Press Releases

The Reformed CFO: Adapting To The New Era Of Finance

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16 March 2023

  • The DigitalCFO Asia Indonesia Symposium was conducted on 16 March 2023, discussing insights on how CFOs & Finance Leaders can and should enhance financial efficiency through intelligent automation.
  • ICAEW, Kyriba, Wolters Kluwer, Prophix and Decision Critical were among the organisations that partnered with DigitalCFO Asia for this finance thought leadership event, which featured speakers from reputable organizations like Lion Parcel, XL Axiata, AJE Group and many more.

DigitalCFO Asia hosted the DigitalCFO Asia Indonesia Symposium 2023 which aimed to promote a better understanding on how Chief Financial Officers (CFOs) and Finance Leaders can enhance financial efficiency through intelligent automation. Intelligent Automation, which combines artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA), is becoming increasingly important in finance due to its ability to streamline processes, improve accuracy, and reduce costs. 

Unfortunately, Indonesian CFOs aren’t adapting as quickly as needed despite increased expenditures in technology. The present focus in finance is still on solving legacy problems rather than the predictive model required to stay ahead of market and company structure. Whether at work, at home, or across the globe, CFOs and financial leaders must put an emphasis on intelligent automation if they want to become more efficient, accurate, and agile in an increasingly competitive market.

The symposium kickstarted with opening remarks from the Symposium Chairperson, Riza NurFadhli, Head of Finance, Lion Parcel. Following that, Keynote Speaker, Adam Rachmanto, Head of Finance Digitalization, PT XL Axiata Tbk, took over to give his presentation which touched on putting strategy first and developing the strategic vision organizations need to achieve the outcomes that will generate the most revenue. An engaging yet insightful presentation, his session provided insights to the importance of streamlining business operations that drive growth, improve cash, efficiency and bottom-line profit.

Aria Nagasastra, Lecturer, Binus Business School, spoke on the crucial need for businesses to evaluate the role of ESG in their corporate strategy and regard it as the seed that can assist crystallize change. He highlighted that companies must adopt ESG concepts rather than simply greenwashing their present business strategy with symbolic gestures as this could affect their valuation. 

Ashish Agarwal, Chief Finanical Officer, Jiva, brought attention to new accounting requirements that have had a substantial impact on finance tasks, necessitating more intricate computations, valuations, and disclosures. Because of this, there is a need for customized solutions to improve reporting’s efficiency and accuracy, such as bespoke systems or RPA technologies. 

Anibal Torres Alvarez, Chief Finanical Officer, AJE Group, presented on the necessity for businesses to switch from annual planning to continuous planning so that the finance team can swiftly reforecast. Quicker forecasting abilities are now crucial as businesses continue to face an economic environment that is full of uncertainty.

The Indonesia Symposium 2023 Witnessed 2 Panel Discussions

The first panel discussion had speakers; Rajat Dutt, Country Representative & Finance Director, Louis Dreyfus Company; Sandy Permadi, Chief Financial Officer, JD.ID; Dias Widya Ramadhan, Country Finance Manager, IDP Education Ltd and moderator Ervina Waty, Chief Financial Officer, Ateria Group. The panel brought on discussions about the CFOs role in supporting the finance team’s talent so that they can produce competitive business value and participate in the talent revolution.

The second panel discussion had speakers; Auro Sen, Head Of Finance, Aquarev; Jayaprawirya Diah, Head of Corporate Strategy and Planning, Bank Central Asia (BCA); Rahadian Ratmawijaya, Finance Director, PT. a Lenzing Group and moderator Krishna Worotikan, Chief Financial Officer and Diversity/Inclusion Lead, Microsoft Indonesia. The panel brought on discussions about managing enterprise risk, then importance of data accessibility throughout the enterprise, the use of analytics and why it is imperative that C-suites executives have a more collaborative relationship in today’s business environment.

The Indonesia Symposium 2023 also held a fireside chat with speakers, Aria Nagasastra, Lecturer, Binus Business School and Joseph Hutagaol, Corporate Finance & Sustainability, PT Teladan Resources. The fireside chat touched on the true priorities of sustainability in finance today. 

Other speakers included; Chee Kien Loh, Regional Sales Manager, CCH Tagetik Wolters Kluwer, Ferdy Nandes, Indonesia Country Manager, Aspire, Handoko (Han) Soeryadjaya, Head Of Finance, Ecolab, May Ng, Chief Financial Officer, Yummy Corp and Novy Wulansari, Finance Director, PT Anugrah Argon Medic. 

