Miguel Orti, Chief Financial Officer at ING Austria
As CFOs take on more responsibilities, they need to reimagine their department to maintain being a successful finance team. It won’t just involve technology, there are many elements to this particular puzzle. Miguel Orti, CFO at ING Austria, spoke to us about how to build high-performance teams and how this will help your business in the future.
Define Your Culture
“The first step is to define your culture,” Miguel declares, “it could be anything. For us, the important elements are trust, communication and going the extra mile.” Copycatting others isn’t the solution, it has to relate specifically to your team. There is a universal rule though: “All successful teams I’ve seen have something in common: they share a common purpose and all work towards the same goal”.
Collaboration Is Crucial
Collaboration is crucial for this. “High-performance and collaboration have to go together. You can’t achieve success in fast-changing environments without it. If you’re building a house, you need people who have different skills, architects, electricians, plumbers (etc.) all working to achieve the same goal.”
Once you have decided on your objectives and culture, you then need to implement some technology choices. Miguel thinks, “We need to move away from manual processes and use robotics, automation and AI. Most companies are digitised but only to customers. I think you need an end-to-end digital process with access to good quality, accurate data.”
This will influence the skills your team will need: “You’ll need to be able to handle and analyse data as well as communicate messages to the rest of the business. We didn’t have to do this in the finance function before”.
What’s important to keep in mind is that this won’t be one change. It’ll be constant. If you’re not adaptable, you’ll struggle to be a successful finance team.
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