- Embracing AI in Finance and Accounting: Balancing Risk and Innovation
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- Until the public release of ChatGPT, most of us considered the notion of a human-like artificial intelligence like the HAL supercomputer in the movie 2001, or Data, the AI-powered android from Star Trek, something we were unlikely to see in our lifetimes. But as people use new powerful AI tools like ChatGPT and BARD for everything from setting meeting agendas to writing personal letters, shopping lists, and even poetry, an AI-powered future seems likely to become a reality sooner rather than later. AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO.
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Take Assessment Watch Video- 5 Considerations for Your Third-Party Risk Management Program
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- The overarching principle in Third Party Risk Management is to realize that third party management is a relationship with a defined life cycle. A robust, structured program devised and developed by the CFO to mitigate these risks can protect corporate reputation and shield executives, board members and other management from personal and professional liability.
- The Changing Role of a CFO
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- Gianluca Bisceglie is the Founder & CEO at Visyond. He started his career with Vodafone in technology and strategy, has been a Partner in buyout firm and taught at the London School of Business and Antwerp Management School. Gianluca holds an MEng in Electronics Engineering from the Polytechnic of Turin (Italy) and an MBA with Distinction from London Business School. Mr. Bisceglie responds to a couple questions on the changing role of the CFO.
Governance & Controls – structure and controls.
Transaction Recording – systems, transaction processing and closing the books.
Reporting - efficient, timely and accurate information for decision making and meeting compliance requirements.
Accounting
Business Planning - provide the financial roadmap for the company with supporting analytics.
Financial Forecasting - integrate the company’s current performance relative to budget with the real-time business environment.
Investment Analysis - the framework to analyze new opportunities as they present themselves.
Finance
Cash Management - the discipline to ensure cash is available to operate the business normally.
Funding - Planning for and raising funds to meet the needs of the business.
Risk Management – Identification and mitigation of key business risks.
Treasury
Self-Awareness - Internal.
Team Building - External.
Strategy & Culture – Motivate people to follow you.
Leadership
Four Pillars of Executive Expertise
CFO.University is built around the Four Pillars of CFO Success. These Pillars are supported with Core Competencies. Our framework allows you to master your role as a senior financial officer. The Four Pillars are made up of:
Accounting – Governance & Controls, Transaction Recording and Reporting
Finance – Business Planning, Financial Forecasting and Investment Analysis
Treasury – Cash Management, Funding (Capital Raising) and Risk Management
Leadership – Self Awareness, Team Building and Strategy & Culture
