Ah, taxes! A bit of “humor” on a definitely serious topic for every enterprise: * Benjamin Franklin: “In this world, nothing is certain except death and taxes.” * Bonnie Raitt: “Solar power is the last energy resource that isn't owned yet – nobody taxes the sun yet.” * Arthur C. Clarke: “The best measure of a man's honesty isn't his income tax return. It's the zero adjust on his bathroom scale.” Ok, time to get serious. The EY 2020 Tax and Finance Operate survey reported that 51% of all respondents expected an increase to their organization’s tax risk profile from complying with emerging digital tax filing requirements, while a whopping 84% expected it to increase the workload of the tax and finance function. EY’s 2022 Tax and Finance Operations Survey found 84% of respondents are actively transforming to tackle challenges. Talent, legislative and regulatory changes, and future-proofing technology are key concerns for Tax and Finance functions. And the COVID-19 pandemic worsened some challenges, accelerating the need to transform. Reality check: With new regulatory announcements coming every month, your business needs to adapt your processes to remain sustainable and profitable. How do intelligent businesses like yours take your tax transformation as a strategic turning point for operational efficiency and seamless compliance? Stop deprioritizing – or worse, ignoring – your company’s tax function in digital business transformation initiatives. We’ll ask Erika Buson, Sveinung Baumann-Larsen and Vicky Bradford for their insights on The Digital Enterprise: Turning Taxes Into Opportunity!

The Buzz 1: “As specialized tools and technology have emerged, the role of CFO has evolved. CFOs of companies large and small need to embrace flexibility, develop global strategies, and shift their focus to look forward rather than back.” (www.teampay.co/insights/cfo-quotes/) The Buzz 2: “When you are a successful company, you have to fight really hard to make sure you avoid complacency, arrogance, bureaucracy.” (Marianne Lake, CFO of JPMorgan Chase) The Buzz 3: “The CFO needs to be supported by a strategic FP&A team that is excellent at all levels… a team that is prepared for where the company is going—not where it’s been.” (Jim Johnson, Former CFO of Adaptive Insights) Amid globally turbulent times, today’s Financial Planning and Analysis (FP&A) function is striving to spend less of its time “Planning” and more time delivering value-added “Analysis” to its business constituents. How? Finance and its IT support teams need to focus on the future, utilizing the available modern tools – Artificial Intelligence, Machine Learning, Analytics and Collaboration. Similar to the automotive industry working to deliver safe, self-driving vehicles, FP&A needs to “feel the need, the need for speed” [quoting Lt. Pete ‘Maverick’ Mitchell in the Top Gun films] to drive automated or, even better, autonomous planning. What steps can your FP&A team take to harness technology today in order to optimize their time delivering the best possible analysis to your organization tomorrow? We’ll ask Finance professionals Paul Davis at Analysis Prime, Colin Chu at SAP and Nilly Essaides at NeuGroup for their take on Driving The Emphasis on Analysis for Finance: Focus on Automation.

The Buzz 1: Most of the countries negotiating a global overhaul of cross-border taxation of multinationals have backed plans for new rules on where companies are taxed and a tax rate of at least 15%… A global minimum corporate income tax of at least 15% could yield around $150 billion in additional global tax revenues annually. 130 countries, representing more than 90% of global GDP, had backed the agreement at the talks. New rules on where the biggest multinationals are taxed would shift taxing rights on more than $100 billion of profits to countries where the profits are earned. [reuters.com – 2021-07-01] The Buzz 2: As of 4 November 2021, over 135 countries and jurisdictions joined a new two-pillar plan to reform international taxation rules and ensure that multinational enterprises pay a fair share of tax wherever they operate. [oecd.org] Look up! Is it a bird? Is it a plane? No, it’s global minimum tax. Will your company be hit and if yes, how hard? Global minimum tax rules, aka “Pillar Two Model Rules”, are set to go into effect in 2024. Developed as part of the OECD/G20 BEPS 2.0 project, these rules will dramatically change the international tax landscape and create significant new tax reporting and compliance requirements for affected organizations, in every industry. With the clock ticking, your Finance organization needs to understand the potential impacts of these rules and develop a comprehensive technology-centered plan. Priorities to cover: adapting internal processes and systems to manage the new computations and data requirements, calculating your global minimum tax liabilities and satisfying reporting obligations. Saddle up! We’ll ask Sveinung Baumann-Larsen at EY, Erika Buson at SAP and Matthias Klein at BASF for their take on The Arrival of Minimum Taxes: A New World Order.

