Upgrade Finance Effectiveness - Drive Business Performance

Most likely, the world won’t be the same after the crisis. But change represents also an opportunity – for those companies that are able to act and adapt in time. Change leaders first and foremost focus on improving business effectiveness, i.e. customer value add and thus, competive advantage. How the CFO and Finance can support the business on this journey by upgrading Finance effectiveness that helps to drive business performance was the topic of two recent European SAP events for CFOs and controllers that Juergen H. Daum has conceived and moderated.

Finance transformation 3-phase model by J.H. Daum

CFOs agree that finance excellence requires not only efficient finance operations (often measured as ‘Finance cost as a percent of revenue’) but as well finance effectiveness, which ultimately means the ability to help to drive business performance and to help to prepare the company for a successful future. And making progress in finance effectiveness may have become more urgent now.

The biggest economic crisis since the Great Depression is changing the economic order – of the global economy and of many industries. Most likely, the world won’t be the same after the crisis. The ‘new normal’ will bring us probably lower economic growth rates, more pressure on prices and margins, changing consumer and customer buying patterns, consolidation of industries, more regulation, and more difficulties in assuring the financing of the enterprise – just to name a few of the expected changes.

But change represents also an opportunity – for those companies that are able to act and adapt in time. Therefore it’s time now to look ahead, beyond the near-term survival agenda of the past year, and to start shaping the future of the enterprise in a changing world.

And the CFO and finance have to be prepared to help to drive the transformation of the business. Efficient finance operations that are providing basic high quality financial services to the business and that ensure compliance and good governance are a solid foundation. But what it really takes to thrive and win in the ‘new normal’ is a shift in finance effectiveness: towards the role of a true business partner and co-pilot that helps to innovate and to drive business performance and competitiveness in a time of uncertainty and change.

Under the theme "Upgrade Finance Effectiveness - Drive Business Performance", Juergen H. Daum moderated recently two SAP events for Finance executives in Europe, of which he was in charge of topic selection, conception and event programming:

SAP's 12th European CFO Roundtable, 3-4 December 2009 in Bruges/Belgium, including his traditional "Food for Thought Presentation" on the theme of the event on day 2 and a panel discussion with:
- Sten Daugaard,CFO and member of Corporate Management, LEGO Group, Billund/Denmark
- Mag. Dr. Wolfgang Henle,VP Opportunity and Risk Management, Austrian Airlines Group, Vienna/Austria
- Vince Nicoletti, Chief Financial Officer of Commercial Operations of BHP Billiton, The Hague/Netherlands

SAP's 18th Finance Best Practice Workshop for Controllers and Senior Finance Professionals on 4-5 February in Barcelona/Spain - including a presentation track and disucussion round on "Upgrading Enterprise Performance Management"

Program and agenda of the 12th SAP European CFO Roundtable

Agenda of the 18th SAP Finance Best Practice Workshop

J.H. Daum's presentation "Upgrade Finance Effectiveness - Drive Business Performance" (pdf)

J.H. Daum's presentation"Upgrade Enterprise Performance Management Effectiveness" (pdf)