DJEENI’s Post

That’s a wrap! Delft FinTech summit 2024 hosted a full house of leaders and academics to foster innovation and collaboration. Technologies like AI extend beyond chatbots by enhancing inclusivity, operational excellence, and resilience in Finance. Key Takeaways 💸 8% of Dutch households struggle with debt. Research is underway to detect early distress predictors for a resilient and inclusive society. Sjoerd van Bekkum 💳 Graph ML fights money laundering by analyzing transaction patterns Kubilay Atasu 🌐 Tokenization and decentralization could power Europe via blockchain @Joachim Schwerin 🛠️Predictive incident management insights reduces risks at banks like ING Eileen Kapel If you are in the financial industry and want to bridge cutting-edge technology and impact, do DM to discuss collaboration. Shoutout to startups PocketCFO, PerfectXL, and DJEENI for their excellent pitches on Gaining financial insights, Spreadsheet model de-risking, and Automation respectively. Special thanks to other speakers, participants and hosts : Arie van Deursen Domenico Bianculli Leonard Franken Liakos Papapoulos, CFA Antonis Papapantoleon Jérémie Decouchant Stefan Buijsman Asterios Katsifodimos Mondai | House of AI #DelftFinTechSummit #FinTech #Innovation #AI #Networking  #EuropeanCommission

5 things people get wrong about finance transformation: 1. "Now is not the right time." It may seem like there are always more competing priorities, but putting off progress means falling further behind. Strategic changes should be made when the way you do things now is stopping you from providing value. 2. "We don't see immediate ROI." Return on investment (ROI) from a shift in finance doesn't just mean hard cost savings. Things like better reporting, data access, controls, and stakeholder happiness give an ROI that is hard to measure but very important for long-term success. 3. "It's too expensive." If done right, a finance makeover can actually save money in the long run by getting rid of manual workarounds, filling in gaps in technology, and stopping problems that will cost more in the future. If you look at the TCO over a few years, you'll see that most projects are priced fairly. 4. "We can make do with our current tools." Using solutions and old tools may seem like a cheap option, but they usually make things less efficient. Finance can't do as much with old methods, and they put people at risk of not following the rules. They also miss opportunities that their more flexible peers take advantage of. 5. "Transformation sounds big and scary." Even though change can be a hard pill to swallow, most modern makeovers are well-planned and aim for quick wins along the way. Expertise and support from stakeholders can break down what seems too big to handle. Better financial skills are worth a lot more than keeping things the same. So think of it: Is the current state of your finance function really serving your business needs, or is it time for a change? P.S. I'm Wouter Born, a CFOTech entrepreneur, investor, and advisor. I'm also the co-founder of CXO Software (exit 2018) and former head of M&A at insightsoftware. I share daily CFOTech insights, business lessons, and personal learnings to help you get better at life and business.