The Buzz 1: Most of the countries negotiating a global overhaul of cross-border taxation of multinationals have backed plans for new rules on where companies are taxed and a tax rate of at least 15%… A global minimum corporate income tax of at least 15% could yield around $150 billion in additional global tax revenues annually. 130 countries, representing more than 90% of global GDP, had backed the agreement at the talks. New rules on where the biggest multinationals are taxed would shift taxing rights on more than $100 billion of profits to countries where the profits are earned. [reuters.com – 2021-07-01] The Buzz 2: As of 4 November 2021, over 135 countries and jurisdictions joined a new two-pillar plan to reform international taxation rules and ensure that multinational enterprises pay a fair share of tax wherever they operate. [oecd.org] Look up! Is it a bird? Is it a plane? No, it’s global minimum tax. Will your company be hit and if yes, how hard? Global minimum tax rules, aka “Pillar Two Model Rules”, are set to go into effect in 2024. Developed as part of the OECD/G20 BEPS 2.0 project, these rules will dramatically change the international tax landscape and create significant new tax reporting and compliance requirements for affected organizations, in every industry. With the clock ticking, your Finance organization needs to understand the potential impacts of these rules and develop a comprehensive technology-centered plan. Priorities to cover: adapting internal processes and systems to manage the new computations and data requirements, calculating your global minimum tax liabilities and satisfying reporting obligations. Saddle up! We’ll ask Sveinung Baumann-Larsen at EY, Erika Buson at SAP and Matthias Klein at BASF for their take on The Arrival of Minimum Taxes: A New World Order.

The Buzz 1: “Purposeful storytelling isn’t show business, it’s good business.” [Peter Guber, CEO of Mandalay Entertainment, co-owner of NBA’s Golden State Warriors and MLB’s LA Dodgers] The Buzz 2: “Good stories surprise us. They make us think and feel. They stick in our minds and help us remember ideas and concepts in a way that a PowerPoint crammed with bar graphs never can.” [Joe Lazauskas and Shane Snow, co-authors, The Storytelling Edge: How to Transform Your Business, Stop Screaming into the Void, and Make People Love You] The Buzz 3: “Storytelling is the most powerful way to put ideas into the world.” [Robert McKee, Story Mentor] These wise words about storytelling impact today’s Finance planning and analysis function, as the CFO’s team sees the value of weaving a narrative around actual events, explaining variances, and providing guidance. As the role of Finance evolves to a strategic business partner, the team needs to equip itself with the right tools to be a great storyteller. Beyond old-school spreadsheets, they need modern analytics, trusted data and actionable dashboards so they can recommend and guide their organizations to make the best business decisions. We’ll ask Brian Kalish, Pras Chatterjee and Greg Wright for their take on Enhanced Planning and Analysis: The Super-Power of Storytelling and Analytics.

