Key figures and findings, plus the latest sound bites

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The CIMA Centre of Excellence at the University of Bath School of Management has been established to determine the state of the finance function and research best-practice in its development over a five year period and on a global basis.

This is the first comprehensive work, based on substantive global data with the consultation of over 4,500 finance professionals and senior management, to give an invaluable and objective view of the nature of the finance function in today’s organisations, the path it has taken over a decade of rapid change – and its likely future trajectory.  

Controversially, in 1998 the Finance of the future: A guide for business users report was released by KPMG claiming that by 2010 ‘there would be no need for a finance department’. Subsequent to this report, many other commentators have gone on to support the notion of the disappearing finance department with different areas of finance being outsourced, joining other specialist teams and, critically, being integrated into the business.

Finance is perceived as a professional function partnering with the organisation to maximise value creation and is less and less seen as a large business overhead. Would you concur with the statement? In a roundtable discussion we take in the views of a number of finance directors addressing ‘business partnering’ in the context of shifting the focus of the finance function to value creation rather than the more traditional focus on cost reduction and efficiencies. Has the current economic climate had a major impact in this approach? If so do our interviewees see it playing a long term role in how the finance function is perceived and in its development?

Plus: the corporate world has been integrating ‘Finance business partnering’ over the past decade to different degrees. Many ‘business partners’ are now seen as providing key advice and information to enable organisations in decision making at the operational unit and strategic level. How do our experts think that this trend has seen finance reach a true business partnering or advisory role OR do they think there is a benefit in progressing further to true partnering - where the finance professional has a stake and thus takes responsibility in the decisions that are made based on their advice / information or analysis?

Simon Louth
CFO
AstraZeneca
Morten Sorensen finance director, Central Europe, Middle East & Asia Pacific
SSP
Erik ter Horst
vice president finance/CFO EMEA and Latin America
BT

How managing the retention and development of human capital can help to build a future on world-class, worldwide talent.
Plus:

• Measures for identifying and recruiting talent (particularly in relationship to finance the finance department
• The importance and the challenge of defining talent, plus the methodology for identifying individuals when developing an effective talent management programme

In recent years, Pitney Bowes, which has about thirty-six thousand employees, has become extensively involved in social media, using it internally to collaborate and externally to glean new ideas from business thinkers whom they might not otherwise encounter. The company uses social media to present a more human face to its global network of business customers. That human face very often belongs to Aneta Hall (@anetah). While her title is emerging media manager, she usually describes herself as an 'agent of change.' Either way, she has been the driving force for social media at Pitney Bowes. Aneta will discuss how organisations can successfully use social media to drive change and manage employees using twitter, Facebook and the other forms.

During tough economic times it's more vital than ever to hold on to and leverage your top performers: they've got the outsize smarts and dedication your firm needs to survive recession and emerge stronger. Yet in 2009 many employers are failing to support and sustain their best people. Loyalty and trust are out the window. Engagement is through the floor. Flight risk is at an all time high.

Sylvia Ann Hewlett presents new data detailing what has happened to top talent in this brutal down cycle. She then explains how companies can re-engage and re-energize their stars.

Cash management
Making the most of banking relationships, inter-company lending, debt and equity issuance, asset-based lending and asset-backed securitization, overseas finance – how do these options weigh up in the current economic climate?

Risk 
Managing risk on a regional and global basis

Technology
Many current business models are not yet mature enough to truly reflect the concern of costs alongside current investment in equipment and technology.  Can smarter usage of both result in cost savings especially with compliance on green issue penalties already on the business horizon?

Outsourcing
How should a company go about selecting an outsource partner? Is there a beauty parade? How do you build in the right KPIs? How do you manage dispossessed in-house staff - morale, etc? If and how should you shadow the outsource deal initially, in case it needs to be clawed back? How do you evaluate the risk in such a deal, the reality of the savings and quantifying the visible AND the invisible savings, management time, etc? If the best system is for the outsourcing provider to evolve with your business (the costs and ease of changes to contracts) how well can this be built in to the original deal?