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Finance

Finance

Building greater trust in your data

Yes, you can build better trust in your data —but only if the organization can collect, structure, analyze and protect data in the right ways with the right...

Yes, you can build better trust in your data —but only if the organization can collect, structure, analyze and protect data in the right ways with the right tools. Modern supply chains integrate a host of related parties (and human error) into knowledge systems, which include business metrics, supplier sustainability performance data, and even intellectual property (IP). This is why systems and data must be built around secure access and verifiable trust. By 2022, cybercrime...

Finance

Finance’s role in a Data breach

I’d had personal experience of what it means to be hacked. And it’s not pleasant. Not only because of the obvious loss of trust and information that a data...

I’d had personal experience of what it means to be hacked. And it’s not pleasant. Not only because of the obvious loss of trust and information that a data breach entails, but mostly because there was no contingency planning and the situation took our finance department by surprise. Things have changed since though and we are seeing CFOs to change their mindset and start planning for cybersecurity issues. Why would the role of a CFO be moving in this direction and what are...

Finance

A CFO’s perspective on Data Security

CFOs should govern data security, not IT. Why? Because they hold the purse’s strings and are most qualified to plan for risk, in an era where the next...

CFOs should govern data security, not IT. Why? Because they hold the purse’s strings and are most qualified to plan for risk, in an era where the next cyber-attack is not a question of “If” but “when” and “how often”. So what is the CFO’s role today, and why should it include data security? The CFO role of today is one of a few that is used to complying with regulations. From the complex accounting standards that took many years to achieve excellence within to equally...

Finance

There is no fake data

Uncertainty is the new normal. In the era of fake news and unpredictable market changes, there is however one thing you can trust and control: data. Data...

Uncertainty is the new normal. In the era of fake news and unpredictable market changes, there is however one thing you can trust and control: data. Data doesn’t lie, but it needs to be secure, for it to be harnessed by business leaders in decision making. “Uncertainty is killing growth,” ran the FT headline at the end of December 2018. The hook for its story was a new paper from the IMF and Stanford University that launched a World Uncertainty Index (WUI) – a rough measure...

Finance

Finance’s new data mindset

Finance’s job is getting bigger. With this comes greater complexity and a new level of accountability. New areas are emerging where the CFO is no longer just...

Finance’s job is getting bigger. With this comes greater complexity and a new level of accountability. New areas are emerging where the CFO is no longer just consulted but actually accountable, particularly when it comes to data security and compliance. And that shift means that finance leaders need to embrace a new mindset, where they actively embrace this new environment. You might or not be familiar with the responsibility assignment matrix, with its four categories:...

Finance

Finance must lead the conversation on data ethics

Finance leaders have always felt responsible for company data, but the spotlight has shifted to protecting people outside the business. Customer and employee...

Finance leaders have always felt responsible for company data, but the spotlight has shifted to protecting people outside the business. Customer and employee data breaches can swing reputations and valuations overnight, making ethical data management a priority across the organisation. We squirm when an invasion of privacy feels personal, even if it doesn’t affect us directly. This is why recent data breaches – from the man who hacked German government officials to companies...

Finance

Innovation is a mindset

According to a recent global survey, 54% of CFOs describe themselves as ‘uncommitted innovators’. Change can be scary – not least for CFOs trying to stand up an...

According to a recent global survey, 54% of CFOs describe themselves as ‘uncommitted innovators’. Change can be scary – not least for CFOs trying to stand up an innovation investment case. Breaking down the challenges; justifying change with rigorous, data-driven insights; and targeting projects at well-articulated pain-points are all ways to get over the mental block. These “uncommitted innovators” are defined as ‘would like to be more innovative but rarely get the time,...

Finance

Tailor-made innovation

Most business leaders recognise they need to innovate – or risk being disrupted themselves. But for many companies, relentlessly searching for the next killer...

Most business leaders recognise they need to innovate – or risk being disrupted themselves. But for many companies, relentlessly searching for the next killer idea could be doing more harm than good. The secret? Do your own (new) thing… Management guru Gary Hamel wrote more than ten years ago, “You can wait for a competitor to stumble upon the next great management breakthrough, or you can become a management innovator right now. In a world swarming with new challenges, you...

Finance

Focus on growing, by freeing up time.

Smart organisations treat the finance function as a navigator, showing where to invest, what strategies make sense and how to deliver them. But that can only...

Smart organisations treat the finance function as a navigator, showing where to invest, what strategies make sense and how to deliver them. But that can only happen when CFOs innovate for themselves – freeing up resources to plot new adventures for their businesses. There’s an argument that without the incredible wealth and banking efficiency of the Medicis in 15th century Italy, there would be no Renaissance. Innovation in art, science, philosophy and politics was based on...