The soccer great Pelé [the all-time leading goal scorer for Brazil with 77 goals in 92 games] famously and wisely observed, “No individual can win a game by himself.” Pelé’s words stand true beyond the soccer pitch. In the business world, they resonate even louder for the Finance function. To bring the entire organization together in Planning and Analysis as well as strategy, Finance needs to adopt a “business partnership” mantra. While it’s generally accepted that all lines of business in an organization will “plan”, bringing these plans together collaboratively requires financial and operational skills, technical savvy and most importantly, leadership. As a leader and a business partner, Finance can become instrumental in enhancing the Planning and Analysis function to become an xP&A group – Extended Planning and Analysis – for organizational success, especially in our financially dynamic and turbulent times. We’ll ask Anders Larsen Liu-Lindberg at The Business Partnering Institute, Pras Chatterjee at SAP, and Jeff Hattendorf at Macrospect for their take on Pele's words of wisdom as we explore The Power of Business Partnering: Enhancing Planning and Analysis.

The Buzz 1: “Sustainability is no longer a nice-to-have extra. It’s a critical piece of the puzzle for companies looking to stay ahead of the competition and protect their bottom lines.[smart.arqlite.com] The Buzz 2: “For companies focused on ESG (Environmental, Social, Governance) efforts, metrics matter…Each industry and organization will have different metrics that are material to their business.” [gobyinc.com] The Buzz 3: “Some companies report only their greenhouse gas emissions…others publish glossy reports about their CSR (corporate social responsibility) initiatives or use their ESG ratings as a badge of honor.” [hbr.org] Yes, sustainability strategy and reporting are hot topics and management priorities for organizations’ internal and external stakeholders. Why? They can tangibly impact the ability to access finance, attract talent and grow market share. The big picture: Worldwide compliance requirements are driving sustainability initiatives, but the metrics to manage and report against can vary by sector, by country, by strategy. Organizations need to not only make future commitments about sustainability metrics, but also to demonstrate their plan to maintain and improve overall corporate performance. Forward-thinking organizations see sustainability reporting as an opportunity to spearhead new opportunities, efficiencies and growth, which require performance management capability and culture. Where to start? We’ll ask Michel Haesendonckx at SAP and Esteban Rastrollo at EY for their insights on Sustainability Performance Management: Business Imperative vs Wishful Thinking?

Ah, taxes! A bit of “humor” on a definitely serious topic for every enterprise: * Benjamin Franklin: “In this world, nothing is certain except death and taxes.” * Bonnie Raitt: “Solar power is the last energy resource that isn't owned yet – nobody taxes the sun yet.” * Arthur C. Clarke: “The best measure of a man's honesty isn't his income tax return. It's the zero adjust on his bathroom scale.” Ok, time to get serious. The EY 2020 Tax and Finance Operate survey reported that 51% of all respondents expected an increase to their organization’s tax risk profile from complying with emerging digital tax filing requirements, while a whopping 84% expected it to increase the workload of the tax and finance function. EY’s 2022 Tax and Finance Operations Survey found 84% of respondents are actively transforming to tackle challenges. Talent, legislative and regulatory changes, and future-proofing technology are key concerns for Tax and Finance functions. And the COVID-19 pandemic worsened some challenges, accelerating the need to transform. Reality check: With new regulatory announcements coming every month, your business needs to adapt your processes to remain sustainable and profitable. How do intelligent businesses like yours take your tax transformation as a strategic turning point for operational efficiency and seamless compliance? Stop deprioritizing – or worse, ignoring – your company’s tax function in digital business transformation initiatives. We’ll ask Erika Buson, Sveinung Baumann-Larsen and Vicky Bradford for their insights on The Digital Enterprise: Turning Taxes Into Opportunity!

