I n t e r v i e w w i t h : D o r i n d aAbendschein, Senior Vice Presidentand Chief Financial Officer, Brinks,Inc.“Chief ...
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Why CFOs Must Stay on Top of Innovation & Technology - Dorinda Abendschein, Brinks, Inc.

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Dorinda Abendschein, a speaker at the marcus evans CFO Summit XXVI Spring 2013, on how CFOs can keep up-to-date on innovation and technology.
Interview with: Dorinda Abendschein, Senior Vice President and Chief Financial Officer, Brinks, Inc.

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Why CFOs Must Stay on Top of Innovation & Technology - Dorinda Abendschein, Brinks, Inc.

  1. 1. I n t e r v i e w w i t h : D o r i n d aAbendschein, Senior Vice Presidentand Chief Financial Officer, Brinks,Inc.“Chief Financial Officers (CFOs) mustkeep current on what is going on intheir business and customer lines,” saysDorinda Abendschein, Senior VicePresident and Chief Financial Officer,Brinks, Inc. “CFOs are used to keepingin touch with accounting regulations andchanges in policy, but it is critical theyalso stay on top of innovation andtechnology. It is important CFOsunderstand what customers want to buyand what they are willing to pay for,”she adds.Abendschein is a speaker at the marcusevans CFO Summit XXVI Spring2013, in Mashantucket, Connecticut,May 19-21.What should CFOs prioritize today?What makes the biggest impact onthe bottom line?CFOs need to have a good level ofunderstanding of the operational andtechnological sides of their business.There was a time when financialacumen and competency was enough,but the reality today is that leadershipdiscussions are around innovation, andhow much technology or change thecompany can afford in a period of timewhen investors are expecting a healthybottom line. CFOs have to be continuallyrelevant. They should have a closerelationship with the Chief InformationOfficer to really understand howtechnology translates to profitability.Balancing long-term and short-termgrowth is a constant battle. If acompany does not innovate, it will notsurvive.Anyone can be a good CFO for a yearand make a current period look strong,but shareholders are expecting growth.CFOs need to make sure that there areoperational work streams that allowinnovators in the organization to have avoice and they have to securesecondary resources for investmentrelative to that innovation.Going slow because they cannot affordit could shut down the pipeline forgrowth, while going too fast can put thecompany out of business. It is a finebalance between the two.How could they ensure thattechnology implementations aresuccessful?Any technology or competency changehas to be combined with training andeducation. Many technology imple-mentations have failed because peopleassumed that business processes werescalable relative to that innovation orinvestment, but that is rarely the case.Employees have to be re-trained and bea part of that evolution. Many forgetthat piece and when it fails, they fail theInformation Technology department andpotentially the customer.The CFO’s job is also to enableproductivity initiatives and make surethere is always an accountabilityelement.Any final thoughts?C F O s m u s t l o o k a t b u s i n e s simprovement initiatives holistically. Thecompany will get there a lot faster ifpeople are trained, ready and theyunderstand what the expectations are.Many CFOs struggle to keep track ofproductivity improvements, but theyneed to set a clear roadmap which istied back to the people who areresponsible for it. That is critical forCFOs to know whether the organizationis ahead or behind pace, and to be ableto course correct it.CFOs mustlook atbusinessimprovementinitiativesholisticallyWhy CFOs Must Stay on Top ofInnovation & Technology
  2. 2. About marcus evans Summitsmarcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discussstrategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity toindividually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings.For more information, please visit: www.marcusevans.comUpcoming EventsCFO Summit (Australia) - www.cfo-anz.comTax Officers Summit - www.taxofficerssummit.comTo view the web version of this interview, please click here: www.cfosummits.com/DorindaAbendscheinThe Finance Network - marcusevans Summits group deliverspeer-to-peer information onstrategic matters, professionalt r e n d s a n d b r e a k t h r o u g hinnovations.Please note that the Summit is aclosed business event and thenumber of participants strictlylimited.About the CFO Summit XXVI Spring 2013This unique forum will take place at the MGM Grand at Foxwoods Resort and Casino,Mashantucket, Connecticut, May 19-21, 2013. Offering much more than anyconference, exhibition or trade show, this exclusive meeting will bring togetheresteemed industry thought leaders and solution providers to a highly focused andinteractive networking event. The Summit includes presentations on bringing morefocus to balance sheet health, helping companies to find profitability growth andmotivating top finance performance.www.cfosummits.comContactSarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, SummitsDivisionTel: + 357 22 849 313Email: press@marcusevanscy.comFor more information please send an email to info@marcusevanscy.comAll rights reserved. The above content may be republished or reproduced. Kindlyinform us by sending an email to press@marcusevanscy.com

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