Financial Excellence with Game Changers, presented by SAP

Financial Excellence with Game Changers, presented by SAP

Game-changing technologies are transformational, exciting, and can move you in amazing new directions. They get you thinking about new ways to scale, compete and grow profitably – driving efficiency for existing finance operations, but also driving insight and transformational change for the entire business. They shake up your status quo. Take your Coffee Break with Game-Changers for our special series on achieving FINANCIAL EXCELLENCE for your company. Learn how you can operate profitably and adapt continuously, to become the savvy innovator and visionary who takes your company across the finish line as you look ahead to the next breakthrough strategy. Financial Excellence with Game Changers, Presented by SAP, on The Business Channel.

Episodes

August 9, 2022 55 min
Ah, taxes! A bit of “humor” on a definitely serious topic for every enterprise: * Benjamin Franklin: “In this world, nothing is certain except death and taxes.” * Bonnie Raitt: “Solar power is the last energy resource that isn't owned yet – nobody taxes the sun yet.” * Arthur C. Clarke: “The best measure of a man's honesty isn't his income tax return. It's the zero adjust on his bathroom scale.” Ok, time to get ser...
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The Buzz 1: “As specialized tools and technology have emerged, the role of CFO has evolved. CFOs of companies large and small need to embrace flexibility, develop global strategies, and shift their focus to look forward rather than back.” (www.teampay.co/insights/cfo-quotes/) The Buzz 2: “When you are a successful company, you have to fight really hard to make sure you avoid complacency, arrogance, bureaucracy.” (Marianne Lake, C...
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The Buzz 1: In his 2007 book “The Black Swan: The Impact of the Highly Improbable”, author and former options trader Nassim Nicholas Taleb focuses on the extreme impact of rare and unpredictable outlier events—and the human tendency to find simplistic explanations for these events, retrospectively. He calls this the Black Swan theory. The Buzz 2: “If you ever do have to heed a forecast, keep in mind that its accuracy degrades rapi...
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The Buzz 1: “Tasked with guiding the growth of companies, building digital organizations, and transforming the finance function, CFOs must first identify their objectives and then decide whether they will lead with people, process, or performance.” (HBR Executive Brief: The CFO Agenda: Transforming the Finance Function) The Buzz 2: “CFOs say that their time on transformations would be best spent on role-modeling new mindsets and ...
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The Buzz 1: In his 2007 book “The Black Swan: The Impact of the Highly Improbable”, author and former options trader Nassim Nicholas Taleb focuses on the extreme impact of rare and unpredictable outlier events—and the human tendency to find simplistic explanations for these events, retrospectively. He calls this the Black Swan theory. The Buzz 2: “If you ever do have to heed a forecast, keep in mind that its accuracy degrades rapi...
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The Buzz 1: CFOs often perceive cybersecurity to be the responsibility of IT, but as more finance processes run remotely, CFOs need to develop security measures specifically for the finance function and not rely solely on the organization’s blanket security protocols to safeguard financial data. (www.gartner.com) The Buzz 2: Finance leaders in the midst of leading or co-leading a broader transformation initiative (42% of CFOs, pe...
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The Buzz 1: We’ve all heard these 'old saws' and know they're true: “A goal without a plan is just a wish.” “By failing to prepare, you are preparing to fail.” “Plan your work and work your plan.” The Buzz 2: “We don’t hand aircraft pilots 50 pages of Excel reports after they’ve landed the plane, telling them they went to the wrong airport or they ran out of fuel. They have real-time insight into the external environme...
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The Buzz 1: We’ve all heard these 'old saws' and know they're true: “A goal without a plan is just a wish.” “By failing to prepare, you are preparing to fail.” “Plan your work and work your plan.” The Buzz 2: “We don’t hand aircraft pilots 50 pages of Excel reports after they’ve landed the plane, telling them they went to the wrong airport or they ran out of fuel. They have real-time insight into the external environme...
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The Buzz: Michael E. Porter at Harvard Business School introduced the concept of a value chain in his book, Competitive Advantage: Creating and Sustaining Superior Performance [2008]. Competitive advantage cannot be understood by looking at a firm as a whole. It stems from the many discrete activities a firm performs in designing, producing, marketing, delivering, and supporting its product.” He adds that it's important to maxi...