The Buzz 1: “As specialized tools and technology have emerged, the role of CFO has evolved. CFOs of companies large and small need to embrace flexibility, develop global strategies, and shift their focus to look forward rather than back.” (www.teampay.co/insights/cfo-quotes/) The Buzz 2: “When you are a successful company, you have to fight really hard to make sure you avoid complacency, arrogance, bureaucracy.” (Marianne Lake, CFO of JPMorgan Chase) The Buzz 3: “The CFO needs to be supported by a strategic FP&A team that is excellent at all levels… a team that is prepared for where the company is going—not where it’s been.” (Jim Johnson, Former CFO of Adaptive Insights) Amid globally turbulent times, today’s Financial Planning and Analysis (FP&A) function is striving to spend less of its time “Planning” and more time delivering value-added “Analysis” to its business constituents. How? Finance and its IT support teams need to focus on the future, utilizing the available modern tools – Artificial Intelligence, Machine Learning, Analytics and Collaboration. Similar to the automotive industry working to deliver safe, self-driving vehicles, FP&A needs to “feel the need, the need for speed” [quoting Lt. Pete ‘Maverick’ Mitchell in the Top Gun films] to drive automated or, even better, autonomous planning. What steps can your FP&A team take to harness technology today in order to optimize their time delivering the best possible analysis to your organization tomorrow? We’ll ask Finance professionals Paul Davis at Analysis Prime, Colin Chu at SAP and Nilly Essaides at NeuGroup for their take on Driving The Emphasis on Analysis for Finance: Focus on Automation.

The Buzz 1: In his 2007 book “The Black Swan: The Impact of the Highly Improbable”, author and former options trader Nassim Nicholas Taleb focuses on the extreme impact of rare and unpredictable outlier events—and the human tendency to find simplistic explanations for these events, retrospectively. He calls this the Black Swan theory. The Buzz 2: “If you ever do have to heed a forecast, keep in mind that its accuracy degrades rapidly as you extend it through time.” The Buzz 3: “We see the obvious and visible consequences, not the invisible and less obvious ones. Yet those unseen consequences…generally are more meaningful.” Gone are the days when, as a whole, Planning & Analysis for the office of the CFO and the enterprise could be ‘just OK.’ With black swan events becoming the norm, requiring guidance and scenario modeling, FP&A can no longer wait on gathering data from convoluted spreadsheets and uncollaborative business units. Yes, the pressure is on the CFO to deliver highly credible plans and ever better analysis. But how? The answer: Modern planning processes and tools – adopting extended planning and analysis, analytics and visualization, and machine learning – will help you transform your company’s Finance function from good to great. We’ll ask Jon Essig at SimpleFi Solutions, Chris Ortega at Fresh FP&A, and Floyd Conrad at SAP for their take on The Black Swan vs Transforming Your FP&A from Good to Great!

The Buzz 1: “Tasked with guiding the growth of companies, building digital organizations, and transforming the finance function, CFOs must first identify their objectives and then decide whether they will lead with people, process, or performance.” (HBR Executive Brief: The CFO Agenda: Transforming the Finance Function) The Buzz 2: “CFOs say that their time on transformations would be best spent on role-modeling new mindsets and behaviors, setting high-level goals, and communicating the transformation’s results—when, in practice, they are most often charged with traditional finance-oriented responsibilities.” (McKinsey: Mastering change: The new CFO mandate) The Buzz 3: “Behavioral competencies are key to the business partnership role—a ‘seat at the table’ must be earned. A CFO needs to be a visible leader in the business, an excellent communicator, and an influencer.” (Paul Ainsworth – www.toptal.com/) Modern Planning & Analysis transformation offers many benefits to the organizations that embrace it. Top-line benefits include extending planning across business units and LOB’s, connecting real time with ERP, and adopting predictive planning as a standard part of the process. Good news: Powerful technology is available to help planners and the office of the CFO change processes to meet their enterprise-wide goals. Sounds great, just do it! But is technology the best, most effective way to begin? Reality check: Adopting a modern extended planning and analysis process goes beyond merely adopting and adapting new technology. It needs to include – and begin with – a significant process transformation led by Finance. We’ll ask Pras Chatterjee at SAP, Brian Kalish at Kalish Consulting and David Dixon at IBM for their take on Aligning with Planning & Analysis Transformation: Process Changes.

