Yesterday we had our 2nd "CFO Dinner", moderated by Rudy Aernoudt and hosted by Financebuilders. The combination of an interesting topic - The Future Role of the CFO - , an inspiring moderator, energized attendees (f.ex. ISS, Intersoc, Proximus, Sisera, HR/Valuebuilders, Cashforce, ...) and a tasteful location (Bien Soigné) made this a very inspiring experience.
After a short roundtable introduction, our moderator had a very original but yet very simple approach on how to make the evening interactive: pick your quote and share your point of view.
A few examples of the quotes picked yesterday evening:
- CFO should have as much contact with Customers as his/her Sales Colleagues
- CFO should always be Member of the Board of Directors (with/out voting power)
- CFO should always be paid with a Bonus
- Blockchain should be the CFO's responsibility
- CFO is responsible for the DSO
- CFO should ensure he has a backup
These quotes triggered a very interactive discussion whereby points of view of attendees where sometimes directly opposite to each other and we were challenged to think out of the box.
A few examples of the discussions: Are Bonuses driving "expected" behavior? How to make sure departmental targets are aligned with/in the overall company targets? Should there be combined bonuses? Can a longer DSO be a competitive advantage? Is making your own job redundant a key to succes?
We also briefly touched on "Financing for companies" and Mr. Aernoudt gave us some insight on the innovative SBIC (Small Business Investment Company) Program in US and why it is so difficult to implement in Belgium/Europe. A program to facilitate the flow of long-term capital to America’s small businesses. SBA does not provide capital directly to businesses. Instead, SBA partners with private investors to capitalize professionally-managed investment funds (known as "SBICs") that finance small businesses. https://www.sba.gov/sbic
On a different subject, one of the visions of our moderator was that in the (near) future, we will not talk/work about/within departments in a company anymore, everything will be merged; will become one.
During our dinner also the difficult concept of Blockchain was explained in a very understandable way. Blockchain will change our (professional) lives much faster then we all expect it to be. Billions of dollars/euros are invested in Blockchain today and existing business models will be disrupted very rapidly. Every (Business) process that does not have any "Value Add" will be eliminated by/because of Blockchain.
Closing the evening with a roundtable, all attendees were extremely positive, excited and indicated the evening was "above expectations". That is exactly why we do it!!
Special thanks to Prof. Rudy Aernoudt (good luck with TEDx on Monday ! ) and the attendees for a very inspiring evening. To Be Continued.
If you would like to be part of one of our future CFO Dinners yourself, let me know.
FINANCEbuilders is part of the VALUEbuilders Group and is a passionate, visionary Finance Interim Management company. We are committed to connecting great Finance people to the most challenging & fun assignments, whenever you need them.