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Dear Members and Partners of AchieveNEXT CFO and CHRO Alliance Peer Advisory Networks, Helping our Alliance Networks Members and Partners get and stay connected to each other is core to who we are. Yet today we find ourselves dealing with an unprecedented situation. The impact of the COVID-19 pandemic has been intense for all of us over the past weeks. All of us have been asking questions which would have seemed unthinkable:  How can we ensure that our families and friends get through this safely and without harm? How can I best protect the people and relationships that matter most to me? How do we keep ourselves and our businesses running and productive, ...
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We are living in very disruptive times - AchieveNEXT Human Capital Never has the VUCA acronym (volatility, uncertainty, complexity and ambiguity) had more importance. But with that comes opportunity to really examine our enterprises, our people, and our culture to ensure that we stay true to who we are - not only in times of crisis, but when that crisis passes. The coronavirus has caused almost all enterprises to have to pivot in one way or another. Whether a disruption in supply chain, travel restrictions, or addressing employee and customer concerns, minimizing the impact to business operations and talent performance is at the forefront. It is even ...
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This week marked the start of our new Q1 Peer Advisory Group Meeting Series! On 2/12 we kicked it off on the East Coast where CFOs and their peers gathered in King of Prussia, Philadelphia, New York, Bethesda, and Washington D.C. to share insights, experiences, and best practices.  Operational efficiency is the theme for this first series and how best to ensure that you and your teams have the most critical capabilities and operational efficiencies required for successful cross-functional collaboration in driving profitable employee and customer-experiences in 2020. A few of the discussion questions that were brought up during the meeting include: How does ...
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Women make up more than half of the workforce in financial services firms, but fill only about 20% of the leadership roles. In fact, they only account for a mere 5.4% of CEOs at S&P 500 companies. A recent article, “Within Reach?” , written by Deloitte, focuses on achieving gender equity in financial services, specifically women in financial leadership roles. Women leaders are an important asset because they often bring a different approach, and help drive innovation, increase productivity, and boost profitability. Enterprises today prioritize diversity among their employees because they are beginning to understand the business impact of a diverse and, ...
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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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