The Buzz 1: In his 2007 book “The Black Swan: The Impact of the Highly Improbable”, author and former options trader Nassim Nicholas Taleb focuses on the extreme impact of rare and unpredictable outlier events—and the human tendency to find simplistic explanations for these events, retrospectively. He calls this the Black Swan theory. The Buzz 2: “If you ever do have to heed a forecast, keep in mind that its accuracy degrades rapidly as you extend it through time.” The Buzz 3: “We see the obvious and visible consequences, not the invisible and less obvious ones. Yet those unseen consequences…generally are more meaningful.” Gone are the days when, as a whole, Planning & Analysis for the office of the CFO and the enterprise could be ‘just OK.’ With black swan events becoming the norm, requiring guidance and scenario modeling, FP&A can no longer wait on gathering data from convoluted spreadsheets and uncollaborative business units. Yes, the pressure is on the CFO to deliver highly credible plans and ever better analysis. But how? The answer: Modern planning processes and tools – adopting extended planning and analysis, analytics and visualization, and machine learning – will help you transform your company’s Finance function from good to great. We’ll ask Jon Essig at SimpleFi Solutions, Chris Ortega at Fresh FP&A, and Floyd Conrad at SAP for their take on The Black Swan vs Transforming Your FP&A from Good to Great!

The Buzz 1: CFOs often perceive cybersecurity to be the responsibility of IT, but as more finance processes run remotely, CFOs need to develop security measures specifically for the finance function and not rely solely on the organization’s blanket security protocols to safeguard financial data. (www.gartner.com) The Buzz 2: Finance leaders in the midst of leading or co-leading a broader transformation initiative (42% of CFOs, per Deloitte’s CFO Signals™ survey for Q2-2021), may want to make modernizing their security model part of that effort. (deloitte.wsj.com) The Buzz 3: CFOs and their teams are the gatekeepers for the critical data required to generate forecasts and support senior leaders’ strategic plans and decisions…At the top of the four areas of technology that show the most promise for use in finance: automation and robotics to improve processes in finance.” (www.mckinsey.com) Yes, organizations must find ways to thrive in today’s disruptive business environment, with its shifting geo-political and financial landscapes, the momentum to digitize and automate, and increasing cybersecurity threats. How? Focus more on internal controls over most business processes as well as corporate resilience in financial and cybersecurity domains. Cybersecurity attacks not only affect normal business operations but add ambiguity to the reliability of financial statements. Stakeholders are under pressure from due diligence requirements to gain more reliable views of organizational risk, resilience, accountability and transparency. To ensure quarterly and annual reports accurately reflect financial status and to bolster cybersecurity protection, they are automating process controls as part of a financial transformation. We’ll ask Dr. Neil Patrick at SAP, Mithilesh Kotwal at Protiviti and Tony Robey at Wipro for their insights on Cyber Resilience and Control Automation for Finance.

The Buzz 1: We’ve all heard these 'old saws' and know they're true: “A goal without a plan is just a wish.” “By failing to prepare, you are preparing to fail.” “Plan your work and work your plan.” The Buzz 2: “We don’t hand aircraft pilots 50 pages of Excel reports after they’ve landed the plane, telling them they went to the wrong airport or they ran out of fuel. They have real-time insight into the external environment and the aircraft operations.…It’s essential for FP&A and performance management to be viewed holistically like that…We should be helping to successfully land the aircraft.” (Jack Alexander, author: Financial Planning and Analysis and Business Performance Management) The Buzz 3: “Gartner coined the term 'xP&A' in 2020, but…Expanding FP&A beyond finance has been a best practice for several years – referred to by many names: connected planning, collaborative enterprise planning, integrated business planning, and company-wide planning….” (https://insights.sap.com/what-is-xpa) Better planning leads to better results, especially for the CFO's Finance team. But is “better” good enough in our era of perpetual business change and turmoil? Finance experts agree that more is needed to optimize Finance’s performance and value to the organization. How? The Financial P&A profession needs to evolve to Extended Planning and Analysis 'xP&A' to strengthen cross-business collaboration, create aligned plans, and rapidly transition from gaining enterprise-wide insights to taking action. This requires not just the latest technology, but an overhaul of processes to align operational and financial planning with strategic goals. We’ll ask Pras Chatterjee at SAP, Bryan Lapidus at the Association for Financial Professionals, and Jeff Hattendorf at Macrospect for their insights on the Extended P&A Mindset: Time to Align on Strategic Goals.

