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Top 50 #Financial Twitter Influencers

Jen Cohen Crompton

We are aimed at becoming an authority on business innovation and want to help you identify the top influencers so you can follow the latest trends, news and opinions of these influencers in the field of Finance.

We’ve already published some great lists of Twiter influencers in big data, cloud computing, analytics, enterprise mobility, and human resources, and here is the next list – the Top 50 Financial Influencers on Twitter.

Note: Financial Twitter influencers were determined based on tweeted topics, influence as measured by Klout, number of followers, and number of tweets. Below are the “top” influencers at this time based on the combination of factors.

@WSJnumbersguy -The Numbers Guy/ @CarlBialik

Carl Bialik examines the way numbers are used, and abused. – New York, NY – http://blogs.wsj.com/numbersguy/

@CNNMoney – The world’s leading business and finance website and the online home to @fortunemagazine and @money magazine. – http://money.cnn.com/

@moneymorning – Money Morning
Money moves the markets; Money Morning lets you move first. – Baltimore, Maryland, USA – http://moneymorning.com/

@karldeeter – Karl Deeter
Financial adviser/analyst, at Irish Mortgage Brokers & Advisors. ie in Dublin. Blogger, commentator, Sun on Sunday, Columnist & flatpicker. – Dublin, Ireland – http://www.mortgagebrokers.ie/blog/

@IreneAldridge – Irene Aldridge
World expert on high-frequency trading, author, fund manager, public speaker. – http://www.ablealpha.com/aa/index.php?option=com_content&view=article&id=156

@AAAMPblog – AAAMP Blog
The goal of the AAAMP Blog is to empower people to manage their own money. Find out more about me personally @kenfaulkenberry.- The Woodlands, TX – http://blog.arborinvestmentplanner.com/

@AwesomeFinance – Chris Smith
A man on a mission- to raise the personal finance IQs of young adults everywhere! – Seattle, WA – http://awesomefinancialfuture.com/

@ColinTWilliams – Colin Williams
Building opportunities for finance professionals and their clients through the Web and Social Media – Australia – http://www.humblefinancialservices.com/

@CoryRIchards – Cory Richards
Full time author and financial trader. I write non fiction and fiction. In between chapters I trade financial futures contracts. – La Quinta, CA – http://www.authorcoryrichards.com/

@Nouriel – Nouriel Roubini
Professor at Stern School, NYU, Chairman of Roubini Global Economics (www.roubini.com), blog at www.economonitor.com/nouriel/ , co-author of Crisis Economics – New York – http://www.roubini.com/

@TimHartford – Tim Harford
Author of Adapt; Undercover Economist at the FT; presenter of More or Less, Radio 4. (Email v/website is the best for important messages.) Views my own, of course. – Oxford – http://www.investopedia.com/articles/economics/11/difference-between-finance-and-economics.asp#axzz28G6ThBsi

@Finance_Wire – Finance Wire
The latest on Financial Stock and ETFs. – http://financewire.net/

@BenChu_ – Ben Chu
Economics Editor of The Independent. Views my own. – London, England – http://blogs.independent.co.uk/author/benchu/

@Lagarde – Christine Lagarde
Managing Director of the International Monetary Fund (IMF). Also follow @imfnews. Washington, DC – http://www.imf.org/external/index.htm

@alessiorastani– Alessio Rastani
Experienced Stock Market and Forex trader. Keynote speaker on share trading. Mentor and dedicated to helping others succeed. – London, UK – http://www.facebook.com/alessiorastani

@Big4.com – For Big Four Alumni & Pros- Accenture, Andersen, BearingPoint, Capgemini, Deloitte, E&Y, KPMG, PwC – New York, NY, USA – http://www.big4.com/

@finplan – Financial Planning
Financial Planning magazine and its associated brands are dedicated to the needs of the independent financial planner. – http://www.financial-planning.com/

@susanweiner – Susan Weiner, CFA
Writer-editor and chartered financial analyst (CFA) who helps financial professionals increase the impact of their writing on clients and prospects. – http://investmentwriting.com/blog/

@loral – Loral Langemeier
Best Selling Author, International Speaker, Money Expert – Zephyr Cove, Nevada – http://liveoutloud.com/

