Why modern CFOs should take inspiration from great orchestra conductors

Why modern CFOs should take inspiration from great orchestra conductors

By Carole Ferrand, CFO at Capgemini

As Gustavo Dudamel, one of the world’s most famous orchestra conductors and the current music director of the Opéra national de Paris said once, the collaboration between the conductor and the orchestra is critical “especially when the conductor is one more member of the orchestra, in the way that you are leading, but also respecting, feeling and building the same way for all players to understand the music.”

I like this quote, firstly, because of my personal interest in music, but also because I think it is the perfect metaphor for the partnership between the CFOs and their organization – particularly today.

The evolving role of the CFO

Today, the CFO has a much more instrumental role in guiding multiple areas of the business, creating synergies throughout the company, and delivering strong, record-breaking performances.

I see this evolution so clearly in my own work.

So much has already changed since I joined Capgemini four years ago, both within the company and beyond. Capgemini has transformed to become an even more responsible business and a strategic partner to our clients to get the future we all want.

And the CFO’s job has become much more like the role of an orchestra conductor than ever before.

Here are five reasons why.

1.   The conductor is responsible for bringing a musician’s work to life. Similarly, the CFO is focused on making their company’s vision a reality.

While every team within an organization should be driven by their company’s vision, the Finance department has a unique opportunity to really facilitate company strategy and help the business to achieve its objectives.

And as its leader, the CFO is responsible for interpreting this vision, and translating it into everyday activities that allow the finance department to act as true value creation partner.

For example, through driving and financing complex acquisitions and integrations that help achieve growth goals, or by implementing a green finance framework to help meet sustainability targets.

These are just two real examples of how a finance team may serve its Group strategy.

Moving forward, I believe CFOs and their teams can – and must – do even more to help their companies realize their extra-financial objectives, specifically those around diversity, inclusion and sustainability.

To help Capgemini achieve these, I’ve been involved in leading my department through our own transformation journey, integrating new technologies aimed at changing the way we operate to become better business partners for the Group. 

2.   A conductor sees everything from their position and can quickly spot issues. Likewise, a CFO must be able to have full visibility over the business to protect it from risks.

With increasingly complex regulations, extra-territorial reach and regulatory pressure, as well as a rising costs of failure, it’s more important than ever for CFOs to successfully safeguard compliance.

That’s why, as part of transforming Capgemini’s Finance department, I’ve been looking at how we can strengthen a proactive finance compliance framework that supports daily activities.

Beyond just compliance, owing to Finance’s central role, the CFO can also help guide business strategy by providing valuable financial analytics from across the entire company, flagging areas of both strength and weakness.

While conductors have their podium to stand on, CFOs can also use digital platforms to help them have a more holistic view of what’s happening in the business. Integrated digital tools such as AI and advanced analytics are critical to giving CFOs the visibility and insights they need to do their jobs well.

3.   Just as a conductor keeps the beat, the CFO drives efficiency – both of them creating order out of chaos.

I believe a good CFO can bring a lot of value to the company by driving “Finance Excellence”, and by empowering their department to role model efficiency.

The way that I am doing this at Capgemini is by working with my team to provide the business with global platforms that enable more effective processes and efficient operations.

Like a great conductor helping musicians to play their instruments more skilfully to create incredible music, we can help employees to use available tools and latest technology solutions more productively to create more business value.

4.   For both the conductor and the CFO, it’s all about the people.

A conductor relies on talented musicians to make music, a CFO cannot achieve results without a passionate, skilled and dedicated team.

CFOs know that it is our people that will drive real change – both within our companies and beyond. And we know that when we enable them to perform at their best, everyone benefits.

I see this in action at Capgemini, through the Finance Transformation Community made of changemakers and young talent across all business units and geographies. This community has already been a key enabler of both Group strategy and Finance strategy.

We are working to further empower the Finance team by further equipping them with the necessary capabilities (e.g. advanced analytics, complex deal shaping) and leadership mindsets, and focusing on future skills development. Reskilling and upskilling is also at the heart of our strategy, prioritizing data literacy, business partnering skills (e.g. problem solving and communication) and compliance related know-how.

But no team can be at its best without ensuring equal opportunities for all. We are also focused on enhancing female gender balance through promotion, recruitment, investment in ongoing leadership development of key female talent, and by ensuring an inclusive work environment.

5.   Like a conductor, a good CFO must stay at least one beat ahead.

A composer cannot do their job of guiding musicians through the music without looking ahead – they must be ready for every single note, melody and crescendo that will be played.

Similarly, CFOs today must also be aware of all the trends, shifts and disruptions that could come our way.

We are living in a rapidly evolving world, in terms of technological development, client needs, regulations, societal expectations and more.

By keeping an eye out on trends and being open to constantly evolving ourselves and our departments, we CFOs can leverage our unique central position to lead our teams and companies to get the future we want. 

Personally, I believe this is an incredibly exciting time for CFOs and our departments, and I’m ready to cue the music and get started on future value creation!