Back in the good old days (if there ever really were “good old days”), CFOs had a fairly straightforward path to success: Be responsible, be timely, be accurate. Good CFOs could also be counted on to think strategically, which added considerable value to the bottom line.
The job was never easy, but these days it’s harder than ever. Corporations demand a high level of sophistication and innovation from the finance function. And the inherent challenges of an economic decline make this mandate even more burdensome.
While most CFOs have taken to heart the importance of being innovative and proactive, not as many of them have defined their role as a central player in planning changes that maximize shareholder value and driving them across the enterprise.
What these executives do not fully exploit is that the CFO is uniquely qualified to provide meaningful input on the organization’s current and future initiatives and to lead the business in adapting to the changes that lay ahead. Leading financial executives take this to heart, providing critical insight to the business at large — not just within the finance function. They use their financial management platform to define and quantify value drivers for their enterprise, focus the entire organization on business initiatives that maximize value, and lead enterprise transformation efforts.
Today’s turbulent times will highlight the value of those CFOs who have already added the title of “Chief Transformation Officer” to their already long list of responsibilities. They have created organizations that are more nimble and better prepared to quickly identify and implement needed changes thoughtfully, with an eye towards not just surviving the next several quarters but being in position to dominate their markets when things swing back, as they always do.
CFOs who truly understand and embrace this new requirement to be a catalyst for change — and to lead business transformation across the enterprise — will create enormous competitive advantage for their corporations.
To learn more about the changing profile of today’s successful CFO, read our analysis of current challenges and opportunities for today’s chief financial officers.
Author: Reed Kingston
Posted in Uncategorized
Tagged business transformation, CFO, CFO performance, CFO turnover, CFOs, change management, continuous improvement, controllership and compliance, enterprise performance management, finance strategy, financial leadership, process improvement, Reed Kingston
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Reposted from E2.OH – Investigations into Enterprise 2.0. Original post can be found here
For those (3) of you just tuning in to our blog, it is probably important to note that the stone in our tranparency soup recipe has long been the BearingPoint Enterprise Wiki deployment. Following an extended pilot, we are about 6 months into a full-on, production level deployment of Atlassian’s Confluence, JIRA, and Crowd stack for the complete firm. I suppose I have always perceived the effort as being successful, but I am willing to admit that my perspective might be a little skewed. (My baby is most certainly not ugly, kind sir!)
In response to an internal communciations query, I was recently asked to take a look at usage stats since GoLive. Initially I was pretty impressed but then it occured to me that I really have no basis by which to judge either way. As such, I thought I would post the facts and see what the prevaling wisdom is.
- GoLive Date = May 5, 2008
- Possible Users = ~16,000 (The wiki is only accessible by employees. This number is roughly current headcount, but people have come and gone over the months.)
We’ll start with basic wiki pages first:
- Current Wiki Pages = 11,720
- Versions of Current Wiki Pages = 87,280
- Pages with Comments = 2,039
- Number of Comments = 6,661
- Unique Page Authors = 1,858
Secondly, Confluence has built-in blogging capabilties through its News Item feature. Here are the numbers for that:
- Current News Items (Blog Entries) = 1,503
- Versions of Current News Items = 2,991
- Comments on News Items = 1,065
- Unique News Item Authors = 210
Finally, here is some typical web analytics data to round out the picture:
- Visits = 68,168
- Pageviews = 620,329
- Pages/Visit = 9.10
- Bounce Rate = 25.81%
- Average Time on Wiki = 09:59
- Unique Visitors = 15,443
- Originating Countries = 62
- % Traffic from Referring Sites = 43% (mostly from Intranet, the rest is Direct traffic)
So what do you think? How does this compare to other stats you have seen?