@MarketWatch -MarketWatch
Tracking the pulse of the markets. Get business news, personal finance information and real-time commentary from MarketWatch. – San Francisco, CA – http://www.marketwatch.com/

@LewisFinancial – Bill Lewis
Com’l RE Sales/Finance since 1969. Specialize in Sr. Facilities, Apts, Office, Industrial, Bank Direct Assets. Kids (father of six), dogs, cabernet since… – Santa Cruz, CA – http://www.lewisfinancialwest.net/

@FinancialTimes – Financial Times
All the big stories on FT.com and updates from our news editors. Register  http://on.ft.com/socialregs to gain free access to up to eight FT articles per month  – London, UK – http://www.ft.com/home/us

@daily_finance – DailyFinance
DailyFinance helps its readers navigate through perilous economic times and make better decisions about their financial futures. Feed curated by @harrykeffron. – United States – http://www.dailyfinance.com/

@Wealthfront – Wealthfront
Online Financial Advisor to the Tech Community – Silicon Valley – https://www.wealthfront.com/

@allanschoenberg – Allan Schoenberg
Exec Dir of Corp Comm at @cmegroup; husband/father; B2B; Arsenal; F1; economics/tech geek; write at @b2bvoices; living in London from Chicago

@MoneyNing – David Ning
Personal finance blogger helping individuals reach their retirement and financial freedom goals. – Irvine, CA – http://moneyning.com/

@MichaelKitces – Michael Kitces
One nerd’s perspective on the financial planning world… Publisher of The Kitces Report and the blog Nerd’s Eye View at www.kitces.com. – http://www.kitces.com/contact.php

@EconomyUS – US Economy
US Economy News, Headlines, and Happenings, updated throughout the day, 24/7 – US, the hub of world economy

@qfinance_ – QFINANCE
The Ultimate Financial Resource. A collaboration of more than 300 of the world’s leading practitioners and visionaries in finance and financial management. – UK – http://www.qfinance.com/home

@Investopedia – Investopedia
We believe individuals can excel at managing their financial affairs. We strive to provide free educational content and tools to empower individual investors. –  http://www.investopedia.com

@CBSMoneyWatch – CBS MoneyWatch
Personal finance advice, analysis and financial planning – New York, NY – http://www.cbsnews.com/moneywatch/

@YahooFinance – Yahoo! Finance
Y! Finance is the #1 financial news website. 100% feed-free tweets – New York, NY – http://finance.yahoo.com/

@BethKobliner – Beth Kobliner
Personal finance journalist, President’s Advisory Council on Financial Capability member who helped develop #MoneyAsYouGrow, and author of Get a Financial Life. – New York, NY – http://www.bethkobliner.com/

@CNBCnow – What’s Trending / CNBC
CNBC is the recognized world leader in business news, providing real-time financial market coverage & business information. Follow for what’s trending. – Worldwide – http://www.cnbc.com/

@tim – Tim Bradshaw
Tech & internet reporter @financialtimes. Recent transplant from London to SF. Views = mine, not FT’s. Retweets ≠ endorsements. tim.bradshaw@ft.com. San Francisco, CA – http://www.timbradshaw.net

@deborahgage – Deborah Gage
Reporter, Dow Jones VentureWire and wsj.com, covering tech and start-ups from Silicon Valley. – San Jose, CA – http://blogs.wsj.com/venturecapital/?mod=tech

@Xconomy – Xconomy
Xconomy is the leading source for news about technology, innovation, and entrepreneurship in Boston, Detroit, New York, San Diego, San Francisco, and Seattle. – United States – http://www.xconomy.com/

@KarleneSinRob – Karlene S. Robinson
Small Business & Alternative Financing Expert; Motivator; Author; New Book Coming Soon… Reach for your DREAMS! They do come true! – Washington, DC Metro Area – http://www.smallbusinessfundingguide.com/

@FinanceFeed – Financial News
Financial news direct to you via Tweet. Business credit, personal finance, business loans, factoring & more. – Southern California – http://www.business-financing.net/

@SunFinancial – Suns Financial Diary
An electrical engineer happens to have the passion in personal finance. – Northern Virginia – http://www.thesunsfinancialdiary.com/

@NASBA_talks – NASBA
News, updates and important information for state boards, CPAs and other financial service professionals. – http://NASBA.org

