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Tomorrow’s CFOs –Transformational Leadership in the C-Suite

Chien Dang

The growing importance of Chief Financial Officer (CFO) roles due to globalisation and business complexity has led to the need of increased expectation for CFOs to become business strategists. Equipped by technology advancement, the role of a CFO is now transforming.  

Conventionally, CFOs are required to direct the company accounting, ensure the financial information accuracy, and monitor the financial health of the company. However, the future candidates for CFO positions might experience a change in their conventional roles. Future CFOs will be expected to not only good at interpreting the numbers but also developing and supporting their companies’ business strategies. The CFO will become more progressive to act as the CEO’s right hand man, especially when it comes to strategic decision making. 

The change in CFO role could not happen without the impact of technology. Innovative technology are disrupting and challenging the conventional definition of being a CFO. Technology is indeed the significant factor that is transforming the role of the CFOs.

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Innovative technology enables cloud accounting to flourish. Systems like XERO provide CFOs access to real time data and insights of their companies’ performances. With advanced machine learning, XERO could learn to complete multiple manual tasks which are currently performed by human. The automation feature of XERO allows CFOs to have more time and resource for strategy analysis, thus results in a better decision making. 

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What can XERO tell us about leadership (Part 2)

Fuzuki Nishimura

XERO entered Australian accounting software market seven years ago. They used to be a boutique-sized business; however, they brought a disruptive innovation that has changed the landscape of accounting industry. Software used to be installed in our computers; and accounting data were handled mostly offline from our desktops. When XERO came out, we just loved it. It allows us to access data from multiple devices. Our clients could now enjoy seeing financial reports from their mobile devices.

                                                                         

Many of our clients love XERO because it is highly customised to their business needs. A grocery owner, who has been our client for more than four years, shared with me that XERO was the best software to handle hundreds of transactions and still able to generate real-time report. That is the reason clients choose to subscribe and stay using XERO for long term.

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What can XERO tell us about Leadership? (Part 1)

Harry Hoang

Coming back from XEROCON SOUTH in Brisbane, I kept asking myself about what have we learnt from the event. In the past, we tried to figure out the most suitable accounting software for our business and clients. XERO was the best choice. When at XEROCON SOUTH and talking to my colleagues, I realised that XERO is embarking in a leadership position in cloud accounting, which has never been taken by other big players.

I was keep asking myself about what we have gotten from the event. I asked staff to write few words about their personal feeling so we can consolidate to a good article for B2B this month. Personally, as a CEO of an accounting practice, I am thinking more about the direction, the leadership of the accounting industry in which XERO play a very important part of the Eco system. 10 years ago we all know that MYOB, QuickBooks are the most popular accounting software for SMEs and Accountants.

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