Thinking Big, Doing Small & Acting Fast

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22 February 2023

  • Held on 21 February 2023, this virtual masterclass had discussions on digital transformation efforts, the future of finance and leaving behind the limitations of traditional methods to operate more efficiently.
  • The virtual roundtable saw notable attendees from Frasers Property Limited, AEON, Resorts World Sentosa and more.

DigitalCFO Asia and Workday partnered to host this virtual masterclass that was dedicated to sharing about how finance transformation can help CFOs navigate today’s business uncertainty. Today’s CFOs are operating in a very different world than they were just three years ago – one in which they are expected to steer their organizations through soaring inflation, volatile market conditions, supply chain challenges, and global disruption.

The attendees for the virtual masterclass included finance professionals (CFOs, Finance Directors, Head of Finance) from various industries such as telecommunication, financial services, hospitality, and healthcare. The event saw notable attendees from Frasers Property Limited, AEON, Resorts World Sentosa and many more.

The virtual masterclass was led by the cheerful and energetic Joanne Flinn, CEO & Founder of Unicorning who began the session with interactive activities for the attendees that shared many challenges they were currently facing in implementing change to the finance team. Joanne highlighted the importance of “Why change, and Why Now?”

The virtual masterclass also had Lee Thong Tan, CFO Practice Lead for Asia at Workday who provided insightful tips on various tactics for navigating uncertainty – defensive or offensive and also established 5 key challenges that finance teams often face today. During the masterclass, he also touched on how companies can work around these challenges and even overcome them. 

Chetan Jotwani, Senior Value Manager at Workday, also touched on how companies can set themselves up for success by building a case for transformation. He emphasized that digital transformation is a team sport, requiring collaboration across business units and functions. In building a case for transformation, it is important to look beyond functional improvements and analyze impact to business KPIs and metrics. 

These were only some of the key things highlighted and talked about during the virtual masterclass. You can tune in to the on-demand Masterclass to find out more about what was shared here and how many attendees left the masterclass with a clearer view of tackling the challenges brought about by today’s economic uncertainties. DigitalCFO Asia will also be hosting the DigitalCFO Asia Indonesia Symposium 2023, on the 16th of March that will tackle more economic uncertainty challenges.

Challenges For CFO In 2023: Navigating Economic Uncertainty

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16 February 2023

  • Held on 16 February 2023, this executive roundtable had discussions on CFOs top priorities in the current economic climate, the expectations for the finance teams and the key areas to overcome these challenges. 
  • The executive roundtable saw notable attendees from Scoular, Secretlab, EM Services, Neste Asia Pacific and more. 

DigitalCFO Asia and LucaNet partnered to host this roundtable that was dedicated to sharing about the business environment of today and how beneficial automating and digitalising is in combating the top challenges CFOs are facing. Finance teams that are using antiquated manual procedures are simply not operating efficiently and changes must be made in order to survive the current climate.

The attendees for the roundtable included finance professionals (CFOs, Finance Directors, Head of Finance) from various industries such as engineering, supply chain, manufacturing, healthcare and more. The event saw notable attendees from Scoular, Secretlab, EM Services, Neste Asia Pacific etc.

The event kickstarted with a panel discussion that focused heavily on the key things that are necessary to overcome business challenges and uncertainties. First and foremost, data and insights need to be worked on. Sarath Kolachana, Manager, Accounting Advisory Services pointed out that there needs to be incremental improvements to data visibility, data management, budgeting and scenario-related forecasting. 

Shirley Hu, Finance & Accounting Leader further emphasized that when it comes to the business, everything needs to come quick, easy and immediate and the only way to do this is to automate and digitalise financial processes. Having conventional financial processes will only drill down the company’s ability in providing a single source of truth with the numbers and data that they have. Stakeholders of today are expecting real-time data analysis and support. Without the necessary resources and steps towards automation, there is simply no way companies can see an improvement in their scalability.

The roundtable also raised discussions on talent management and how employees want more insightful and challenging roles to provide value to the company. The problem with this is that organizations need to know how to efficiently redesign roles and provide necessary training so that they are able to feel fulfilled and be a value-add to the company. On that note, digital upskilling of the talent pool is one of the keys to upscaling a business.

 Key takeaways: 

  1. Financial Processes Must be Flexible – In the current market environment, businesses need to be able to easily access their capital to meet urgent needs that come from opportunities or crises. 

“Businesses need to be flexible especially in today’s market landscape,” says Denis Caes, Finance Director, APAC, Scoular.

