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The 2020 Annual CFO / CHRO Sentiment Study is now here! More than 600 Finance and HR leaders from across North America participated in this year's CFO /CHRO Sentiment Study, offering in-depth perspectives on how they plan to drive growth and performance for their enterprise in the face of modest risk of recession, escalating talent shortages, and increasing technology-driven disruptions to industry, business model, and cultural norms in 2020. This Study captures the sentiments and intentions of The CFO Alliance , the leading peer advisory network, powered by AchieveNEXT , they power for more than 8,000 Finance leaders representing middle market and ...
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Goldman Sachs and a team of the bank's economists, led by Jan Hatzius, released their predictions for the US economy in 2020.  Our CFO Alliance Members discussed and debated these findings throughout our Q4 Series.  Here's what the economists had to say: The US-China trade war to subside and consumer spending to remain strong, offsetting weak business investment which will in turn cause growth to accelerate. Growth is expected to accelerate to 2.25-2.50%. Unemployment will drop to its lowest level since the Korean War. The bank is forecasting unemployment to hit 3.25% by the end of 2020. More jobs will continue to be created and ...
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Did you know within the first 24 months of appointing female CFOs, companies saw, on average, a 6% increase in profits and an 8% better stock return , compared to performance under male predecessors? That's right, women are positively impacting the workplace as we know it. Check out this article posted on Bloomberg which provides more insight on how women are succeeding in their roles as CFOs.  Yvonne McGinley, CFO of Griswold Home Care and CFO Alliance Global Advisory Board Member read the article and commented: "Less than 15% of CFOs in US businesses are women. Those women who have attained the CFO role tend to have a different mindset. They had to ...
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Our Q3 Roundtable Series has concluded! Thank you so much to the finance leaders who came together over the past 4 weeks and shared their insights with a room of their peers in 13 markets across North America . Th e Q3 Roundtable S eries focused on how CFOs can mitigate risks that stall growth within your enterprise . During the series, CFOs and Finance Leaders discussed how to better recession-proof their business, manage employee risks, and deal with margin compression. Each Roundtable discussion brought different ideas to the table; finance leader s left with enhanced knowledge and understanding on three key areas of focus: ...
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The CFO Alliance is over halfway through its Q3 2019 Roundtable circuit and one thing is for certain…when discussing risk mitigation, the conversation always comes back to people . We are excited to share Mercer’s (a CFO Alliance National Partner) Global Talent Trends for 2019 . As we continue to move forward into the future, employee expectations, government policies, and technology will reshape the workplace as know it. With that being said, more than half of executives expect AI and automation to replace one in five of their organization’s current jobs. However, this isn’t all negative because the implementation of AI and automation will allow 58 ...
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WAYNE, Pa., September 9, 2019 (Newswire.com) -   The CFO Alliance, a leading peer advisory network for more than 8,000 CFOs and qualified finance executives from middle market and emerging enterprises, released its annual   2019 Executive Compensation and Culture Study , powered by Insperity and AchieveNEXT. The sixth annual benchmark Study surveyed more than 200 CFOs, CHROs, and executives of mid-sized organizations, both public and private, across North America. This Survey is unique in that it not only benchmarks salary data but also allows enterprises to benchmark the design and types of short- and long-term compensation programs offered, including ...
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As we continue to navigate an increasingly noisy, complex and disruptive business, economic and social environments, one of the top pillars of a CFO's responsibilities remains Risk Management. From overall financial management to the oversight of HR and IT, a fractional or full-time CFO is the first line of defense in establishing and maintaining adequate risk management and mitigation for today's emerging and middle market enterprises. As we sprint through 2019 and look ahead to 2020, it is clear that risk comes in many forms - from lack of internal controls, to cybersecurity, to employee risks. The CFO is charged with understanding and mitigating the risks ...
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Now that we are over halfway through 2019, there has been a lot of speculation about the trajectory of the Global economy and the performance of enterprises in every industry. With so many voices releasing statements about the status of the economy and revenue growth potential for the remaining part of the year, it is difficult for CFOs to know what their peers are genuinely feeling. That's what makes our annual Study unique in its value; the  2019 Mid-Year Update to the CFO Sentiment Study  includes the genuine sentiments of over   200 senior financial executives from across North America, offering in-depth perspectives on how they are delivering on changing ...
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Now six weeks into my Summer Co-Op with The CFO Alliance, I have learned that while some 'old-school finance professionals' may think that the CFO's increasing focus on innovation exceeds the boundaries of the CFO’s responsibility, most of our CFO Alliance Members would strongly disagree.   I have been actively participating in our CFO Alliance Community activities and have gained so much knowledge from the discussions, the case studies, and from the Special Task Forces who are collaborating on best practice Reports by CFOs, for CFOs. The most recent group of Members have just released the latest Report --  The CFO’s Role in Understanding, Enhancing, and ...
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As we move into July, I wanted to take a moment to both reflect back on the 1st half of the calendar year and look ahead to the remainder of 2019 and the sprint to 2020.   The 1st half of the year brought together CFO Alliance Members, prospective Members and select Partners for robust discussions on a number of the key pillars driving their individual and enterprise performance in 2019, including their ability to tackle these eight (8) critical areas of opportunity and issue: CFOS ARE EXECUTING THE STRATEGY & MEASURING SUCCESS - Continued advancement and evolution of the role of the CFO means increasing impact across the enterprise. This year again, ...
