Finance Vision 2020 - the future controller
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The document discusses the evolving role of the CFO and controller in light of significant trends and challenges by the year 2020. It outlines four key megatrends impacting finance, such as the need for sustainability, balancing security and openness, integration of real and virtual worlds, and a drive for excellence and talent. Additionally, it emphasizes the importance of aligning financial leadership with strategic value creation and the necessity for transformation within the finance function.
Finance Vision 2020 - the future controller
- 1. Finance Vision 2020; The Future Controller Good To Know More Klaasjan Doeswijk 26 June, 2009
- 2. Good To Know More; Finance Vision 2020 26 June, 2009
- 3. 26 June, 2009 Good To Know More; Finance Vision 2020
- 4. Introduction Finance Vision 2020 The finance function is transforming rapidly: Emerging global markets; Advances in technology; Changing socio-political landscape. Many of these developments will drive the way a CFO works and lives. What is the future role of the CFO in a changing environment? And what will be the role of the controller in the future? Finance Vision 2020: “It’s not about the money … show me the value” CFO CVO Controller Business Partner Value Creator 26 June, 2009 Good To Know More; Finance Vision 2020
- 5. We foresee 4 megatrends towards 2020 26 June, 2009 Say goodbye to blue , here is green Balancing security and openness Real and Virtual world Drive for excellence and talent and stop mediocrity Good To Know More; Finance Vision 2020
- 6. 0 is about environmentally friendly and the exhausting of natural resources 26 June, 2009 Good To Know More; Finance Vision 2020
- 7. 1 is about balancing security and openness 26 June, 2009 Good To Know More; Finance Vision 2020 Records Management
- 8. 2 is about bringing the real and virtual world more together 26 June, 2009 Good To Know More; Finance Vision 2020
- 9. Avoiding the 6- by having a drive for excellence and talent and stopping mediocrity 26 June, 2009 Good To Know More; Finance Vision 2020
- 10. Finance Function Master plan 2020 from trends and drivers 26 June, 2009 What will your CFO do to commit to the 3 times 20% objective by 2020 meaning 20% less energy consumption, 20% less CO2 and 20% share of renewable energy? Good To Know More; Finance Vision 2020
- 11. Finance Function Master plan 2020 from trends and drivers 26 June, 2009 What will you do as CFO/ controller to balance our desire for openness and our fears of terrorism, extremism and other threats to our security? Good To Know More; Finance Vision 2020 Balancing security and openness
- 12. Finance Function Master plan 2020 from trends and drivers 26 June, 2009 How will the ever increasing influence of internet and the introduction of the Virtual Personal Assistant (VPA) that connects the physical with the virtual world impact on you as CFO or controller? Good To Know More; Finance Vision 2020 Bringing the real and virtual world more together
- 13. Finance Function Master plan 2020 from trends and drivers 26 June, 2009 Are you as CFO/ is you organization able to attract and retain the most talented, experienced and skilled people in this highly mobile world full of demographic shifts? Good To Know More; Finance Vision 2020
- 14. How could the Finance Transformation journey towards 2020 look like? 26 June, 2009 Good To Know More; Finance Vision 2020
- 15. I don’t have a cristall ball … but let’s discuss the questions raised Welke impact zal de toepassing/ ontwikkeling van informatie technologie op de rol van de Controller anno 2020 hebben? 26 June, 2009 Bent u het eens met de stelling: De volgende drie disciplines moeten continu optimaal samenwerken, volledig afgestemd op de operatie, om zo als een spiegel voor die operatie te zijn: - DE voorwaarde voor profitability & organisational control: Finance, ICT and HRM. Welke stappen dienen genomen te worden om een CVO unit binnen een detacheringsorganisatie (bijvoorbeeld Yacht) te implementeren om goed voorbereid te zijn op deze nieuwe financiële functie? Hoe ziet de spreker de gevolgen van de interne druk op "aandeelhoudersvriendelijke" rapportage en de verscherpte aansprakelijkheid bij (vermeend) onrechtmatig handelen door een andere kijk op hetgeen is verantwoord. Wat is nou echt de trend voor de toekomst voor accounting (boekhouden)/controlling: off shoring, outsourcing of binnen bedrijf houden? Hoe kijkt de heer Doeswijk aan tegen de plannen die er zijn om IFRS ook voor SME's (MKB) in te gaan voeren? Good To Know More; Finance Vision 2020 Welke andere of extra competenties moet de controller van 2020 hebben ten opzichte van die van 2009?
- 16. Final thought … 26 June, 2009 Good To Know More; Finance Vision 2020
- 17. www.capgemini.com/consulting Capgemini Consulting is the strategy and transformation consulting brand of Capgemini Group Copyright © 2009 Capgemini. All rights reserved.
