digitally-savvy cfo unleash your team’s potential · unleash your team’s potential matt...
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Digitally-Savvy CFOUnleash your team’s potential
Matt Stirrup, FCMA, CGMA
Head of Corporate FP&A,
ORACLE
Ash Noah, CPA, FCMA, CGMA
Managing Director, CGMA Learning, Education & Development
AICPA-CIMA
InformationInsight Influence Impact
NavigatorCo-pilot
Tech & AutomationTalent & Competency
Insight Influence Impact
Assembler
Analyser
Advisor
Actuator
Architect
5
Finance and business agility/digital age readiness
AICPA & CIMA
• Agile finance revealed 2017
• Developments since then:
– Cognitive computing
– New business models
– Digital divide widening
2017 2019
We need to revisit and check.
• How are agile finance functions
responding?
• Do more digitally advanced finance
functions support more digitally
advanced businesses?
Information Insight Influence Impact
Assemble
Analyse
Advise
Act/Execute
Efficiency >
operational excellence
Information >
digital intelligence
Influence >
business influence
The 3 pillars of the digitally-savvy CFO
77
The 3 pillars of the digitally-savvy CFO
Efficiency >
operational excellence
Information >
digital intelligence
Influence >
business influence
They have implemented
robotic process automation
at scale.
They prioritize the
re-engineering of legacy
finance processes.
They have driven scalable
deployment of advanced
analytics tools.
They have a clear view of
what data has the greatest
value to their organization.
They play a significant and
influential role in partnering
with other lines of
business.
They are widely
recognized by business
stakeholders for displaying
commercial acumen and
business understanding.
InformationInsight Influence Impact
Operational Excellence Business Influence
Tech & Automation
Insight Influence Impact
Assembler
Analyser
Advisor
Actuator
Architect
Digital Intelligence
O R A C L E ’ S J O U R N E Y T O
FUTURE -READY F INANCE
M AT T S T I R R U P, H E A D O F C O R P O R AT E F P & A , O R A C L E
A P R I L 2 5 , 2 0 1 9
I N N O V AT I O N$18.1 billion invested in R&D since FY2016**40,000 developers and engineers16,000 support and services specialists worldwide15 million Oracle community developers17,000 patents worldwide
S C A L EFounded in 1977$39.8 billion USD in FY2018 revenue*137,000 full-time employees 430,000 customers in 175 countriesOver $80 billion USD on >130 + acquisitions
Oracle Corporation
*non-GAAP basis; ** GAAP basis
The Complete Cloud and Next-Generation
Platform for Business
Copyright © 2019, Oracle and/or its affiliates. All rights reserved.
$40B business closes its books using Cloud Apps
OUR JOURNEY
430,000 customers
1.5B customer interactions per year
6,000 new products in 2 years – with different pricing and sales models
$40B company
122 business units
1 chart of accounts
1 way of doing things
137,000+ employees
10,000 new college grads in 5 years
340,000+ planned items
183,000 bills of material
54 inventory organizations
E R P/ E P MC X H C M S C M
Copyright © 2019, Oracle and/or its affiliates. All rights reserved.
N O W
Cloud applications
Quarterly adoption
New features and technologies in updates
Immediate feedback loop
Q U A R T E R LY U P D AT E S5 - Y E A R U P G R A D E S
2009 2014 2018 2019 2020 2021 2022 2023 …
FINANCE MUST BE FUTURE READY
B E F O R E
On-premises applications
5-year adoption cycles
Technical upgrades
Long requirements lag
Copyright © 2019, Oracle and/or its affiliates. All rights reserved.
Oracle’s Finance Vision
Gathering Data and Running Reports
Summarizing Data
Analyzing Data in the Business Context Providing
Insight
Commanding Influence
SCORE KEEPER
STRATEGIC PARTNER
13
Copyright © 2019, Oracle and/or its affiliates. All rights reserved.
Strategy
Leave legacy baggage behind
Reduce Customizations
Agile Approach Philosophy
Get your foundations right
Structure
Go after wins to build momentum
Early Wins
BE
ST
P
RA
CT
IC
ES
A D D I N G C A P A B I L I T I E S
14
Copyright © 2019, Oracle and/or its affiliates. All rights reserved.
FINANCIALS CLOUD:
Cutting Complexity of Systems & ProcessesAlways running the latest releases and best features
Business units
122
Global Chart of Accounts
1
New BI reports
2,000Faster time to close
20%
Focus on innovation and best practices, not upgrades
One way of doing things—period
Page views per day
2,000,000Projected annual
source-to-settle savings
$240M
Copyright © 2019, Oracle and/or its affiliates. All rights reserved.