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The Buzz: “Data is now more valuable than oil” a popular business sentiment. * In 2006, British mathematician and Tesco marketing mastermind Clive Humby shouted from the rooftops, “Data is the new oil.” * Now “Data Isn't The New Oil — Time Is”. (Michael Kershner, founder of ILC) * Oil has reigned for centuries as one of society’s most valuable resources…But in today’s 'data economy,' it can be argued that data, due t...
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The Buzz: Michael E. Porter at Harvard Business School introduced the concept of a value chain in his book, Competitive Advantage: Creating and Sustaining Superior Performance [2008]. Competitive advantage cannot be understood by looking at a firm as a whole. It stems from the many discrete activities a firm performs in designing, producing, marketing, delivering, and supporting its product.” He adds that it's important to maxi...
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The Buzz: The CFO role has expanded beyond financial duties to encompass strategic responsibilities across the company. After closing the books 12 months ago on the extraordinary year that was 2020, which threw unprecedented challenges across mostly unprepared industries and businesses worldwide, we began 2021 with high hopes for the start of a recovery, with the office of Finance having a central role. Reality check: This optimi...
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The Buzz 1: “Change management is a critical skill in today’s c-suite… Change management is a challenge for every organization.” (Dave Sutton, toprightpartners.com) The Buzz 2: “Slowness to change usually means fear of the new.” (Philip Crosby, 1926–2001, aka “The Fun Uncle of the Quality Revolution”, author: Quality Without Tears and Quality is Free) The Buzz 3: “Change before you have to.” (Jack Welch, former GE CEO, named “Man...
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The Buzz 1: The early development of accounting was closely related to developments in writing, counting, and money.…Accounting records dating back more than 7,000 years have been found in Mesopotamia, and documents from ancient Mesopotamia show lists of expenditures, and goods received and traded…all emerged in the context of controlling goods, stocks and transactions in the temple economy of Mesopotamia.” (en.wikipedia.org) The ...
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September 14, 2021 53 min
The Buzz: “FP&A [financial planning and analysis] used to hold all the cards; they had all the data at their fingertips. Nowadays, valuable data resides across the business. It’s a battle to find out who has the best data, much less what this data is. Otherwise, a vacuum will develop that smart executives will fill up with their own data. The CFO has to be on top of information flow at all times.” (Mark Partin, CFO of BlackLine...
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The Buzz 1: “The subscription economy is not new. In fact, the membership-based business model has been around since the 17th century…Recently, the membership-based business model has been gaining a foothold…Experts believe that the membership-based business model is the revenue model of the future.” (boldbusiness.com) The Buzz 2: “Building long-term relationships with customers is the route to value in the Subscription Economy®....
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The Buzz 1: “AI will optimize or transform ‘nearly every activity in finance.’” (Craig Wilton, Gartner, quoted at www.cfodive.com/news/artificial-intelligence-gartner-finance-trends-2020/573233/) The Buzz 2: “Tech is in everything… 2021’s CFOs need to be more tech-savvy than ever. Indeed, with so much big data, A.I., and robotics technology available for CFOs to utilize, learning and incorporating tech into the traditional finance...
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The Buzz: “I’m not paid or evaluated on the accuracy of my crystal-ball predictions. I’m paid to enumerate every possible outcome and do something about every possible outcome well in advance, when it’s still possible to do something, because once it’s happened it’s too late.” (Marty Chavez, Former CFO, Goldman Sachs) Is your organization struggling with finance transformation and future steering? How differently should you approa...
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The Buzz 1: “Indirect attacks against weak links in the supply chain now account for 40 percent of security breaches.” (Accenture Security / Third State of Cyber Resilience Report, www.ironnet.com) The Buzz 2: Cybersecurity in the supply chain cannot be viewed as an IT problem only. Cyber supply chain risks touch sourcing, vendor management, supply chain continuity and quality, transportation security and many other functions acr...
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The Buzz: “A majority of executives and investment professionals agreeing that environmental, social, and governance (ESG) programs enhance shareholder value…Finance leaders can help spur companies to develop sustainability goals by articulating the financial benefits of sustainability projects and establishing criteria for funding the company’s ESG investments that account for their full range of benefits.” www.cfo.com Sustainabi...
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