  1. Fully Automated Processes Without Human Element Is Disastrous – It is important that finance leaders keep in mind the important role employees play in the finance team even after the processes have been automated. 

“People are necessary to drive transformation but once transformation happens, their jobs may be at risk which causes a dilemma. As we drive transformation in the company, we need to have a talent strategy in place as well so that we do not lose loyal employees,” shares Nicole Tan, Chief Financial Officer, Dornier MedTech America.

This is only the first of many events that are yet to come in 2023 and it was clear from today’s roundtable that everyone had a delightful discussion and definitely left the roundtable with a deeper understanding of the current economic landscape. DigitalCFO Asia will also be hosting the DigitalCFO Asia Indonesia Symposium 2023, on the 16th of March that will tackle more economic uncertainty challenges.

DigitalCFO Asia Executive Roundtable Series FP&A: The New Engine Of Finance Transformation

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DigitalCFO Asia | 24 August 2022

DigitalCFO Asia and Jedox partnered to host a roundtable on the evolving function of Finance and its vital role in financial transformation.

  • Held on 24 August 2022, this executive roundtable had discussions on knowing how to create an optimal FP&A unit, how FP&A influences the Finance department, and what role FP&A plays in the Finance unit of a business.
  • The event witnessed finance professionals from companies such as Aspial Corporation, COMO Group, Genesis Medtech, IQVIA, Socomec Group and many more.

DigitalCFO Asia and Jedox partnered to host a roundtable on the evolving function of Finance in an organisation and how the FP&A unit plays a vital role in this transformation. The roundtable was dedicated to understanding the role of FP&A in the Finance unit of an organization, factors that influence the FP&A and Finance team to achieve value imperatives as well as how to build an ideal FP&A unit.

The event witnessed finance professionals from companies such as Aspial Corporation, COMO Group, Genesis Medtech, IQVIA, Socomec Group and many more. The event was held at Straits Nyonya Restaurant with a unique setting, appreciating the traditional interior whilst having interactive discussions relating to FP&A. 

The roundtable had discussions focused heavily on how CFOs and Finance Leaders are now investing in their FP&A unit and how they are developing a deeper understanding of how this specific finance unit is driving overall business decisions. 

“It has never been more important for organisations to understand the critical function financial planning and analysis (FP&A) plays in their long-term sustainability,” says Phillip Tan, CFO of IMC Group.

DigitalCFO Asia Executive Roundtable Series – XP&A Roadmap: Understanding Breakthroughs, Opportunities And Determining The End Goal

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DigitalCFO Newsroom | 18 August 2022

DigitalCFO Asia and Jedox partnered to host the first roundtable event in KL Malaysia.

  • Held on 18 August 2022, this executive roundtable had discussions on how finance departments can align their objectives across all branches, and why the move to xP&A is inevitable.
  • The executive roundtable saw notable attendees from Adidas Malaysia, Fave Asia Sdn Bhd, MST Golf Sdn Bhd, UEM Edgenta Berhad and many more.

DigitalCFO Asia and Jedox partnered to host the first roundtable event in KL Malaysia after 2 years. The roundtable was dedicated to unlocking the opportunities in XP&A through value-focused business partnering and to translate financial leaders’ expertise into insightful action steps towards the forward-looking mindset that’s set to revolutionize the entire financial planning and analysis industry..

The attendees included finance professionals (CFOs, Finance Directors, Finance Controllers) from various industries such as Retail, Logistics, Financial Services, Building and Construction, E-sports Gaming and more. The event witnessed noble attendees from companies such as Adidas Malaysia, Fave Asia Sdn Bhd, MST Golf Sdn Bhd, UEM Edgenta Berhad and many more.

The roundtable had discussions focused heavily on how finance departments can streamline their goals throughout all departments, and how the shift to xP&A is here to stay. The discussion also mentioned that the worry and transition stage is slowly fading, but the concern now is to remain consistent and remain relevant to the industry, allowing automations to help companies instead of deterring any processes.

“We only know about the results. But do we know the process that comes into it and why it leads to the results? Aside from the finance standpoint, finance professionals need to streamline the goal across all teams for xP&A to make sense.”

Qi Yang Chan, CFO of Signature Market Sdn Bhd

This is only the first of many overseas events that are yet to come and it was clear from today’s roundtable that everyone misses and enjoys physical events as they were delightfully participative during the discussions. DigitalCFO Asia is also expecting to host Malaysia Symposium 2022 : The Redefined CFO, on the 13th of September. 