@cfopub – CFO.com
News and Insight for Financial Executives. Offering CFO Magazine, Webcasts, White Papers, Research, and Conferences. Accounting, Finance and more. – Boston, MA & New York, NY – http://www.cfo.com

@davidkwaltz – David K. Waltz
Fortune 500 Financial Officer exploring strategy and finance excellence.. Author of Treasury Cafe blog. – Chicago – http://treasurycafe.blogspot.com/

@EarningsReports – Earnings Reports
Your source for the latest news on Corporate Earnings, Corporate Dividends and Corporate Stock Buy Backs. – ·http://www.earnings-reports.com/

@TheStreet – The Street
Get the latest business, consumer and financial news. @kavehkm leads the charge. Send your feedback to @thestreet. We want to hear from you! – New York, NY – http://www.thestreet.com/

@NYSEEuronext – (NYX) NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. – Global – https://nyse.nyx.com/

@mint – Mint.com
The free way to see all your finances in one place—from any place. Set a budget, track your goals and do more with your money, for free! – Mountain View, California – https://www.mint.com/

@calculatedrisk – Bill McBride
Author of Calculated Risk – United States – http://www.calculatedriskblog.com/

@retheauditors – Francine McKenna
Using tools instead of tools using me. Journalist/Speaker/CPA. Encantada de todo de America Latina. Accounting Watchdog @forbes Accountable @amerbanker Chicago – http://retheauditors.com/

@ryanavent – Ryan Avent
Economics correspondent for The Economist – Washington, DC – http://www.ryanavent.com/blog/

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About Jen Cohen Crompton

Jen Cohen Crompton is a SAP Blogging Correspondent reporting on big data, cloud computing, enterprise mobility, analytics, sports and tech, and anything else innovation-related. When she's not blogging, she can be caught marketing, using social media and/or presenting at conferences around the world. Disclosure: Jen is being compensated by SAP to produce a series of articles on the innovation topics covered on this site. The opinions reflected here are her own.

Why 3D Printed Food Just Transformed Your Supply Chain

Hans Thalbauer

Numerous sectors are experimenting with 3D printing, which has the potential to disrupt many markets. One that’s already making progress is the food industry.

The U.S. Army hopes to use 3D printers to customize food for each soldier. NASA is exploring 3D printing of food in space. The technology could eventually even end hunger around the world.

What does that have to do with your supply chain? Quite a bit — because 3D printing does more than just revolutionize the production process. It also requires a complete realignment of the supply chain.

And the way 3D printing transforms the supply chain holds lessons for how organizations must reinvent themselves in the new era of the extended supply chain.

Supply chain spaghetti junction

The extended supply chain replaces the old linear chain with not just a network, but a network of networks. The need for this network of networks is being driven by four key factors: individualized products, the sharing economy, resource scarcity, and customer-centricity.

To understand these forces, imagine you operate a large restaurant chain, and you’re struggling to differentiate yourself against tough competition. You’ve decided you can stand out by delivering customized entrees. In fact, you’re going to leverage 3D printing to offer personalized pasta.

With 3D printing technology, you can make one-off pasta dishes on the fly. You can give customers a choice of ingredients (gluten-free!), flavors (salted caramel!), and shapes (Leaning Towers of Pisa!). You can offer the personalized pasta in your restaurants, in supermarkets, and on your ecommerce website.

You may think this initiative simply requires you to transform production. But that’s just the beginning. You also need to re-architect research and development, demand signals, asset management, logistics, partner management, and more.

First, you need to develop the matrix of ingredients, flavors, and shapes you’ll offer. As part of that effort, you’ll have to consider health and safety regulations.

Then, you need to shift some of your manufacturing directly into your kitchens. That will also affect packaging requirements. Logistics will change as well, because instead of full truckloads, you’ll be delivering more frequently, with more variety, and in smaller quantities.

Next, you need to perfect demand signals to anticipate which pasta variations in which quantities will come through which channels. You need to manage supply signals source more kinds of raw materials in closer to real time.

Last, the source of your signals will change. Some will continue to come from point of sale. But others, such as supplies replenishment and asset maintenance, can come direct from your 3D printers.