2003 2008 2013 2018
Timeline Work in Progress
OFA Consolidation Excel Spread Sheets
Essbase Consolidation Excel Spread Sheets
Hyperion On PremiseExcel Spread Sheets
PBCSPlanning
OFA Cube ExcelDivisional BI Essbase Cube
Global BIiBotsData Visualization
CxOData Science
Reporting and Analysis
Manual DRM Multiple HierarchiesHierarchies
Product RevenueGeneral Ledger
GCW (ERP / CRM)Data Warehouse
Local COA GCOA / FAHChart of Accounts
Divisional Business FinanceFP&A SSC
Global Business FinanceGPOs / CoE
Organization
On-premise Partial CloudAll CloudsAutonomous
Platform
Copyright © 2019, Oracle and/or its affiliates. All rights reserved.
Automating Standard Planning & BudgetingEfficiency and Agility
260
Manual divisional planning spreadsheet solutions
eliminated
100
Hours eliminated from forecast submissions every quarter
• Automated ‘end to end’ standard planning process implemented across all orgs
• Established standard global methodology for revenue modeling and expense forecasting eliminating off line solutions, reducing errors and omissions
• Instant aggregation of corporate forecast saves time
• Forecasting at product level by region across customer support, systems, and license organizations
• Embedded reporting cube in the application allowing flexible, real time reporting of multiple plan types
EPM CLOUD: BUDGETING & FORECASTING
17
Copyright © 2019, Oracle and/or its affiliates. All rights reserved.
Delivering the Right Business Outcomes Value Generator
Multiple Excel workbooks eliminated
Faster turnaround time
95%
• Company wide driver-based model incorporates inter-dependencies of different businesses
• Simplification of very complex business into key assumptions enables sophisticated modeling
• Scenario modeling capability supports multiple iterations and what if analyses
• Global consistent model allows for consistent approach to planning
• Automated consolidation allows real-time modeling
• Standard reporting benefits allow for real-time reporting
EPM CLOUD: LONG-RANGE PLANNING
18
Copyright © 2019, Oracle and/or its affiliates. All rights reserved.
Improving Visibility into the Close Process Control and Insight
Man hours saved per quarter
570
Creation of one automated standard dashboard for all businesses
1
19
Copyright © 2019, Oracle and/or its affiliates. All rights reserved.
What We Learned
E S T A B L I S HE A R L Y W I N S
E M B R A C E A G I L I T Y A S A T O O L
I N V O L V E T H E R I G H T A U D I E N C E
Surround your on premises systems with high value peripheral components
Plan time-bound implementations
Rebuilding your existing system is not the objective
Value the new capabilities
The journey is a cultural transformation
Systems represent the culture that you want to communicate
Copyright © 2019, Oracle and/or its affiliates. All rights reserved.
2121
The new operating model for modern finance framework
Focus on Efficiency – reducing cost! RPA applied to core processes
Machine Learning, Chat bots
and robo-writers augment
human intelligence
Multi-disciplinary teams in
centers to leverage human
experts’ knowledge
Focus on Digital Intelligence
Advanced (AI enabled) Data
Analytics
Focus on self-service
delivery of MI
FP&A and data visualization
Emphasize sanity over
vanity; manage as though
the CFO were watching
Strategically aware of digital
opportunities; a key
discipline
Finance’s role expanding to enable business agility
Champions of enterprise transformation for the digital age
Focus on operational Excellence – Value! Embedded controls and machine learning
Key challenges to overcome
22
InformationInsight Influence Impact
Navigator
Talent & Competency
Insight Influence Impact
Assembler
Analyser
Advisor
Actuator
Architect
Operational Excellence Business InfluenceDigital Intelligence
CGMA Competency Framework
24
25
Tech & Digital Skills
Thank you© 2018 Association of International Certified Professional Accountants. All rights reserved.
Thank you
© 2018 Association of International Certified Professional Accountants. All rights reserved. This presentation’s images are subject to copyright protection and used under license from
third parties. Do not use images from this presentation without first consulting with the Association’s legal department. The use of copyrighted images outside the licensed
scope constitutes copyright infringement and subjects the user to monetary damages and other penalties.
Thank you© 2018 Association of International Certified Professional Accountants. All rights reserved.
Thank you
© 2018 Association of International Certified Professional Accountants. All rights reserved. This presentation’s images are subject to copyright protection and used under license from
third parties. Do not use images from this presentation without first consulting with the Association’s legal department. The use of copyrighted images outside the licensed
scope constitutes copyright infringement and subjects the user to monetary damages and other penalties.
Questions
Digitally-Savvy CFOUnleash your team’s potential
Matt Stirrup, FCMA, CGMA
Head of Corporate FP&A,
ORACLE
Ash Noah, CPA, FCMA, CGMA
Managing Director, CGMA Learning, Education & Development
AICPA-CIMA