The Buzz 1: We’ve all heard these 'old saws' and know they're true: “A goal without a plan is just a wish.” “By failing to prepare, you are preparing to fail.” “Plan your work and work your plan.” The Buzz 2: “We don’t hand aircraft pilots 50 pages of Excel reports after they’ve landed the plane, telling them they went to the wrong airport or they ran out of fuel. They have real-time insight into the external environment and the aircraft operations.…It’s essential for FP&A and performance management to be viewed holistically like that…We should be helping to successfully land the aircraft.” (Jack Alexander, author: Financial Planning and Analysis and Business Performance Management) The Buzz 3: “Gartner coined the term 'xP&A' in 2020, but…Expanding FP&A beyond finance has been a best practice for several years – referred to by many names: connected planning, collaborative enterprise planning, integrated business planning, and company-wide planning….” (https://insights.sap.com/what-is-xpa) Better planning leads to better results, especially for the CFO's Finance team. But is “better” good enough in our era of perpetual business change and turmoil? Finance experts agree that more is needed to optimize Finance’s performance and value to the organization. How? The Financial P&A profession needs to evolve to Extended Planning and Analysis 'xP&A' to strengthen cross-business collaboration, create aligned plans, and rapidly transition from gaining enterprise-wide insights to taking action. This requires not just the latest technology, but an overhaul of processes to align operational and financial planning with strategic goals. We’ll ask Pras Chatterjee at SAP, Bryan Lapidus at the Association for Financial Professionals, and Jeff Hattendorf at Macrospect for their insights on the Extended P&A Mindset: Time to Align on Strategic Goals.

The Buzz: Michael E. Porter at Harvard Business School introduced the concept of a value chain in his book, Competitive Advantage: Creating and Sustaining Superior Performance [2008]. Competitive advantage cannot be understood by looking at a firm as a whole. It stems from the many discrete activities a firm performs in designing, producing, marketing, delivering, and supporting its product.” He adds that it's important to maximize value at each specific point in a firm's processes. Finance organizations have increasingly evolved from backward-looking reporting to analyzing information in real-time, both from a financial accounting standpoint as well as management accounting. Taking this a step further, finance is actively engaging in advising other parts of the business based on predictive modeling. Logistical processes – ranging from procurement, supply chain, sales and customer experience, to even human resources – are all reflected in finance, providing a holistic view of an organization. Finance then has the opportunity to leverage this information to evaluate the financial impact of strategic decisions and advise their counterparts in all lines of business across an organization. We’ll ask SAP’s Birgit Starmanns, Accenture’s Rob Campanile and Ventana Research’s Robert Kugel for their take on Finance and Its Focus on Integration into the Value Chain.

The Buzz: “Data is now more valuable than oil” a popular business sentiment. * In 2006, British mathematician and Tesco marketing mastermind Clive Humby shouted from the rooftops, “Data is the new oil.” * Now “Data Isn't The New Oil — Time Is”. (Michael Kershner, founder of ILC) * Oil has reigned for centuries as one of society’s most valuable resources…But in today’s 'data economy,' it can be argued that data, due to the insight and knowledge that can be extracted from it, is potentially more valuable. (Therese Fauerbach, CEO, The Northridge Group) While this metaphor can be further debated, the power and abundance of data in its various forms hold a special place within the enterprise and especially within the Office of Finance. But how the Financial Planning and Analysis [FP&A] function leverages operational and financial data in their day-to-day activities often remains a mystery. With systems that connect data in a meaningful manner, what can Finance to do change processes and make impactful decisions to become a much more data driven function that better helps their business constituents and ultimately increases shareholder value? We’ll ask Brian Kalish at Kalish Consulting, Jeff Hattendorf at Macrospect, and Pras Chatterjee at SAP for their take on The Road to Finance Prosperity: Powered by Data.

