digitally-savvy cfo unleash your team’s potential · unleash your team’s potential matt...

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

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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