Discussion on Rittal UK experience using low coding applications such as HCL Domino and Microsoft Power Apps and low cost hardware such as Rasperry Pi to develop workflows, databases and data visualisation tools.

• What can you do as a finance leader to drive the digitisation agenda forward?
• How can you find the balance between buying and building technology?
• Where will technology choices affect your business most and where should you prioritise?

Digitising at scale is no longer an optional addition. It is now fundamental to your company’s strategy. But with so many options to choose from and routes to take, it can be hard to make sense of everything through all the noise. Different tech choices will all have distinct impact on organisations’ ability to succeed so it’s vital to understand what your key issues are in your organisation and how you can improve them before you take the plunge and take the chequebook out.

The role of the finance department has already gone through massive changes over the last decade. Now playing a role in almost all areas of the business, CFOs will have to adapt to external forces and pressures which will play huge roles in changing the definition and structure of finance teams.

• The development of the Finance function from a merely accounting department to a key business partner to support and influence the Company strategic decisions
• The journey starts by understanding the top management expectation on the Finance department and the level of involvement/freedom that used to have (example a specific customer strategy, a new product launch, on overall P&L top line)
• It continues via a series of actions (with practical examples) put in place that goes from management tools to an integration of different approach/metrics each department works with, to a creation of a simple, intuitive, and non-time-consuming way of sharing the financial results
• Success in the Finance transformation, that due to the limited size in terms of employees (no more than 40 in those specific examples), depends even more on the capacity of the Finance function to build strong and trustworthy relationship, often going above and beyond the scope of the usual operativity you would expect from a traditional finance function (for example store check, logistic orders planning and so on, inside out of competitors within a customer/market)
• Aim of the new approach is to train the business to act in a methodical way, where each department shares information and receives adequate support from Finance to allow the company to make the best educated decision with the information available, displayed in the most intuitive but effective way

COMING SOON!

ESG is top of mind for many CFOs worldwide. There will be more regulatory eyes than ever on businesses as they look to improve company performance in this area. It’s not just regulations that are driving this change, however. Potential employees will be looking at ESG performance so better outcomes can help drive recruitment as well as improve your brand.

– How greater scrutiny on ESG will affect finance leaders
– Implementing long-term ESG strategies to improve employer branding
– Building robust systems for collecting and acting on ESG data

The pandemic has brought to light the fragility of enterprise cost structures, lack of accurate and timely information, and a poor cash flow management. In a changing and uncertain economic environment, the challenge for finance leaders is to achieve a strategic cost transformation with a range of digital accelerators that can go beyond short-term cost savings. This actionable and pragmatic approach will enable organisations to protect margins, improve cash liquidity, and boost bottom-line performance.

• How to identify genuinely useful data from varied sources
• Improving data-visualisation across teams and businesses
• How to get the most out of real-time data for decision-making

Tell me and I’ll forget; show me and I may remember; involve me and I’ll understand.” This Chinese proverb goes to the essence of what is required for successful change management. Those involved in experiencing the change need to believe and understand it. They need to feel the experience is of benefit to them. Therefore the importance of understanding the human impact of any change is crucial. It requires strong leadership; it requires impactful communication; it requires very careful planning and it requires supreme patience

It’s time to get optimistic about growth potential. While there is still plenty of uncertainty looming, CFOs can now start to look more positively about the future. However, the right targets need to be set – and communicated to the board – and the decisions need to be made about revenue streams to ensure that your business thrives.

Business executives around the world say their understanding of the universe of strategic risk is changing. Managing risk effectively has always been a touchstone of the most successful companies. In today’s risky business environment, plans are hardly the sole reliable tool provided the complexity of unpredictable factors. Volatility of the business environment and associated risks as well as mitigation / limitation set-up actions are at the forefront of business investment expectations and a fundamental.