DigitalCFO Asia Singapore Symposium 2022 – The Redefined CFO: The Path to Becoming The CFO Of The Future

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DigitalCFO Newsroom | 27 May 2022

  • Held on 19 May 2022, this Symposium addresses how pivotal the roles of CFOs are in organizations during the ongoing revolution of finance transformation
  • The Symposium had more than 50 finance professionals in attendance and some from notable companies such as PSA International, Stamford American International School, Traveloka, Danone Asia, ECCO Asia Pacific and CBRE. 

DigitalCFO Asia hosted this exclusive event to discuss how CFOs are now expected to go beyond the finance function and steer the entire business operations into digitally-driven progress by making each department understand the role of technology, automation, and collaboration.

The panel included industry experts such as Haider Manasawala, Regional Finance Director, Chevron Singapore, Charlie Cheah, Director, Sales & Services, Esker Document Automation Asia Pte Ltd, Alvin Ip, CFO of Aspire, Richard Hyler, CFO of Nutrition Technologies, Lay See Tan, CFO of Shiok Meats, Xuehui Chiu, CFO, SAP ANZ, Himashi Soriano, APAC Managing Director, Association for Financial Professionals, Shian Goh, Finance Director, Teckwah Industrial Corporation Pte Ltd and Pankaj Kabra, Senior Vice President, Finance, Traveloka.

The symposium discussed the role of CFOs in the digital revolution in the finance function, the risks and opportunities in finance function automation as well as trends that are shaping the future of finance function. On top of that, the speakers touched on technologies and tools that make up the modern finance transformation processes. 

The symposium also addressed extending the role of finance by collaborating and aligning the business and operations team. Along with that, the difference between data-informed decision-making and data-driven decision-making process were also discussed. Last but not least, the symposium mentioned the things that can be done for companies to pivot from traditional to digital finance.

More than 50 finance professionals attended the symposium and it received notable attendees from PSA International, Stamford American International School, Traveloka, Danone Asia, ECCO Asia Pacific and CBRE. 

DigitalCFO Asia Virtual Masterclass: How Finance Transformation Is Shaping The Future Of The Finance Department

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DigitalCFO Asia | 21 April 2022

DigitalCFO Asia and Workday partnered to hosted an exclusive masterclass on how finance transformation is shaping the future of the Finance Department.

  • Held on 20 April 2022, this virtual masterclass addresses how Finance Transformation plays a pivotal role in shaping the future of the finance function.
  • The Masterclass was leaded by Joanne Flinn, CEO & Founder, author of Greensight – The Sustainability Handbook for Company Directors as well as experts from Workday
  • The virtual masterclass saw close to 90 registrations and saw attendees from Touch and Go, Great Eastern, PSA, Affin Hwang Investment Bank, Fave Asia and National Healthcare Group

DigitalCFO Asia and Workday partnered to host this exclusive masterclass on how finance transformation is shaping the future of the Finance Department and why it is imperative that organizations should embark on their finance transformation journey now or risk being left behind.

The panel included industry experts such as Joanne Flinn, CEO & Founder of JOANNE FLINN, Tan Lee Thong, CFO Practice Lead of Workday and Chetan Jotwani, Senior Value Manager of Workday.

The webinar spoke on how Finance Transformation plays a pivotal role in shaping the future of the finance function. If companies intend to future-proof the finance function in an increasingly digitized world, finance leaders must leave behind the limitations of traditional methods and move forward with a data-driven approach that will help finance departments function more efficiently and optimally.

Close to 90 registrations were made for the virtual masterclass and it received notable attendees from Touch and Go, Great Eastern, PSA, Affin Hwang Investment Bank, Fave Asia and National Healthcare Group. 

For the first masterclass session, Joanne Flinn addressed why companies need to embrace finance transformation followed by Tan Lee Thong’s masterclass on creating a roadmap & vision as the outcome of the Finance Transformation. Lastly, the virtual masterclass ended off with Chetan Jotwani speaking about the benefits of Finance Transformation and how companies can build a business case. 

If you are in need of enterprise cloud applications for finance, HR and planning, Workday delivers financial management, human capital management, and analytics applications. You can find out more here: https://www.workday.com/ 

DigitalCFO’s 1st Physical Event in 2022: CFO Executive Roundtable – Business Partnering

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DigitalCFO Asia | 18 March 2022

Moderated by Phillip Tan; CFO, IMC Industrial Group, attendees shared insights at DigitalCFO’s first face-to face event in 2022

Held on 16th March 2022 at Andaz Singapore, with Safe Distancing Measures in place

  • In collaboration with Jedox
  • Held at Andaz Singapore’s beautiful garden Studio, this roundtable discusses the xP&A Roadmap: Understanding breakthroughs, opportunities and determining the end goal

To address value of planning and analysis while the economy starting to recover and deal with the impact of the recent pandemic, Jedox partnered with DigitalCFO Asia to host its first physical roundtable after more than two years.