- 18. Our next step is to get one level deeper … that’s why we organizing Finance Summit 2009 for coming August 25 Programma : 10.00-10.30 u Ontvangst 10.30-12.00 u Plenaire sessie Finance Vision 2020 12.00-12.45 u Lunch 12.45-14.15 u Deelsessie Megatrend (1) 14.15-14.30 u Korte break 14.30-16.00 u Deelsessie Megatrend (2) 16.00-17.00 u Plenair en borrel Good To Know More; Finance Vision 2020 26 June, 2009 See our advert in the ‘Financiële Telegraaf’ of tomorrow or check www.capgemini.nl/evenementen
- 19. APPENDIX Good To Know More: The Future Controller 26 June, 2009 Good To Know More; Finance Vision 2020
- 20. The future CFO will adapt the financial organization to meet the developments in the changing environment 26 June, 2009 CFO organization Control and Risk Office Sovereign functions and risk management Transformation Office Internal driver for change to allow for constant adaptation and progressive evolution towards high efficiency and effectiveness Support Office Offers “industrialized” services Value Office Integrated manager of corporate values in an holistic way Strategic impact Operational impact Good To Know More; Finance Vision 2020 Value Partner Mandatory function Transaction factory
- 21. The future CFO will become a value partner covering all dimensions of the company 26 June, 2009 CFO perspective People IT Dynamic organization including Value Office Control and Risk Office Support Office Transformation Office in order to pro-actively meet future challenges “ Industrialized” processes will generate the requested internal and external services The CFO acts as data & information architect defining and securing consistent finance-relevant data infrastructure The strategic advantage of the CFO organization in 2020 will be reached through flexible and highly qualified people Data & information Services & Processes Organization A global and harmonized IT landscape is the backbone for the future organization Good To Know More; Finance Vision 2020
- 22. The CFO organization offers all its service within a distinct set of roles in order to allow for an optimized interaction with the business 26 June, 2009 Character of service offering Transformation Office Support office Accounting Standard controlling services Intercompany accounting Cash management / cash pooling CO 2 -accounting Control and risk office Corporate guideline, standards, methods Information architecture Corporate governance and legal requirements Sustainability policy Value office Group accounting / controlling Information management Treasury Investment / initiative Controlling “ Green” controlling Value partner Sovereign function Transaction factory Risk management on business level Financial risks Business risks Environmental risks Financial advisory Value management Forward visibility Financial advisory Mergers and acquisitions Investor management Ext. stakeholder management Change management Business case / benefits tracking Program office Plan / design / build Continuous improvement programs Good To Know More; Finance Vision 2020
- 23. The future CFO takes over different roles within the organization 26 June, 2009 Global Information Architect & Broker The CFO ensures full awareness of internal and external perception and information Chief Value Officer The CFO acts as CVO - responsible that value is managed and measured at desired levels throughout the company and its network True Leader The CFO guides the entire CFO organization according to one conjoint vision Ambassador of and to Capital Markets The CFO actively mediates the mutual demands between the capital markets and the company Lead finance-relevant aspects inside the whole organization Commit the CFO organization to a unifying mission globally and across cultures Mediate the financial world and the executive board Manage the portfolio of investors Watch out for business and financial risks Act as value officer in various financial and non-financial dimensions Drive innovation and performance to foster value for all stakeholders Provide world-wide business-tailored information Extensive use of IT architecture as backbone of data & information network CFO The CFO stands for the financial vision of the company and communicates this inside and outside the CFO organization. Good To Know More; Finance Vision 2020
- 24. The relevant HR processes to support the organizational transformation allow for better employee fit, higher job satisfaction & better performance 26 June, 2009 Career model Staff development Incentives & retention Recruiting & staffing Basic profile Good To Know More; Finance Vision 2020 “ Accelerating incentive” “ MBA” profile Cross functional development programs Building global leaders Focused selection Value office “ Accountant” and/or “Controller” profile Standardized contracts “ Training on the job” Building old-hand experts “ Mass” -recruiting Support office
- 25. What do CFO’s think of what they will be doing in 2020 Decision maker at the forefront, to be perceived as a Chief Value Officer who can contribute to the strategic debate Focus on people management, value, risks, integrity, growth, innovation and on external challenges Daily activities include checking the dashboard, ensuring compliance, inspiring and coaching people in the team, judgement and managing external relations with shareholders and investors The CFO's team consists of diverse people from different nationalities and cultural backgrounds His KPIs are no longer solely measured in Euros. Other KPIs include reputation and company image, corporate social impact, financial performance and employer value . It is not cool to perform routine tasks ; these will be automated. To work long hours in a fixed working environment. Excessive travel times Explaining (new) accounting rules to shareholders Being overloaded with information . 26 June, 2009 What’s Cool What’s not Cool Good To Know More; Finance Vision 2020
- 26. The CV of the CFO in 2020 26 June, 2009 Good To Know More; Finance Vision 2020
- 27. www.capgemini.com/consulting Capgemini Consulting is the strategy and transformation consulting brand of Capgemini Group Copyright © 2009 Capgemini. All rights reserved.
Editor's Notes
- #2: Copyright © 2009 Capgemini. All rights reserved. 26 June 2009 Good To Know More; The Future Controller
- #8: Terrorisme vs. - Overload aan informatie vs. Uitfilteren wat nodig is - Data security Copyright © 2009 Capgemini. All rights reserved. 26 June 2009 Good To Know More; The Future Controller
- #9: - Philips iPill - USB wine - 3D printing Copyright © 2009 Capgemini. All rights reserved. 26 June 2009 Good To Know More; The Future Controller
- #10: Mobility of employees vs. retaining knowledge Talent vs. mediocrity - Copyright © 2009 Capgemini. All rights reserved. 26 June 2009 Good To Know More; The Future Controller
- #18: Copyright © 2009 Capgemini. All rights reserved. 26 June 2009 Good To Know More; The Future Controller
- #28: Copyright © 2009 Capgemini. All rights reserved. 26 June 2009 Good To Know More; The Future Controller