The FSN Modern Finance Forum on LinkedIn has grown to more than 43,000 members and draws together the views, experience and insights of senior finance professionals from more than 200 countries. And it is in the spirit of this collaboration that we are delighted to announce our very first networking conference, “The Future of the Finance Function” to be held in London on 10th and 11th November 2015.
This Future of the Finance Function conference is unlike any other you will have attended because the agenda has been designed around the needs of our unique Modern Finance community. Ideas for the presentations, case studies and workshops were ‘crowd-sourced’ directly from our FSN Elite membership and you will recognise many of the speakers as ‘personalities’ from our Modern Finance LinkedIn forum. I would especially like to thank Mark Spicer, who will be travelling all the way from Australia to be our conference chairman. And of course to Daniela Bensi who will be flying in from Italy to be on the FSN Elite expert panel.
We have kept the cost of attending the Future of the Finance Function conference to the absolute minimum reflecting our desire to make the trip affordable for as many members and their finance teams as possible, in the UK and abroad.
I do hope that you will take a good look at what is on offer below. It’s not only a wonderful learning opportunity but also a chance to meet colleagues – some of whom you may already have met on the Modern Finance Forum on LinkedIn . In fact we are going to provide a booklet with the name and picture of everyone attending the Future of the Finance Function conference so that you can easily get to know all of your colleagues.
Finally there is a fun element with a networking gala dinner on the first night with prizes for presentations, blogs and comments in the Modern Finance LinkedIn group.
I look forward to welcoming you to our FSN Elite community’s first event and I hope you will help to make it a great success.
Gary Simon, Bsc, FCA, FBCS, CITP.
Chief Executive Officer, FSN & Leader of the Modern Finance Forum on LinkedIn
Chairman Mark Spicer's welcome and opening remarks
What will the future of the finance function look like?
Gary Simon, Chief Executive of FSN explains how the Modern Finance agenda sets the crucial framework for the Finance Function of the Future. He will examine the changing role of the CFO, the drive towards business and process innovation leveraging so called digital technologies, the commitment to process excellence through standardisation and automation and explore how the finance function of the future will need to invest in new skills, competencies and processes to drive better business insights and decision making.
The Impact of Data Science on the Future of the Finance Function
Roger Fried, is an FSN Elite thought-leader, blogger and inspirational finance leader whose is at the leading edge of the integration of Finance with the transformational developments in Data Science. This fascinating session describes Roger’s journey from finance director to data scientist and explores how data science is transforming the way we measure financial performance, visualise complex data, discover new performance drivers and develop new and more meaningful KPIs.
Coffee Break in Exhibition Area
Budgeting, planning and forecasting are undergoing rapid process innovation but what is happening at the leading edge of developments?
Case study presentation
Rentokil Initial is listed on the London Stock Exchange and is a constituent of the FTSE 250 with a reported revenue of £1.8 billion for 2014. It is global leader in the provision of route-based services which protect people and enhance lives. Its services include pest control, hygiene, workwear and plants. These are delivered through five strong regional businesses operating in 63 countries and employing some 29,000 people at the end of 2014.
Trisha Haughey, Group Finance Development Director at Rentokil Initial, is a modern finance leader, seeking to establish highly automated, standardised and innovative processes across the group worldwide. In this session she explains how over a three year period she has set the groundwork for a standardised platform for core financial processes (fixed Assets, G/L, A/P, A/R Inventory, Credit Control, Budgeting, Planning and consolidation) and describes how this framework has set the scene for Rentokil Initial’s finance function of the future.
The Big FSN Elite Debate – A hand-picked CFO member panel discusses the priorities for the Finance Function of the Future
In this session a selected panel of finance leaders confronts and discusses with our audience the wide range of people, process and technology issues that impinge on the development of the finance function of the future
Lunch and networking time in the Exhibition area
Process automation and innovation - how does it add value to group financial reporting?
Case study presentation
Hein Scholten, formerly Head of Finance and Business Intelligence Solutions and now a consultant at IdeaMakery to the Maersk Group, shares his experience of how core financial reporting systems can be rationalised and transformed by simplifying information requirements, pursuing a standardised approach and leveraging modern applications.
In an outstanding example of “Modern Finance” Hein explains how he has remodelled the inter-company reporting process and leveraged innovative new technology to accommodate the sometimes competing information needs of group and local business entities so that they both benefit from a unified reporting environment. In a leading edge example of ‘beyond budgeting’ concepts, Hein also shows how it is possible to introduce extensible consolidation systems to provide a sound platform for both rolling forecasts and actuals in one application.
Integrated reporting and non-financial information is one of the most innovative initiatives in corporate reporting. But how can organisations benefit from a more joined-up approach to describing their operations?
Case study presentation
Derek Haynes is the UK Leader for the International Integrated Reporting Council (IIRC), with responsibilities that include developing relationships with organizations that are considering embracing integrated thinking and integrated reporting and with UK Institutions and Investors that have an interest in the innovation and evolution of corporate reporting.