Kickstarting at 10.30am, this mask-on event allowed finance professionals to share insights with one another and find out different trends that evolved in the last two years. The event witnessed an attendance of more than 10 Finance Professionals including CFOs and Finance Directors from Standard Chartered, Storhub, Frasers Centrepoint and many more. Keeping safe distancing measures in mind, attendees were kept to five for each table.

Ryan Kwa, Group Publisher, DigitalCFO Asia opening the event
Shalini Shukla; Consulting Editor, DigitalCFO Asia giving a quick overview of the topic
Phillip Tan; Chief Financial Officer for IMC Industrial Group moderating the roundtable discussion

The roundtable discussion was moderated by Phillip Tan; CFO, IMC Industrial Group, where he led discussions on the Progress & Challenges on the Path to xP&A and how business partnering will drive value for organisations. Attendees actively participated in the discussions, sharing experiences based on their industries and challenges they faced – making the discussion a fruitful one.

Finance leaders are already planning on how to pivot into recovery and advancement. Increased collaboration across all functions in the organization, allows every department to understand the financial implications of operational decisions.

Forward-thinking finance teams know that numbers should not be the end of finance operations. The transition from traditional to digital finance function could be a bit daunting, however, this will allow them to be a more strategic business partner, deliver stronger and deliberate insights, align diverse business objectives, and construct data-driven decisions.

The event ended with an executive 3-course luncheon, where attendees had the chance to interact with Jedox facilitators. Jedox simplifies planning, analysis, and reporting with one unified and cloud-based software suite. Jedox empowers decision makers and business users across all departments and helps them work smarter, streamline business collaboration, and make insight-based decisions with confidence.

AP Automation: The First Step of the CFO’s Digital Transformation Journey

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DigitalCFO Asia | 31 January 2022

  • Held on 11 January 2022, this webinar discusses the market trends on AP Automation in Asia and why it is the start to a CFO’s digital transformation journey. 
  • The panel included industry experts from Jardine Cycle & Carriage Limited, xSuite Asia Pacific and Teckwah Industrial Corporation
  • The webinar saw more than 80 registrations and saw attendees from Enderun Colleges, Altus Capital Partners, GSK, Alcon and many more

xSuite partnered with DigitalCFO Asia to address the key role of AP Automation in the digital transformation journey of CFOs as well as the kick off point in the accounts payable process which provides a low-hanging fruit for CFOs to secure early wins and big impacts to help build trust for the future. 

The panel included industry experts such as Kent Teo, Regional CFO, SEA at Jardine Cycle & Carriage Limited, Marcus Rex, Managing Director at xSuite Asia Pacific and Shian Goh, Finance Director at Teckwah Industrial Corporation. 

Despite the technological advances happening throughout the organisation, accounts payable has remained a manual process in many businesses and still sees the likes of mail delivered invoices and physical cheques. However, a future of finance is said to be embedded with automation, providing real time insights, via a self-service model. With companies wanting to transform to a more digital organisation, it is important that they automate their processes and the first thing companies should digitalise is their accounts payments. 

Marcus Rex said, “With automated processing solutions, your business as well as those in collaboration with you will have easier access to documents without sacrificing on time.”

Technology will play an increasingly important role especially with the companies’ CFO taking on a more strategic outlook. As finance professionals look to drive digital transformation within their departments and their organisations, CFOs need to ensure that they maintain the balance between business value creation, risk management, and fraud mitigation.

Marcus Rex added that, “With fraud detection, AP ensures that you are not paying for anything you should not be paying for. These solutions ensure that the necessary payments are being made, invoices are kept track of and the right PO is in place.” 

At xSuite, they believe that the cloud is the next step in the consistent digitalization of business processes. Their motto is “Cloud first, but not Cloud only”. With their solutions, they will enable you to expand your existing on-premises system landscape with flexible services from the cloud. These hybrid scenarios combine the best of both worlds. You can find out more here: https://www.xsuite.com/en/about-xsuite/xsuite-at-a-glance/ 

The Future of Payments: The Power to Manage and Transform Your Liquidity

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DigitalCFO Asia | 31 January 2022

  • Held on 25 January 2022, this webinar addresses current payment trends in Southeast Asia and how CFOs can increase control and visibility on their cash flows. 
  • The panel included industry experts from Kyriba, Azzana and Danone
  • The webinar saw more than 100 registrations and saw attendees from Deloitte, HPC Holdings, Abbott and many more. 

