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Articles by Stuart Rye
Finance counting on digital transformation to enhance strategic value
Corporate finance organisations are counting on digital transformation to improve customer focus, enhance strategic value and reduce costs, according to the 2019 Finance Key Issues research from The Hackett Group. However, the research also found that finance organisations’ progress toward digital transformation has been slow, due to difficulties in adopting and implementing digital technologies.
Digital transformation: Propelling finance into the future
For many leaders, change is uncomfortable. And an organizational overhaul? That’s downright daunting. But our experiences at Accenture, paired with our extensive research, clearly demonstrate how a digital transformation can greatly improve the finance function—and elevate the role of the CFO. CFOs everywhere are using data and digital technology to drive sustainable growth.
For cost transparency in digital transformation, go agile
A “catastrophic waste of public money”, declared the Public Accounts Committee when assessing the Ministry of Justice’s electronic tagging service in January 2018. The Ministry of Justice, it said, had taken “an all-singing, all-dancing approach” to what could have been a relatively simple procurement exercise. To make matters worse, the project was running five years behind schedule at an estimated cost overrun of £60m. This isn’t unusual, nor is it confined to large public sector projects.
Cyber risk considerations during the M&A process
Cyber Security Data breaches are a constant in today’s headlines, but in recent years the risk has been front and centre of some of the most significant M&A deals. In 2017, Verizon discounted its acquisition price by $350m when Yahoo belatedly disclosed that it experienced several massive breaches.
How can boardrooms effectively manage cyber risk?
Cyber Security The frequency and severity of cyber attacks are on the rise around the world, making it more important than ever for finance directors to be involved in the fight back. No longer is it acceptable for CFOs to focus purely on numbers, they must help devise and enable strategies that keep the business profitable. This must include promoting cyber security; the consequence of an attack could be disastrous.
The growing importance of risk transfer and cyber insurance
Cyber Security As data mega-breaches dominate the headlines, businesses worldwide are focusing on how to manage and mitigate cyber-risk. The Marriott breach is only the latest in a litany of incidents whose repercussions will echo for a long time to come. Put simply, the current threat environment means breaches are inevitable; they are a cost of doing business in the connected world.
The critical questions FDs need to ask their security teams - Financial Director
Cyber Security The role of financial directors and CFOs frequently intersects with domains beyond financial management. What was true then is still true now. The exponential growth of data, the constant threat of cyber-attacks, and new regulations are placing mounting pressure on financial professionals to understand and adapt to key issues around data privacy and security.
The tech-savvy CFO
When Colin McKinlay became the CFO of Center Parcs, the owner of several high-end forest resorts across the UK, he brought with him an instinct for using all the technology at his disposal. The business he joined from travel giant Tui in 2017 had a sound finance function, but wasn’t capitalising on all the available means to drive value.
Lack of tech expertise at board level puts strategy at risk
Boards lack the technological expertise to fully understand the challenges and opportunities that data and technology present to their organisations according to a recent poll by ICSA: The Governance Institute and recruitment specialist The Core Partnership. The poll of governance professionals, which was first published in December 2018, found that just 51% of boards understand the challenges and opportunities that data and technology present to their organisations.
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