Farseer

📸 We've selected the highlights of the Finance Weekend 📊☀️ We want to say a huge thank you to everyone who contributed to making this event a success. It wouldn't have been possible without your participation and attendance! A big thank you to the panellists and lecturers for providing valuable insights about how globalization, technology, and sustainability are redefining the finance sector. 📢 🌐 Here’s a small recap of the Finance Weekend: ◾ Walter Farkas, in his lecture "The Commodity of the 21st Century," showed us how risk management with a human touch is a crucial asset in the modern financial sectors. ◾ Matija Nakic, in her presentation "CFO Tech Stack: Macros Are Like Spice Girls—So '90s," reminded us that just as the Spice Girls belong to the '90s, so do macros, emphasizing the importance of adapting to new methods and tools in an ever-evolving world. ◾ Zoran Stanković, Natasa Vuca, Branimir Bricelj, Vedrana Jelusic Kasic, and moderator Ivan Jurišić, in their panel "Strategic M&A Mastery: The CFO’s Playbook," focused on leadership and offered tactical insights during the panel. ◾ Anton Barbir, EMBA, and Matija Nakic, in their talk "Innovation as a catalyst of JGL’s tech-driven transformation," explained how innovation and technology are driving transformation in JGL. ◾ Boris Vujcic presented "The Future of Money: Central Bank Digital Currency," offering insights into the future of finance by discussing digital euros and their benefits. His presentation served as an introduction to the following panel ◾ Matija Kovacevic, Verica Teofilović, Ivana Krajinović, Josip Lasic, CFA, and moderator: Milan Listeš closed Finance Weekend with the panel "The Future of Finance - Where we will be in 10 years" on the evolution of finance over the next decade. A special mention goes to the Weekend Media Festival for the opportunity to organize the Finance Weekend! We look forward to next year’s edition! 🚀 #Finance #FutureofFinace #CFO #Farseer #FinTech

🔥 Pridružite nam se na Zagreb Financial Forumu – središnjem događaju za financijsku industriju, kojeg organizira Poslovni dnevnik! 🔥 Na konferenciji će govoriti ključni lideri, između ostalih i Andrej Plenkovic, predsjednik Vlade Republike Hrvatske, i Boris Vujcic, guverner Hrvatske narodne banke. Uz panel rasprave i intervjue, u fokusu će biti teme poput stabilnosti bankarskog sustava, fintech transformacije i ekonomskih izazova. Mi iz Farseera ćemo biti tamo – vidimo se 4. studenog u Sheratonu! Ulaznice su dostupne na linku: https://lnkd.in/df5vw9Tr #ZagrebFinancialForum #Farseer #Financije

What do you think are the main points that deter a CFO or a finance professional from buying an enterprise software? Well, according to our research and interviews conducted with CFOs, heads of controlling and controlling operatives, these are some of the key reasons: 🧩Failure to meet specific needs – customers often want customization. They can get suspicious towards vendors that are not flexible and don’t want to alter the product offered. 🏢 Lack of industry knowledge – when vendors lack expertise in a customer’s field, a customer can be doubtful about how well the product offered can solve their problems or meet their needs. 📁Lack of existing customers and references – if a vendor doesn’t have many references, a potential customer could see the product and the vendor as untrustworthy. 💬Poor communication – inconsistent communication between the vendor and the customer can also lead to the customer not trusting the vendor. 🛠️Integration challenges – difficulty in integrating the enterprise software with existing systems and data streams across different departments. 🤝Lack of a genuine sense of partnership – feeling like the vendor is there for profit and not because of a common and bigger goal. Do you agree with any of these? Let us know in the comments! Feel free to add any that we might have missed! #FPandA #Finance #FinTech #Farseer

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What do CFOs look for in vendors? It’s not always just about the product… In our recent research, we talked to CFOs and, among other things, asked them what they look for when buying B2B software. Here’s what they told us: $ Total Cost of Ownership - They don’t just focus on the subscription price. It’s key that they see a long-term ROI. For CFOs, buying new software must align with the company’s overall strategy. ✨Simplicity – The software has to be user-friendly and not too complicated. CFOs dread the costs of heavy training and onboarding. 🛡️Security – This is especially important in the FP&A area, dealing with the company’s sensitive financial data. ⚙️ Easy Integration – Never before have companies used as many different software tools. For CFOs, all of them must work together seamlessly. 📊 Proven Track Record – A history of successful partnerships is a must. CFOs prefer to work with vendors that have significant experience in their specific industry. 🔒 Reliability – They want a stable vendor, with a solid history, reputation, and recommendations from clients. 🤝 Support – Last but not least, they need a vendor that understands their needs and supports them throughout the process. What do you think is key when working with a new software vendor?