Four key ingredients of the extended supply chain

As with our pasta scenario, the drivers of the extended supply chain require transformation across business models and business processes. First, growing demand for individualized products calls for the same shifts in R&D, asset management, logistics, and more that 3D printed pasta requires.

Second, as with the personalized entrees, the sharing economy integrates a network of partners, from suppliers to equipment makers to outsourced manufacturing, all electronically and transparently interconnected, in real time and all the time.

Third, resource scarcity involves pressures not just on raw materials but also on full-time and contingent labor, with the necessary skills and flexibility to support new business models and processes.

And finally, for personalized pasta sellers and for your own business, it all comes down to customer-centricity. To compete in today’s business environment and to meet current and future customer expectations, all your operations must increasingly revolve around rapidly comprehending and responding to customer demand.

Want to learn more? Check out my recent video on digitalizing the extended supply chain.

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Hans Thalbauer

About Hans Thalbauer

Hans Thalbauer is the Senior Vice President, Extended Supply Chain, at SAP. He is responsible for the strategic direction and the Go-To-Market of solutions for Supply Chain, Logistics, Engineering/R&D, Manufacturing, Asset Management and Sustainability at SAP.

How to Create a Culture of Continuous Learning

Polly Traylor

The digital age has transformed every aspect of corporate processes, and corporate learning is no exception. We have mobile apps, social media, and online courses to help us achieve just-in-time learning when we identify a gap in knowledge at work or in our personal lives. Companies everywhere face the challenge of training and reskilling their workforces to keep pace with technological change, business disruption, and global competition.

Yet the traditional approach to learning, accomplished through classroom training, has been transitioning quickly to more cost-effective and real-time learning methods. This transition is crucial in enabling employees to learn new technologies at the rapid pace that vendors deliver them by, along with associated skills, such as data analysis.

Additionally, Millennials, the largest workforce demographic today, are demanding new methods for learning that center on social collaboration, video, and mobile apps. Corporate learning departments are determining how and where to blend face-to-face learning with digital learning methods.

Our experts discuss the trends and challenges ahead.

SAP_Learning-Isbell_QA_images2400x1600_1

qa_qHow is the digital world affecting corporate learning today?

Elliott Masie: We’ve seen a huge spike in the use of tracked online learning. Depending on the industry, as much as 70% of learning is now driven by compliance or regulatory experiences and as much as 90% of that is delivered digitally, either to a mobile phone or a desktop or through a live Webinar. If it’s skill building, such as how to delegate in a positive way as a leader, you’ll want a blended model where some content is delivered face-to-face. When you don’t have digital learning, the irony is you have a limited supply of learning and the supply goes to the people who need it the least – those who are really enthusiastic and proactive. Once you add a digital component to learning, the supply becomes limitless, available to talent across the organization.

Karie Willyerd: My daughter wanted to apply to the Centers for Disease Control for an internship, which required statistics knowledge. So she went to Khan Academy, took a few modules, and passed the test. It’s the idea that you can instantly get the training you need. I think the softer skills, such as leadership skills, will still require a classroom. But companies are getting increasingly virtual. There will be a very limited percentage of training that is done live in the future.

Bernd Welz: The general shelf life of knowledge is shortening with the increasing pace of digital transformation, so companies need a strategy to push knowledge and make sure that knowledge is always fresh. That’s where the digital learning platforms come into play. A manager will be able to say, ”Here’s a piece of knowledge that you really need.” With the learning management platform the manager can then very effectively dispatch the course to the employee and check later to see whether the learning was completed. Learning is much more real time and proactive.

qa_q

Digital learning often consists of short snippets of content, with a video or social element, rather than longer courses that take place over a day or two. Is there a danger to fly-by-night learning?

Jim Carroll: There’s always a phrase I use with Millennials, whether it’s about video games, how they ingest knowledge, or how they play sports: it’s not bad, it’s just different. The older generations tend to retain their values and understanding of what education is, but this generation has grown up in an entirely different world. Millennials think differently about what the world is and where they can get knowledge.

Willyerd: We need to connect with other people in our learning. In one of the studies we did for my book The 2020 Workplace, people said they don’t really like e-learning. We have to come up with ways to make e-learning more sociable.

qa_q

How can companies create an effective learning culture as they transform their learning organizations to digital and just-in-time learning?

