Becoming a CFO Wizard McKeon Sep09

Copyright © 2009 Infor. All rights reserved. www.infor.com.

Christina McKeonDirector of Product Marketing

Becoming a CFO WizardPalladium Business Performance Conference

Miami, September 16-17, 2009

2 Copyright © 2009 Infor. All rights reserved. www.infor.com.

Existing Perceptions

Add up numbersAdd up numbers

Manage debtManage debt

Meet regulationsMeet regulations

Report numbersReport numbers

And repeatAnd repeat……

Monitor cash flowMonitor cash flow

Validate numbersValidate numbers Manage investmentsManage investments


Existing Perceptions

Add up numbersAdd up numbers

Manage debtManage debt

Meet regulationsMeet regulations

Report numbersReport numbers

And repeatAnd repeat……

Monitor cash flowMonitor cash flow

Validate numbersValidate numbers Manage investmentsManage investments

All complex processes, but typically managing

the mechanics of processes without

showing additional value


CFO Wizard: Making a Difference

Trusted AdvisorTrusted AdvisorDevelop relationships at Develop relationships at

executive levelexecutive level

SorcererSorcererShow performance in line Show performance in line

with expectationswith expectations

ProphetProphetPredict the futurePredict the future

GovernorGovernorEnsure accuracy and Ensure accuracy and

validity of resultsvalidity of results

Shape ShifterShape ShifterSeamlessly shift across Seamlessly shift across

rolesroles


CFO Wizard: Focus for Maximum Impact

Improve visibilityCreate quick winsDesign the right roadmapStay ahead of the curvesEmpower the organization


Improve Visibility

Give more people in organization more access to good data that is relevant to their rolesSystem must be easy to learn and use – self-service accessTransparency into data for drill down and clear audit trailsFollow the 80/20 rule before thinking about major overhauls


Create Quick Wins

Follow the 80/20 ruleWhat area will provide 80% of the result with 20% of the effort?

Where are the sharpest business pains?Data visibility?Comparing actual results to budgets?Budgeting cycle too long?Planning and forecasting?Too reactive to changing conditions?Manual processes?Spreadsheet-based systems?Too long to close the books?Ready for XBRL or IFRS?


Design the Right Roadmap

Know where you are, where you need to go, and how you are going to get thereRoadmap makes it easier to make daily decisions that are in line with direction

Eliminate choices that don’t support the goals

Start on the quick wins developing roadmap in parallelRoadmap

Create goals and communicate them to team and companyPhased with short, medium and long term goalsSeek out best practices in your industry and leverage them


Stay Ahead of the Curves in Technology and Regulation

Generally plenty of warning and ramp-up timeDon’t wait until the last minute and then reactFactor upcoming changes into your roadmapInternational Financial Reporting Standards (IFRS)

U.S. has no timetable yetCanada IFRS conversion starts 2011Do your systems support IFRS?

eXtensible Business Reporting Language (XBRL)U.S. public companies starting in 2009Automate your tagging


Empower the Organization

Control what needs to be centrally controlledDecentralize decisions best made at regional or departmental levelsBring others on boardConvince, negotiate, inspire, and listen


CFO Wizard: Focus for Maximum Impact

Improve visibilityCreate quick winsDesign the right roadmapStay ahead of the curvesEmpower the organization


Next Steps

Develop a visionMindset that goes beyond the traditional view of the role

Choose your battlesBiggest pain points, quick wins

Plan for successRoadmap with short, medium and long-term goals