The Buzz: Michael E. Porter at Harvard Business School introduced the concept of a value chain in his book, Competitive Advantage: Creating and Sustaining Superior Performance [2008]. Competitive advantage cannot be understood by looking at a firm as a whole. It stems from the many discrete activities a firm performs in designing, producing, marketing, delivering, and supporting its product.” He adds that it's important to maximize value at each specific point in a firm's processes. Finance organizations have increasingly evolved from backward-looking reporting to analyzing information in real-time, both from a financial accounting standpoint as well as management accounting. Taking this a step further, finance is actively engaging in advising other parts of the business based on predictive modeling. Logistical processes – ranging from procurement, supply chain, sales and customer experience, to even human resources – are all reflected in finance, providing a holistic view of an organization. Finance then has the opportunity to leverage this information to evaluate the financial impact of strategic decisions and advise their counterparts in all lines of business across an organization. We’ll ask SAP’s Birgit Starmanns, Accenture’s Rob Campanile and Ventana Research’s Robert Kugel for their take on Finance and Its Focus on Integration into the Value Chain.

The Buzz: The CFO role has expanded beyond financial duties to encompass strategic responsibilities across the company. After closing the books 12 months ago on the extraordinary year that was 2020, which threw unprecedented challenges across mostly unprepared industries and businesses worldwide, we began 2021 with high hopes for the start of a recovery, with the office of Finance having a central role. Reality check: This optimism was tempered, with CFOs facing some of their toughest tests this year. Today, with just 17 days before the dawning of 2022, we look in our rearview mirror at how 2021 has highlighted areas of concern in the agility and responsiveness of Finance systems. For many organizations, investments in systems that offered greater flexibility, agility and the resilience to cope with future challenges became paramount. Along with this, the pressing need to combat cyberattack threats and address information privacy concerns led to an increasing focus on risk management and the prevention and mitigation of breaches. Today, three Finance experts share their POV on the Finance and Risk news headlines that illustrate the key themes and events that shaped business in 2021 – and the implications for the pandemic recovery and the future of Finance. We’ll ask Nilly Essaide at NeuGroup, Pras Chatterjee at SAP, and Grant Small at Legion Star for their take on Finance Ripped from the Headlines: A 2021 Finance and Risk Retrospective.

The Buzz 1: “Change management is a critical skill in today’s c-suite… Change management is a challenge for every organization.” (Dave Sutton, toprightpartners.com) The Buzz 2: “Slowness to change usually means fear of the new.” (Philip Crosby, 1926–2001, aka “The Fun Uncle of the Quality Revolution”, author: Quality Without Tears and Quality is Free) The Buzz 3: “Change before you have to.” (Jack Welch, former GE CEO, named “Manager of the Century” by Fortune magazine) The Buzz 4: “People don’t resist change. They resist being changed!” (Peter Senge, organizational learning expert, author: The Fifth Discipline) As finance and risk teams embrace technology more quickly than they did in the past, change management has never been more crucial to facilitate efficient adoption and effective implementation. With more organizations moving towards modern technologies for Finance – including automation and artificial intelligence (AI) – there is often resistance to change as well as fear of being “replaced” by computers. As business conditions and business models change, finance and risk teams need to transform their own organizations to take advantage of technology advancements – while ensuring the human element remains at the center of their strategic decisions. For these reasons and more, change management needs to focus on best practices and comprehensive organizational planning for change, from executive buy-in on changes in technology and business processes, to the communication of the what, the when, and the why of a change. We’ll ask Birgit Starmanns at SAP, Jason Roling at Delaware Consulting and Ross Wilson at Accenture for their take on Enabling Intelligent Finance Transformation with Change Management.