Ready to leave your traditional budgeting behind? Maybe it’s time to switch to rolling forecasts! 🔄 💡 What is a rolling forecast? A Rolling Forecast is a useful financial planning method that regularly updates predictions for future periods. Why choose a rolling forecast? ⏳ Saves up to 50% of your budget preparation time and increases profitability by up to 10% 📈 Projects 12-18 months ahead by incorporating the latest actual data as time passes 🔍 Forward-looking & adaptable 📅 Consistent horizon 🔄 Always up to date Find out how rolling forecasts outperform traditional budgeting by increasing operational performance and profitability. 📈🚀 Wanna know more? ⬇️ Click below! ⬇️ https://lnkd.in/d9TraMzb

What would you say are the biggest challenges that CFOs face? 🤔 Is it cutting costs? Or perhaps retaining the right talent? These are some of the challenges we highlighted based on our recent research: 💸Reducing costs - a significant challenge for CFOs. They have to make sure that reducing costs does not affect the quality of their products (or services), while increasing profitability. This is a tough one. 🖥️Lack of tech expertise - mostly junior, but sometimes senior staff. Finance is becoming more and more about tech, and finance leaders are on the forefront of solving this problem. 📊Data accuracy - CFOs have to make sure that unnecessary data doesn’t affect their ability to make accurate predictions or avoid costly errors. 🌟Talent acquisition and retention - building a capable and adaptable team can be a real challenge. (Especially because everyone wants small team of super overachievers.) 🔐Data security - one of the biggest concerns for any CFO. Strong cybersecurity measures are vital for ensuring the company’s financial health. 🎯Lack of defined KPIs - without clear goals, it is hard to prioritize and stay focused, making it harder to determine what is realistic to achieve and what not. 🌍External macroeconomic sensitivity - beyond anyone's control and can significantly impact financial plans. 💻Outdated (accounting) software - relying on outdated systems that slow down workflow and the company’s ability to grow. 🤝Complex cross-departmental decision making- involvement of too many people in the decision-making processes Which one of these challenges is the hardest for you to overcome? 🧐 #CFO #Farseer #FPandA #Finance #FinTech

What do you think absorbs the most of your time? ⏱️ We recently conducted research in which we asked CFOs, Heads of Controlling, and Controlling operatives from various companies this question. Their answers reflected what a financial leader of today invests most of their time in. Here’s how they spend their time at work: 1. They prepare data 📊 ▪️ Often stuck manually preparing and analyzing data for their monthly reports and cash flow monitoring. They must constantly update and interpret data from multiple spreadsheets. 2. They do operational tasks ⚙️ ▪️ Although they should work on strategy, they are often stuck in operations, and doing low-level tasks like approving payments and invoices. 3. They are in constant contact with other departments while managing their team 📢 ▪️ Communication and team management require a significant amount of time since they include explaining the importance of financial operations to non-finance employees, transferring knowledge to others, checking team members’ tasks, and handling organizational problems. 4. They schedule meetings and are in charge of correspondence 📅 ▪️ This includes reading and responding to emails, attending, and organizing meetings as well as back-and-forth communication. 5. They manage the company’s financials 💰 ▪️ Monitoring and managing working capital and CAPEX while also doing strategic planning. 6. They implement new technologies and manage tech-related issues 🖥️ ▪️ More and more of their time is allocated towards implementing new planning tools and resolving constant tech-problems that come up. You probably run into some of these tasks too. 🗒️ What's taking up your time?

📊 Inspired by the insights of the panel „The Future of Finance - where we will be in 10 years," held at Finance Weekend, we concluded that these are the most important items for the future of the finance sector: 🤖 AI and Personalization: banks will use artificial intelligence to understand their customers better through data analysis, helping them deliver a more personalized service. 🏫 ESG: Environmental, Social, and Governmental factors will influence a company’s financial performance and long-term sustainability. 🌐 Global Workforce and Flexibility: finance teams will have access to global employee pools, using freelancers and independent contractors, while CFOs adopt the “center office” model. 📱 Digital Currency: seamless integration with legacy systems will allow digital currencies to facilitate trade and economic opportunities for countries. Do you agree that these trends represent the future of finance or do you think there are more important things? 💰 #Farseer #FutureofFinance #FinTech #FPandA

This time, you'll read about using AI in business, its alignment problems, and Ilkka Paananen, a CEO who quite literally changed the game. ---- Want to receive new issues of Enterprise Punk in your inbox? Subscribe here: https://lnkd.in/dJzkATxE