Business as (un)usual in Finance & IT
Feb 23rd, 2021 from:
Group CFO at TORM
Bo Hjorth Jensen
CIO at TORM
GVP Head of Customer Marketing ERP Pillar at Oracle
2020 was our collective stress-test, and 2021 looks much more promising. Hope has returned and new opportunities are emerging. A generation of digital-savvy leaders in shape of CFOs and CIOs are now trusted to lead the effort to prepare for a new business environment and a much-changed world of work —by building organizations with built-in capabilities to evolve and rapidly adapt to change.
Join this session to hear how Finance and IT leaders are confronting difficult technology and human challenges—while at the same time meeting the demands of business-as-(un)usual.
08:45 – 09:00: Dial in to Zoom
Guests can dial in, get comfortable, check their technology is working, turn off all distractions, and get ready for the discussion.
09.00-09.10: Welcome by twoHundred:
Opening remarks from the facilitator to set the scene for the morning: Context, how it will all work and some house rules.
09.10 – 09.40: Kim Balle, Group CFO and Bo HjortH Jensen, CIO from TORM will present how TORM is currently developing a groupwide Strategy, confronting difficult technology and human challenges—while at the same time meeting the demands of business-as-(un)usual focusing on process optimization, performance, IT, and organizational design.
A fragmented CFO/CIO area. 2020 has been a special year for TORM due to COVID-19, Navision upgrade (gone-bad) and a very fragmented CFO/CIO area. TORM is well advanced in digitalization, BI/BA, business partnering, reporting, governance/control framework, etc., but a clear and coherent strategy on IT, process optimization, and organizational design is needed.
Digital development – RPA and AI.
“Most finance and IT functions may have been through the same thing, but the big difference from the past lies in the digital development and in how we, as IT and finance managers, develop innovative solutions that both simplify and improve business processes while IT and Finance function as reliable and value-adding partners to the company”.
TORM has dug deep into the digital toolbox and now uses RPA and AI, among others.
• RPA (in a non-high transactional company) which they started with 5 months ago and have 9 running today.
• algorithms (AI toolbox) as value creation, reporting-on-demand – that is, how they have embedded these tools (and new tools) that are possible most sensibly.
09.40-10.20: Group discussion: Business as (un)usual – Optimism, Automation and Artificial Resourcing.
Steve Cox, GVP Head of Customer Marketing ERP Pillar at Oracle, will introduce the group discussion with a short presentation, after which participants are divided into virtual groups to discuss the below 4 questions.
“It is now clear that by leveraging the variety of sources of information and insight, and by digitizing business processes and nurturing a growth mindset, you will achieve much higher earnings while reducing its costs”
1. Is your organization accelerating the use of new technologies?
2. In your organizations, are finance and IT involved in customer-related discussions and issues?
3. When it comes to innovation, is finance a participant or do they just approve the budget?
4. Would you say your organization is digital?
10.20 – 10.30: Wrap-up and Thank you