In this session Derek will walk us through the concepts of integrated reporting and explain how organizations are using <IR> to communicate a clear, concise, integrated story that explains how all of their resources are creating value. Derek will describe how <IR> will help the finance function of the future think holistically about their strategy and plans, make informed decisions and manage key risks to build investor and stakeholder confidence and improve future performance
Afternoon tea break
Darek Olak takes us on a journey to explore problem solving in the finance function - developing soft skills that have hard impacts.
FSN Elite’s Community Panel Discussion – what does all of this mean for the finance team’s development? Do we see ourselves as Digital CFOs?
Future of the Finance Function Conference Close & Cocktails
Future of the Finance Function Dinner and Awards Sponsored by Anaplan
8:30am Future of the Finance Function Conference Breakfast Sponsored by Tagetik
Bob Cooper, Finance Solution Lead at Auto Trader Group PLC explains how the group drove efficiency and transformation in finance.
Bob will share details of how Auto Trader Group has used Tagetik to transform its financial reporting and consolidation to meet group management and external reporting requirements.
Bob is a highly experienced Finance Systems Specialist with more than 20 years proven experience in large scale deployments; system migrations; business change; project management (Prince2 practitioner); systems integration.
WORKSHOP A: BUILDING A MODERN FINANCE FUNCTION
Led by FSN Chief Executive Officer, Gary Simon
The first part of this workshop closely examines innovation on the 'outside' ,i.e. how technology-infused business models and digital business leaders are changing the competitive landscape by driving innovation in the way that they interact with customers, suppliers and employees. But is your business prepared for the digital era? How do you drive innovation, what are the competitive threats, who is surveying the horizon and are your people prepared?
The second part of the workshop looks at process innovation and excellence on the 'inside' which can often deliver higher returns. The workshop discusses core financial processes such as ERP and CPM and asks how innovation, automation and standardisation help to build the foundations of the Finance function of the future.
WORKSHOP B: BUILDING AN "INSIGHT DRIVEN ORGANISATION"
Led by Deloitte Partner, David Anderson
Building an “Insight Driven Organisation” – is about moving away from gut feel decisions to more scientific decision making.
How do we make decisions? Do we know what are the right questions to ask? According to author and Nobel Prize-winning economist Daniel Kahneman, people make snap judgements by devising the simplest coherent story to fit whatever facts they can see. He calls this “What You See Is All There Is” (WYSIATI). And for millennia, business decisions have been made by executives who have relied on little more than their judgement and on the experience of a few deep subject-matter experts.
The problem is that the world has become a vastly more volatile, uncertain and complex place. In this environment, experience and intuition are still valuable but no longer sufficient. Decisions that work for one business do not guarantee success for another; nor will a good outcome yesterday always translate into a good one tomorrow. With new opportunities and risks around every corner, and motivated competitors trying to move farther ahead, making the right decision at the right time has never been more difficult.
This workshop will explore how leading Finance organisations are becoming more Insight driven including exploring common challenges such as changing the mind-set, developing talent, and enabling platforms.
WORKSHOP C: INTEGRATED REPORTING; THE CRITICAL FOUNDATION FOR EFFECTIVE ENTERPRISE PERFORMANCE MANAGEMENT
Led by David JH Jones, Managing Director, UK and EMEA, Column5 Consulting
How and why are organisations integrating the reporting of financial results and non-financial information and how is this achieved across the functional and organisational dimensions of the business to create a solid foundation for effective performance management? How does an organisation move beyond traditional financial data into key driver reporting, embracing customer and product key performance indicators, as well as profitability measures?
Integrated reporting takes organisations into new and more agile levels of reporting, analysis, and predictive capability. It allows them to create an integrated data model for performance management while also delivering on the goal of integrated planning and integrated reporting.
In this workshop David explains how companies are exploiting their existing EPM platforms to deliver on the promise of integrated reporting and also explores the impact of the latest generation of ERP and EPM solutions for fast and effective integrated reporting, analytics and forecasting
WORKSHOP D: ENTERPRISE BUDGETING IN THE MODERN FINANCE FUNCTION
Led by Paul Bavington, Managing Director, Budgeting Solutions
This workshop focuses on the vital area of planning, budgeting and forecasting, examining closely what is driving change in these core financial process which seems to present difficulty for so many organisations. The session examines the technologies that can be applied to transform the process and draws on the experience of two finance leaders who will present case studies during the session in person.
The case studies will explain how rapidly changing business models changed the basis of these organisations' planning, budgeting and forecasting processes and how agile systems were crucial to responding to rapid market changes, accelerating ‘speed to insight’ and supporting effective decision making.
There will be time to debate contemporary issues such as the cloud versus non-cloud debate and how can the finance function can better leverage digital technologies to better automate and standardise the planning, budgeting and forecasting process?
The Future of the Finance Function conference was developed by the FSN Modern Finance linkedIn community for the community. As a community led initiative FSN Elite have heavily subsidised the cost of the places in order to give as many of our members the opportunity to network in person, while learning and having fun.
We recognise that building a modern finance function requires involving the team. As a result we encourage team bookings with a special rate of £299 + VAT for each team member booked onto the Future of the Finance Function conference from the same organisation at the same time.