What Chief Finance Transformation Officers Do – And How They Can Do It

Neil Krefsky

Being in the software industry for over two decades, I’ve certainly heard my fair share of buzzwords (as I’m sure you have as well). Often these buzzwords are used to hype the latest top-of-mind topics in technology. Unfortunately, the actual execution of the topic in the real world many times falls far short of the universal exuberance related to the buzzwords. This is especially true when it comes to the topic of finance in technology.

However, some of the latest buzzwords and trends in technology are truly changing the game for many of my fellow finance professionals. What are these buzzwords? How about finance transformation and digital finance? To me, these represent the convergence of many of the latest technology innovations with the evolving role of a corporate finance organization to increase its influence and importance across the entire enterprise.

So what does all this have to do with what a chief finance transformation officer does? One the most exciting trends I’ve seen in my career in both accounting and enterprise software systems has been the fast-growing evolution of a new executive role in finance and IT, which many companies refer to as the chief finance transformation officer. This role truly represents leveraging the latest innovations in business and technology and applying them to a company’s entire finance function. The intended result is to transform the historically tactical and laggard finance organization into one of the most (if not the most) cutting-edge, strategic, efficient, and critical departments to the entire business. The transformation not only improves the finance organization’s efficiency in its traditional responsibilities, but also as a major player in driving the business decisions that take a company to the next level.

That all sounds good, but what does a successful execution of a chief finance transformation officer’s mandate look like in the real world? I encourage you to check out this new video: A Day in the Life of a Chief Finance Transformation Officer with SAP S/4HANA Finance.

You will see a fun animation of how a chief finance transformation officer uses the latest innovations in technology to help transform a finance organization into the true superhero of the company.

If you enjoy watching the two-minute video and want to know more, I recommend that you check out the nine trends shaping the finance profession in the report “Thriving in the Digital Economy: The Innovative Finance Function.”

 


Neil Krefsky

About Neil Krefsky

Neil Krefsky is a Senior Director of Product Marketing at SAP Finance LoB Solutions. He is responsible for the development and execution of the product marketing strategy for SAP's solutions for the Finance Line of Business including: SAP S/4HANA Finance, Financial Planning and Analysis, Accounting and Financial Close, Treasury and Financial Risk Management, Collaborative Finance Operations, Enterprise Risk and Compliance.