SAP_Learning-Isbell_QA_images2400x1600_2Masie: Southwest Airlines has recognized that learning is continuous. Its goal is to launch its learning program and then include follow-ups and touchbacks for the learners rather than just teach in traditional classes.

Emirates, too, has figured out that digital is where the bulk of learning takes place. It has a culture of continuous learning whereby managers regularly talk to the people about what they’re learning or bump them to new or better learning activities or resources.

Carroll: Organizations are realizing that they need to deliver knowledge where it wasn’t required before, and the time they have to do it in is compressed. Organizations used to plan a year out for the changes that were going to occur in their industry. But business is speeding up to such a degree that all of a sudden we have to get ready now, because the change is going to have a big impact on us in the next three months.

qa_q

Are corporations doing enough to invest in learning transformation?

SAP_Learning-Isbell_QA_images2400x1600_3Willyerd: Eventually, people are going to realize ”Wow, we’ve got a real reskilling thing to do here!” When you look at how much the United States puts into training as a percentage of overall revenue, I think we are in 25th place or something ridiculous like that. But how did Korea go from where it was to being such a powerhouse? The government subsidized half of all training budgets for companies. I don’t think we’re going to go that far, but I can see it being a tax deduction or a tax incentive.

I know of a large hotel chain that implemented an online social collaboration space and began to use it for innovation ideas. It got people together from different brands who could share what they were doing. Before the collaboration space, the hotel chain didn’t have a way to do this effectively; now it can foster cross-brand innovation. Corporate leaders need to understand that learning does have a bottom-line benefit when there’s the right kind of investment in it.

Welz: In many industries, companies need to transform themselves, and knowledge is the key ingredient of a successful transformation. You need to know what the state of the art is, and you can only do that if you have a systematic approach to learning. You can’t just leave it to up to the employees hoping that they will read the right books or find the right training course on their own. The transformation is much less stressful if you can assure employees that they will get the knowledge they need to be successful.

Polly Traylor is a freelance writer who reports frequently about business and technology.

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About Polly Traylor

Polly S. Traylor writes about business, technology and healthcare from Denver, Colorado.

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The Future Of Supplier Collaboration: 9 Things CPOs Want Their Managers To Know Now

Sundar Kamak

As a sourcing or procurement manager, you may think there’s nothing new about supplier collaboration. Your chief procurement officer (CPO) most likely disagrees.
Forward-thinking CPOs acknowledge the benefit of supplier partnerships. They not only value collaboration, but require a revolution in how their buying organization conducts its business and operations. “Procurement must start looking to suppliers for inspiration and new capability, stop prescribing specifications and start tapping into the expertise of suppliers,” writes David Rae in Procurement Leaders. The CEO expects it of your CPO, and your CPO expects it of you. For sourcing managers, this can be a lot of pressure.

Here are nine things your CPO wants you to know about how supplier collaboration is changing – and why it matters to your company’s future and your own future.

1. The need for supplier collaboration in procurement is greater than ever

Over half (65%) of procurement practitioners say procurement at their company is becoming more collaborative with suppliers, according to The Future of Procurement, Making Collaboration Pay Off, by Oxford Economics. Why? Because the pace of business has increased exponentially, and businesses must be able to respond to new market demands with agility and innovation. In this climate, buyers are relying on suppliers more than ever before. And buyers aren’t collaborating with suppliers merely as providers of materials and goods, but as strategic partners that can help create products that are competitive differentiators.

Supplier collaboration itself isn’t new. What’s new is that it’s taken on a much greater urgency and importance.

2. You’re probably not realizing the full collective power of your supplier relationships

Supplier collaboration has always been a function of maintaining a delicate balance between demand and supply. For the most part, the primary focus of the supplier relationship is ensuring the right materials are available at the right time and location. However, sourcing managers with a narrow focus on delivery are missing out on one of the greatest advantages of forging collaborative supplier partnerships: an opportunity to drive synergies that are otherwise perceived as impossible within the confines of the business. The game-changer is when you drive those synergies with thousands, not hundreds of suppliers. Look at the Apple Store as a prime example of collaboration en masse. Without the apps, the iPhone is just another ordinary phone!