Kyriba partnered with DigitalCFO Asia to host this Webinar, to address the significant changes in the payment landscape over the recent years due to the advent of technology, innovation and more convenient global payments. 

The panel included industry experts such as Steven Otwell, Director of Payments for Kyriba, Pulat Yunusmetov, Treasury Manager at Danone with its panel discussion moderated by Antoine Degardin, Managing Partner of Azzana. 

The webinar spoke on current payment trends in Southeast Asia and the implications of these trends on companies’ cash management and the tools necessary to establish a gatekeeper within such evolving trends. By understanding the tools and platforms available. CFOs can automate payment processes to standardize controls that enhance fraud prevention and ensure a standardized payment process regardless of geography or amount. 

From the webinar CFOs can look to change their payment process and to improving overall payments efficiencies and further reducing opportunities for fraud. Not having the ability to control or monitor cash flow efficiently will inhibit businesses’ ability to reinvest and diversify. With the rise of open banking and real-time payments/GPI, which has grown by 42 percent in 2021, there is an increased need for companies to implement a system radically.

Steven Otwell said, “Talk to the banks and talk to them early. Who are your banking partners today and what do you think your business will be in 3 to 5 years time? Look into your footprints in the next few years as the value of your future payments will depend on that.” 

He also added, “Find out what you need to add as well as what you are missing to your (payment) strategy.” 

If you are in need of cloud treasury and finance solutions, Kyriba delivers mission-critical capabilities for cash and risk management, payments and working capital solutions. You can find out more here: https://www.kyriba.com/ 

CFOs to Evolve Stronger with Predictive Intelligence in 2022 | DigitalCFO Asia x CCH Tagetik

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DigitalCFO Asia | 26 November 2021

  • Held on 24 November 2021, this webinar discusses how CFOs can leverage on predictive intelligence to excel in 2022
  • The panel included industry experts from Asurion, Diageo and CCH Tagetik
  • The webinar witnessed the attendance of key medium and large enterprises including Zuellig Pharma, Deloitte, Royal Dutch Shell, ADP, Indorama Ventures and many more

To address the rapidly changing business landscape created by the global Covid-19 pandemic which had significant impact on CFOs’ role and key finance processes such as budgeting, forecasting, and FP&A, CCH Tagetik partnered with DigitalCFO Asia to host the consultancy’s first ever virtual seminar.

The panel included industry experts such as Paul Lennie, CFO of Asurion for SouthEast Asia, Ratiporn Ratcharoen, Transformation Director of Diageo for APAC and Karl-Michael Mouantri, General Manager of CCH Tagetik | Wolters Kluwer for APAC, moderated by Keyur Shah, Senior Finance Director, FP&A COE, APAC at Johnson & Johnson.

Attended by medium to larger enterprises from ASEAN and Hong Kong, this webinar featured key financial transformation insights such as predictive analytics and intelligence from Industry Experts and introduced attendees to the evolving role and priorities of CFOs to remain agile and strong in the next coming years.

External factors such as remote working, deteriorating businesses, and unexpected market changes have seriously affected organisations’ current and future business goals.

CFOs and finance executives can now use predictive analytics to discover underlying patterns and connections between finance, operational, and external data, providing them with explainable forecasts and actionable insights to make faster and better data-driven decisions in an increasingly uncertain world. Predictive analytics can help financial executives discover significant business drivers, enhancing decision-making accuracy while lowering risk.

Ratiporn notes that it is important to have the right problem statement in order to narrow down and prioritise what needs to be done, instead of trying to do everything in one go which may lead to many setbacks. She states that companies should start with the process that has the biggest impact, and other processes should follow suit accordingly.

As his closing address, Paul explained that “Ensure that you align to your broader business goals at the end of the day and ensure that you aim to solve something when implementing finance transformation or predictive intelligence in your processes.”

“Start small, fail fast and you’ll learn even quicker. You’ll be surprised with the results,” he added.

To learn how you can propel your strategy with faster and better-informed decisions, visit https://www.wolterskluwer.com/en and leverage on CCH Tagetik’s Corporate Performance Management expert solution with embedded predictive intelligence.