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The Evolving Role of Finance Leaders: Driving Technology Across the Enterprise

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Video/Presentation: http://www.proformative.com/events/evolving-role-finance-leaders-driving-technology-across-enterprise …

Video/Presentation: http://www.proformative.com/events/evolving-role-finance-leaders-driving-technology-across-enterprise

As the role of the finance leader continues to evolve, the office of the CFO now has much more ownership of technology adoption. Finance leaders must not only understand which systems his or her staff needs, but the needs of company employees across the enterprise that impact productivity, support growth, and drive profitability. Learn how finance leaders can successfully own technology across the enterprise by leveraging current and emerging trends in cloud and related technologies.

Speaker:
Warren May, Comptroller, International Association of Fire Fighters

Presentation delivered at CFO Dimensions 2013 - http://www.cfodimensions.com
Track: Finance Technology | Session: 1

Published in: Business, Technology

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  • 1. 1© 2013 The Evolving Role of Finance Leaders: Driving Technology Across the Enterprise
  • 2. 2© 2013 Case Study: From Fire Fighter To Rainmaker With Cloud Computing Warren May, CPA Comptroller, International Association of Fire Fighters
  • 3. 3© 2013 Who is the International Association of Fire Fighters? Represent 300,000 + professional fire fighters and paramedics across the United States and Canada Headquartered in Washington, DC, Office in Ottawa, Canada 120 employees Remote users require access to data
  • 4. 4© 2013 Business Challenge: Budget Preparation & Reporting Time consuming Labor intensive Manual manipulation of data Inability to perform “What-if” scenarios Difficulty reporting: reports are static Remote consumers of information Timeliness of data Budget Prep. Analysis
  • 5. 5© 2013 How Could We Improve Our Process? Ease of use: user friendly; familiar interface Web based Easily configurable Minimal IT support/maintenance required Integrates seamlessly with accounting & other systems Time tested proven solution Customer support
  • 6. 6© 2013 Solution: Cloud-Based Enterprise Performance Management Solution • Budget is prepared in weeks rather than months, • With additional supporting detail and transparency • Reports can be run by end users • Data is more accessible to end users • Actual figures are updated regularly • Able to set security based on areas of responsibility • Empower users to better manage their functional areas
  • 7. 7© 2013 Future Plans: Continue to review our chart of accounts Consolidate selected budget lines to provide more streamlined, meaningful reporting Increase data and reporting available to end users Improve timeliness of reporting to internal users & outside agencies Move the burden of report generation from finance department Enable users to create ad hoc reports, as needed
  • 8. 8© 2013 Future Plans: Move grant budgeting/reporting into the application Integrate with other existing systems Membership database Document management system Create dashboards for key executives
  • 9. 9© 2013 Lessons Learned Have a complete understanding of the business problem/process (process to be automated) Be able to communicate details Devote adequate resources to project Communication; regular status updates Clear understanding of required IT resources Training, training, training
  • 10. 10© 2013 Thank You! Case Study: From Fire Fighter To Rainmaker With Cloud Computing
  • 11. 11© 2013 Thank You Sponsors! PLATINUM GOLD SILVER DIAMOND