3. Collaboration comes in more than one flavor

Suppliers don’t just collaborate with you to provide a critical component or service. They also work with your engineers to help ensure costs are optimized from the buyer’s perspective as well as the supplier’s side. They may even take over the provisioning of an entire end-to-end solution. Or co-design with your R&D team through joint research and development. These forms of collaboration aren’t new, but they are becoming more common and more critical. And they are becoming more impactful, because once you start extending any of these collaboration models to more and more suppliers, your capabilities as a business increase by orders of magnitude. If one good supplier can enable your company to build its brand, expand its reach, and establish its position as a market leader – imagine what’s possible when you work collaboratively with hundreds or thousands of suppliers.

4. Keeping product sustainability top of mind pays off

Facing increasing demand for sustainable products and production, companies are relying on suppliers to answer this new market requirement.

As a sourcing manager, you may need to go outside your comfort zone to think about new, innovative ways to collaborate for achieving sustainability. Recently, I heard from an acquaintance who is a CPO of a leading services company. His organization is currently collaborating with one of the largest suppliers in the world to adhere to regulatory mandates and consumer demand for “lean and green” lightbulbs. Although this approach was interesting to me, what really struck me was his observation on how this co-innovation with the supplier is spawning cost and resource optimization and the delivery of competitive products. As reported by Andrew Winston in The Harvard Business Review, Target and Walmart partnered to launch the Personal Care Sustainability Summit last year. So even competitors are collaborating with each other and with their suppliers in the name of sustainability.

5. Co-marketing is a win-win

Look at your list of suppliers. Does anyone have a brand that is bigger than your company’s? Believe it or not, almost all of us do. So why not seize the opportunity to raise your and your supplier’s brand profile in the marketplace?

Take Intel, for example. The laptop you’re working on right now may very well have an “Intel inside” sticker on it. That’s co-marketing at work. Consistently ranked as one of the world’s top 100 most valuable brands by Millward Brown Optimor, this largest supplier of microprocessors is world-renowned for its technology and innovation. For many companies that buy supplies from Intel, the decision to co-market is a strategic approach to convey that the product is reliable and provides real value for their computing needs.

6. Suppliers get to choose their customers, too

Increased competition for high-performing suppliers is changing the way procurement operates, say 58% of procurement executives in the Oxford Economics study. Buyers have a responsibility to the supplier – and to their CEO – to be a customer of choice. When the economy is going well, you might be able to dictate the supplier’s goods and services – and sometimes even the service delivery model. When times get tough (and they can very quickly), suppliers will typically reevaluate your organization’s needs to see whether they can continue service in a fiscally responsible manner. To secure suppliers’ attention in favorable and challenging economic conditions, your organization should establish collaborative and mutually productive partnerships with them.

7. Suppliers can help simplify operations

Cost optimization will always be one of your performance metrics; however, that is only one small part of the entire puzzle. What will help your organization get noticed is leveraging the supplier relationship to innovate new and better ways of managing the product line and operating the business while balancing risk and cost optimization. Ask yourself: Which functions are no longer needed? Can they be outsourced to a supplier that can perform them better? What can be automated?

8. Suppliers have a better grasp of your sourcing categories than you do

Understand your category like never before so that your organization can realize the full potential of its supplier investments while delivering products that are consistent and of high quality. How? By leveraging the wisdom of your suppliers. To be blunt: they know more than you do. Tap into that knowledge to gain a solid understanding of the product, market category, suppliers’ capabilities, and shifting dynamics in the industry, If a buyer does not understand these areas deeply, no amount of collaboration will empower a supplier to help your company innovate as well as optimize costs and resources.

9. Remember that there’s something in it for you as well

All of us want to do strategic, impactful work. Sourcing managers with aspirations of becoming CPOs should move beyond writing contracts and pushing PO requests by building strategic procurement skill sets. For example, a working knowledge in analytics allows you to choose suppliers that can shape the market and help a product succeed – and can catch the eye of the senior leadership team.

Sundar Kamak is global vice president of solutions marketing at Ariba, an SAP company.

For more on supplier collaboration, read Making Collaboration Pay Off, part of a series on the Future of Procurement, by Oxford Economics.

