The Strategic CFO: Changing the Game for Finance


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A recent survey reveals an interesting trend: the majority of CFOs want to provide greater and more strategic value to their organizations. Unfortunately they're stuck managing inefficient accounting processes. But in 2013 there is hope. Thousands of organizations are taking advantage of cloud computing, which changes the game for CFOs by eliminating drudgery, automating manual processes and delivering unprecedented visibility into business performance -- freeing time and providing rich information that CFOs are using to fulfill their role as business leaders. Learn how CFOs are now able to boost productivity, accelerate competitive response, free up IT and capital resources as well as easily and cost effectively scale the function while utilizing the cloud.

Marc Linden, CFO, Intacct

Presentation delivered at CFO Dimensions 2013 -
Track: Leadership | Session: 2

Published in: Business, Technology
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The Strategic CFO: Changing the Game for Finance

  1. 1. 1© 2013 The Strategic CFO — Using Cloud Computing to Change the Game for Finance Marc Linden CFO, Intacct Jeff Haslow CFO, The Knowland Group
  2. 2. 2© 2013 Today’s Agenda Cloud basics The strategic shift for CFOs How the cloud enables the transformation Takeaways
  3. 3. 3© 2013 The Cloud Impacts All of Us as Consumers
  4. 4. 4© 2013 Now Also for Your Business Applications
  5. 5. 5© 2013 Cloud Computing: Served Up 3 Ways • • •
  6. 6. 6© 2013 Today’s Agenda Cloud basics The strategic shift for CFOs How the cloud enables the transformation Takeaways
  7. 7. 7© 2013 CFOs Have a Strong Desire to Change Their Organization’s Role… 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Current Role Desired Role Score Keeper Gate Keeper Provider of Analysis Business Accelerator Armanino McKenna, “The CFO Evolution – 2011 Benchmark Survey Results”, Dec 2011
  8. 8. 8© 2013 What Does a Business Accelerator Do? Long term strategic planning Evaluating new business models Corporate development activities Evaluating new market opportunities Building support for new initiatives Working with board or analyst
  9. 9. 9© 2013 • • • • • • • • • • • • • • •
  10. 10. 10© 2013 Inefficiency in the Accounting Function Often Hinders Focus on Business Leadership
  11. 11. 11© 2013 Today’s Agenda Cloud basics The strategic shift for CFOs How the cloud enables the transformation Takeaways
  12. 12. 12© 2013 How the Cloud Enables Transformation
  13. 13. 13© 2013 Cloud Financial Management Boosts Productivity Through Automation Focus on what matters/costs most to the business: Quote-to-cash Procure-to-pay Revenue management Budgeting and planning Time and expense
  14. 14. 14© 2013 Example: Software Quote-to-Cash Process Before    
  15. 15. 15© 2013 Example: Software Quote-to-Cash Process After • • • •
  16. 16. 16© 2013 The Cloud Enables Real-Time Access to Central Repository of Information Real-time, consistent, secure information in the cloud—a single version of the truth 24x7 accessibility by all stakeholders Instant feedback on performance to plan Tighter alignment across the organization Personalized reporting and dashboards
  17. 17. 17© 2013 The Cloud Lets You Access Your Data from Anywhere A single source of data Access from anywhere, anytime Labor can be located anywhere in the world Simultaneous users 17
  18. 18. 18© 2013 Cloud Financial Management Provides Analysis Needed for Growth From: Management by spreadsheet Manually intensive, error prone Trapped in silos on the desktop • • • • • •
  19. 19. 19© 2013 The Cloud Gets You Out of the ―No Value Added‖ IT Business Cloud vendors operate and maintain the system for you Better infrastructure and operations than nearly all companies can afford Fortune 100 class data centers 24x7x365 operations Continuous backups and disaster recovery SSAE 16 (previously SAS 70) Possible because costs are amortized across thousands of companies
  20. 20. 20© 2013 Tasks You No Longer Have to Worry About When Running Your Systems in the Cloud 20
  21. 21. 21© 2013
  22. 22. 22© 2013 The Cloud Brings You Closer to your Vendor Customer Feedback Continuous Innovation Rapid Access to New Features
  23. 23. 23© 2013 Your Business Will Grow in Size and Complexities Increased complexity may include: New business entities Multiple currencies New geographies Acquisitions New GMs that want their consolidated view Tax optimization Software International Inc. USD Software Development Israel (ILS) Software Development India (INR) Software Sales UK (GBP) Software Sales Europe (EUR) Software US (USD) Buddy Software (USD) (acquisition) Software Japan KK 51% ownership (Yen)
  24. 24. 24© 2013 When Running Your Business on SaaS, It Is Easy to Integrate Systems When Needed Why SaaS is easier to integrate: SaaS web services are widely accepted technologies Many vendors support it Availability of 3rd party intermediaries Both self service or consultant-built options
  25. 25. 25© 2013 The Cloud Provides Scale to Support Growth Easily and cost effectively scale and adapt to business needs: Pay only for what you need Simultaneous and distributed users with strict permissions, separation of duties and financial control Support for large data files (customers, vendors, employees, etc) Industry leading system performance and reliability Add-on capabilities and integrations when you need them
  26. 26. 26© 2013 Example: Set Your Accounting System Up To Easily Manage Acquisitions From: Consolidating entities on spreadsheets Multiple instances of QuickBooks Merged entities on different systems Manual journal entries for inter-entity transactions • • • • • •
  27. 27. 27© 2013 Jeff Haslow CFO, The Knowland Group
  28. 28. 28© 2013 About the Knowland Group Founded in 2004 – high-growth mode for the past 9 years SaaS, Data, Analytics and Services to more than 3,000 hotels and 25,000 users worldwide – billed monthly 150 employees in three locations Bootstrap funded until first private investment last year.
  29. 29. 29© 2013 Today’s Agenda Cloud basics The strategic shift for CFOs How the cloud enables the transformation Takeaways
  30. 30. 30© 2013 ERP System Change Addresses the Top Issues for CFOs
  31. 31. 31© 2013 Systems Change is a Strategic Opportunity Systems Enable Transformation Drive productivity via automation Provide reporting and real-time business visibility Integrate to other business systems Scale to support growth 31 • • • •
  32. 32. 32© 2013 Starting the Transformation What You Should Be Asking Yourself Boost productivity of financial processes Where do you spend your time now? What is being done in Excel? Supply insight for better and faster decisions How old is the information from which you are making decisions? What is the bottleneck in getting the data? Focus resources on your core business What other financial or related systems are critical to your business? Where can you eliminate duplicate entry, entry errors etc? Deliver scale for growth What are business needs 3-4 years from now? Do you have a business systems map to meet those needs?
  33. 33. 33© 2013 Interested in Learning More?
  34. 34. 34© 2013 Thank You! FOR MORE INFORMATION:
  35. 35. 35© 2013 Thank You Sponsors! PLATINUM GOLD SILVER DIAMOND