesize complex ideas in ways others can relate to is a key component of modern leadership. Finally, with new ideas constantly changing our industry, change management abilities are crucial to help teams seamlessly adapt to and adopt new solutions. Plus, as tech gets more complicated, knowing the rules helps sidestep compliance headaches down the road. Finance leaders these days need to master both those arenas—it's about having the flexibility to soak up what's new without veering out of bounds. But finding all that in one person is challenging. This fuels interest in fractional CFOs who offer specialized expertise from diverse industry and business exposure. On-demand finance leadership's outside view gives helpful perspective and focuses on high-impact changes that advance strategic goals. The modern CFO has to go beyond reporting into guiding strategic business growth. Partnerships with fractional experts who see toward the future are paving the way for organizations to capitalize on AI’s potential while closing skill gaps. Let's have a conversation about the finance skills your business needs to lead in a tech-powered era. #AI #cfos #digitaltransformation #futureoffinance #financeandaccounting