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The CFO Role In 2020

Estelle Lagorce

African American businessman looking out office window --- Image by © Mark Edward Atkinson/Blend Images/CorbisThe role of the CFO is undergoing a serious transformation, and CFOs can expect their role to continue to evolve, according to a recent CFO.com article by Deloitte COO and CFO Frank Friedman.

In the futurist article, Friedman says one of the biggest factors that will contribute to the CFO’s significant change over the next five years is technology.

Digital technology is obviously expected to drive change in high-tech companies, but Friedman says it’s industries outside of the tech sectors that are of particular interest, as they struggle to understand how to grasp and harness the digital capabilities available to them.

Working with high tech in low-tech industries

Five years from now, a finance team may be defined by how well it uses technology and innovative business tools, regardless of what industry it’s in. The article outlines some examples of ways that digital technology will increasingly be used by CFOs in “non-tech” sectors:

  • Predictive analytics: CFOs in manufacturing companies can forecast results and produce revenue predictions based on customer-experience profiles and current demand, instead of comparing to previous years as most companies still do today.
  • Social media and crowdsourcing: You may not think CFOs spend a lot of time on social media or crowdsourcing sites, but these methods can actually expedite finance processes, such as month-end responsibilities of the finance organization.
  • Big Data: CFOs already have a lot of data at their fingertips, but in 2020 they will have even more. CFOs in both tech and non-tech sectors who understand how to use that data to make valuable, informed decisions, can strategically guide their company and industry in a more digitally oriented world.

To do this, Friedman says CFOs can lead the way by addressing some critical areas:

  1. Know the issues: Gather the key questions that leaders expect Big Data analytics to answer.
  1. Make data easily accessible: Collect data that is manageable and easy to access.
  1. Broaden skills: The finance team needs people with the skills to understand and strategically interpret the data available to them.

The tech-savvy CFO

The role of today’s CFO has already expanded to include strategic corporate growth advice as well as managing the bottom line. In 2020, Friedman says expectations placed on the CFO are presumed to be even greater, and CFOs will likely need a much more diverse, multidisciplinary skill set to meet those demands.

The article details several traits and skills that CFOs will need in order to keep up with the pace of digital change in their role.

  1. Digital knowledge: CFOs must be tech-savvy in order to capitalize on technical innovations that will benefit their company and their industry as a whole.
  1. Data-driven execution: CFOs will need the ability to execute company strategy and operations decisions based on data-driven insights.
  1. Regulatory compliance: Regulations continue to be more stringent globally, so CFOs will need to be proficient at working closely with regulators and compliance systems.
  1. Risk management: With the growing global economy comes increased cyber and geopolitical risks worldwide. The CFOs of 2020, especially those in large multinational organizations, will need to have the expertise to monitor and manage risk in areas that may be unforeseen today.

The future CFO’s well-rounded resume

By 2020, the CFO role will require much more than just an accounting background. According to Deloitte’s Frank Friedman, “CFOs may need to bring a much more multidisciplinary skill set to the job as well as broader career experiences, from working overseas to holding positions in sales and marketing, and even running a business unit.”

So if you’re a current or aspiring CFO, you have five years to round out your resume with the necessary skills to be ready for the digitally driven role of the CFO in 2020.

The above information is based on the CFO.com article What Will the CFO Role Look Like In 2020?” by Deloitte COO & CFO, Frank Friedman – Copyright © 2015 CFO.com.

Want to learn more about best practices for transforming your finance organization? View the SAP/Deloitte Webinar, “Reshaping the Finance Function”.

For an in-depth look at digital technology’s role in business transformation, download the SAP eBook, The Digital Economy: Reinventing the Business World.

To learn more about the business and technology factors driving digital disruption, download the SAP eBook, Digital Disruption: How Digital Technology is Transforming Our World.

To read more CFO insights from a tech industry perspective, read the Wall Street Journal article with SAP CFO Luka Mucic: Driving Insight with In-memory Technology.

Discover 7 Questions CFOs Should Ask Themselves About Cyber Security.

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Estelle Lagorce

About Estelle Lagorce

Estelle Lagorce is the Director, Global Partner Marketing, at SAP. She leads the global planning, successful implementation and business impact of integrated marketing programs with top global Strategic Partner across priority regions and countries (demand generation, thought leadership).