As Seen in CFO Studio Magazine Q3 2016 Issue
THE WINNERS OF THE 2016 CFO INNOVATION AWARDS SHARE THEIR THOUGHTS ON STAYING AHEAD OF THE CURVE
Innovators are men and women who make a difference in their chosen endeavors. Through their energy, leadership, identification of opportunities and risks, big thinking, unwavering dedication, and farsightedness, the 12 CFOs being honored this year are bettering 12 companies or tax-exempt organizations. Their bold actions have brought increased resources and/or respect to their employers. We asked each of the winners what they would say about CFOs as innovators. Several spoke about creating or carrying forward the company’s strategy. Others mentioned getting the most from their team. What these CFOs do every day is not unique, but it is highly successful because they have clear goals, leadership agility, and a plan for dealing with risk.
CFO SUCCESS AWARD- TECHNOLOGY
The CFO who has led technological improvements across the organization that have resulted in significant enhancement in operations, productivity, information, and/or profitability. The judges looked for a CFO who was a big part of his or her organization’s technology transformation.
CHIEF FINANCIAL OFFICER, BENJAMIN MOORE
“To be a CFO innovating with technology is to realize that the focus needs to be on a good implementation and all that entails, but more importantly, it is to be focused on the processes around the new technology and the people who perform those processes. Change management is vital to any good implementation. Continuous process improvement is an area of focus as well. Good and trusted advisers are key. … If you are innovating at any level, then you know that there are no sure things. The implementation could be rough, and you’d then have customer, vendor, and/or employee dissatisfaction. You could have cumbersome processes or a rejection due to poor change management. If you are pushing for change, the status quo will always push back. What makes for success is overcoming the doubt and persevering. …The main deterrent to innovation in a finance organization is that most people and organizations do not like or accept change easily. Many a career has been dashed on the shoals of the status quo. The key is to get buy-in one way or another and to push through the difficult spots. The process is not for the faint of heart, but the outcome is worth it.”
FINALISTS FOR CFO SUCCESS AWARD- TECHNOLOGY
Jorge Garcia, Chief Financial Officer, D&M Holdings
Ryan Kennedy, Chief Financial Officer, Holy Name Medical Center