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.
Until just a few years ago, there was no real alternative to Excel. If you wanted to do any type of data analysis, keep financial records, manage your corporate finances and perform risk analysis, Excel was the only tool at your disposal. But, as those of us working with them to make decisions based on numbers will tell you, traditional spreadsheets leave a lot to be desired. Yet, virtually everybody still uses spreadsheets that are vulnerable to data leakage, undetected errors and often bad business decisions.
Non-financial performance measures are increasingly becoming popular and began to be widely adopted by organizations. They are considered to be superior predictors of the future financial performance of the firm. Executive teams are adopting non-financial performance measures to shape executive behaviour. Non-financial performance metrics such as customer loyalty, employee engagement, product quality, innovation quotient or market dominance have increasingly been adopted to determine the executive compensation.
The co-founders of SheerID give an eye-opening example of how technology can help develop new markets, improve the customer experience for retailers, make CMO’s look really smart while relying on the finance team to model the value created from the program.
You want full business partner participation in planning, budgeting, and forecasting but you struggle to engage other departments in the process. Does this sound familiar?
We thought so. But don’t fret. Here are five tips to spark cross-functional engagement and build confidence in the financial planning process.
