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Ariella
Ariella
3/12/2018 12:13:22 PM
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Re: Digital CFO ==> ?
@mpourarayn I agree: meetings are usually productivity killers rather than boosters. They also tend to make people more cautious about presentation, I think.

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srufolo1
srufolo1
3/12/2018 12:05:09 AM
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Platinum
Re: Digital CFO ==> ?
@vnewman That sounds like a great idea for a tech committee, but I think the idea of the CFO beng more involved with technology has been a long time coming. After all, if they're in control of a corporation's purse strings, then they should understand the timeline of when technology is actually needed, and have knowledge of the technology they are purchasing. Maybe it requires more training, but that's the direction it appears to be going.

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mpouraryan
mpouraryan
3/11/2018 7:40:02 PM
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Platinum
Re: Digital CFO ==> ?
Here is the problem:   You'll have meetings about meetings--the CFO mentaility has to evolve as well in order for a rapid reaction to on-going challenges--there lies the challenge. 

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afwriter
afwriter
3/9/2018 4:33:54 PM
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Re: Digital CFO ==> ?
This is a fantastic idea! Especially because they can advise from the front lines and aren't just another bunch of guys in suits sitting behind desks and making decisions. 

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vnewman
vnewman
3/9/2018 1:34:35 PM
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Re: Digital CFO ==> ?
My answer to this dilemma is for there to be a tech committee comprised of folks in the trenches with technical backgrounds and aptitude that can advise the CFO on the technical needs of the company. They can help address budgetary concerns and define what is mission critical and what could possibly wait until next year.

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Joe Stanganelli
Joe Stanganelli
3/9/2018 1:51:03 AM
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Re: Digital CFO ==> ?
@afwriter: Well, that's why they get paid the big bucks. It's easy to gripe about their substantial compensation packages until you have a full understanding of exactly what it is they have to do, be responsible for, and possibly even face personal liability for (not to mention, relatedly, the relatively high turnover in such positions at times).

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Joe Stanganelli
Joe Stanganelli
3/9/2018 1:49:44 AM
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Re: Digital CFO ==> ?
@mhh: The CFO is evolving to more of a CRO -- Chief Risk Officer. Finances and Risk, after all, are closely related.

And cybersecurity and compliance issues, among other digital/data concerns, tie directly to those concerns.

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Joe Stanganelli
Joe Stanganelli
3/9/2018 1:48:33 AM
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Re: Digital CFO ==> ?
@Shaunn: But, see, this is where it starts to get ridiculous. Don't we have enough of these C-suiter titles already? CEO, CFO, CMO, CIO, CTO, CDO, CAO, COO, CXO, CISO, and so on and so forth.

Here was my modest proposal, in 2013, for an additional C-suite position... It hasn't taken off yet, but eventually, I think, it will: https://twitter.com/JoeStanganelli/status/321307974385688576

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afwriter
afwriter
3/8/2018 10:35:13 PM
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Platinum
Re: Digital CFO ==> ?
How much can a person in one of these positions take on before it starts hurting their performance? It makes sense that they would have more responsibilities as transformation take hold but I would be worried that they would be expected to know too much about too much and then things start slipping through the cracks. 

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mhhf1ve
mhhf1ve
3/8/2018 10:04:11 PM
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Platinum
Re: Digital CFO ==> ?
Is it really that surprising that CFOs have to deal with more and more technology decisions? CEOs have been in the same boat, but perhaps needing to adapt even more quickly. The CFO needs to understand the business, and if that includes technology then so be it, and advise from a financial angle from a CFO's expertise. Perhaps more surprisingly, a CTO isn't expected to have more financial expertise in order to argue back? 

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