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As a peer advisory network dedicated to the finance leaders of the Middle Market, The CFO Alliance is pleased to share the release of the Annual Report of our Partner, The National Center for the Middle Market. This Report,  Strength in the Middle,  summarizes the Center's research, outreach, and accomplishments of the past year. The National Center for the Middle Market continues to provide critical data, analysis, insights, and perspectives that help facilitate growth, increase competitiveness, and create jobs for companies, policymakers, and other key stakeholders in the middle market economy.  Read the full Report here . “The programs, research, and ...
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As we roll forward through our Q2 Breakfast Roundtable Series:  Getting It Right:  How CFOs Unlock Value With Technolog y  we are reminded that investing in the training and development of our employees behind the technology is just as important as investing in technology systems. Toronto Member Guest, Samiksha Khanna, COO/CFO for Uberflip, explained her company’s practice for investing in their employees. Uberflip serves as a platform for marketers to create, manage, and optimize content experiences, so that content can be fully leveraged by all company stakeholders at every stage of the buyer journey. Samiksha explained how Uberflip’s practice for investing ...
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According to our CFO Alliance National Partner, Mercer, and their 2018 Mercer National Survey of Employer-Sponsored Health Plans, employers said that their number one strategic priority for the next five years is ‘monitoring/managing high cost health care/benefits claimants.'  This is not an easy task to undertake in 2019, and those Middle Market employers (those with 200 – 5000 employees) who have been utilizing a multi-year strategy to manage their health plan costs are now facing a new breed of super-tall trees  that they had thought could be conquered by their stop-loss insurance coverage:  the ever increasing costs of drug protocols.   Mercer is seeing ...
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As we prepare to kick-off our Q2 Executive Roundtable Series:  Getting It Right:  How CFOs Unlock Value With Technology ,  I think that it is important that CFOs consider the concept of critical mass when it comes to the adoption of new technology.  Let's all agree that change is not easy, especially when it comes to changing technology that drives your business.  However, if you think about it, every piece of technology which is now (or once was) a critical part of our personal and professional lives was once new and novel.  With this in mind, one of the most critical steps a CFO can undertake when developing the decision, implementation and adoption plan ...
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Introduction As Peter Drucker once said, “ you can’t manage what you can’t measure .”  Establishing priority goals and objectives is only half the battle – stakeholder accountability is essential to delivering outcomes on plan, and regular business reviews are a proven method to measure performance and progress.  Effective business reviews require all accountable executives to be in attendance and ‘present’ with a clear and consistent agenda serving four (4) core purposes: 1) Provide transparency to progress 2) Provide clarity to performance 3) Drive accountability 4) Create a culture of collaboration and problem solving CFOs have the opportunity ...
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Digital Transformation for CFOs Digitizing your Financial Close Process By   Carlos Catalan Citrin Cooperman’s holistic view of the financial close process starts with the recording of transactions to sub-ledgers and continues through all the activities required to ultimately produce and review your financial statements. This is one of the most important and critical processes for a company. The complex relationship between finance systems, processes, and people can slow down a company’s growth and operations and limit opportunities to improve customers’ experiences. Improving the close processes, using systems that ...
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As we sprint through the end of Q1, 2019 and we end our CFO Alliance Q1 Roundtable Series on The CFO's Talent Mandate:  Linking Talent to Value in 2019 , with finance leaders gathering in San Mateo, CA, Walnut Creek, CA, and in Orange County, CA this week, it has become increasingly clear through our discussions that CFOs can increase employee engagement and performance by embracing a collaborative and communicative approach to goal-setting for the employees that they manage and lead.  However, our discussions have exposed deficiencies in employers' overall ability to engage employees with said goals.   Let's start with the Good :  Almost all CFOs would ...
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As our CFO Alliance Members continue to gather around North America to discuss THE CFO’S TALENT MANDATE - LINKING TALENT TO VALUE IN 2019 , with groups of finance leaders gathering this past week in Denver, CO, in Chicago, and in Oak Brook, IL, it has become increasingly clear that the rapid pace of digital and technology innovation has greatly impacted generational performance in the workplace.  At the same time, sterotypes about millennials in the workplace have also become the new norm.  However, as Crystal Kadakia, author of  The Millennial Myth points out many of the behaviors being tagged to millennials (By the way, millennials are typically defined ...
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While nearly 3/4 of the finance leaders who participated in the 2019 CFO Alliance Sentiment Study have committed their enterprises to increased top line revenue this year, more than 45% of them also note that this will be their enterprise's greatest challenge.  This means that sales & sarketing will remain 'center stage' as CFOs will continue to seek, train, develop, and deploy talent and solutions with FP&A capabilities throughout the enterprise so that they can effectively measure the ROI (Return on Investment) and the ROO (Return on Objective) for the investments their enterprises are making to drive sales and marketing.  CFOs are not leaving this ...
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CFO Alliance Members & guests gathered this week in NYC as part of the Q1 Executive Roundtable Series to discuss, debate and dissect The CFO’s Talent Mandate - Linking Talent To Value In 2019.  One of the critical areas for discussion was around ways CFOs can measure the return on their company’s training and investments.  Mike Ross  challenged CFOs to adopt the position that JD Dillon, principal learning strategist for Axonify.  articulates:  "ROI is important, but it's not the Goal.  Impact — A sustained change in employee behavior & business results — is the Goal.   Employers need to be ready to consistently gather data from multiple points to ...
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