CFO — the Lord of Big Data
Digitization does not replace a successful core business, but supports it. Leading companies therefore understand digital business transformation as a change process in which the existing (core) business is profitably developed further by increasing customer value through the use of innovative business models and digital technologies. This requires, on the one hand, knowing the needs of customers as precisely as possible (keyword Big Data) and, on the other hand, being able to correctly assess and use the possibilities of digital technology. And this is precisely where leaders like the CFO must see their new role in a company — digitization means actively driving transformation, setting priorities, and efficiently allocating resources and priorities.
The salient features are the acceleration of change, the virtualization of companies, and that business models are becoming increasingly unstable. The company’s position in the value chain is changing ever faster and requires flexibility. This means that the revenue streams are only stable in the short term. Differentiation from others is becoming increasingly difficult, new competitors are emerging at short notice, and disruption strategies are becoming commonplace.
The fundamental changes in the framework conditions require the CFO to strongly adapt his mindset and orientation to a life with increasing uncertainty and ever-shortening cycles. The extraverted (environment) view must be weighted much more heavily than the introverted view (company). Finding and analyzing new revenue streams becomes the core task. There is a much greater demand for proactive management of the new data streams, active shaping of the digitization process, high flexibility and permanent resource optimization.
Not to forget, a high level of social competence in dealing with the “victims” of digitization and transformation are becoming increasingly important. The CFO is repositioning himself in the role of the “Lord of Big Data,” the proactive shaper and user of data streams.
About Christina Johansson
Born 1966, Swiss and Swedish citizen, Masters Degree in Business Administration, additional degree in English and German Studies, University of Växjö/Lund, Sweden; CFO since October 2016.
2014 Technics Group, Zurich, CFO; 2007 Pöyry Energy and Management Consulting Business Group, Zurich, Vice President Finance; 2005 Zeag Group, Spreitenbach, CFO; 1996 Amcor Rentsch & Closures Group, Rickenbach, various senior finance functions; 1993 Securitas Group, Frankfurt, Germany, Financial Controller and Treasury Manager
Member of the Board of Directors Optikart AG, Wangen b.O.