Understanding Financial Transformation: Key Insights for CFOs and Accountants

In this episode of Blood, Sweat & Balance Sheets, guest host Stefan van Duyvendijk, Accounting Operations Evangelist at FloQast, sits down with Chris Hennesey, AWS Enterprise Strategist at Amazon Web Services and former Technology CFO at Capital One, along with FloQast CFO Razzak Jallow. They explore the findings of FloQast’s latest survey, Embracing Financial Transformation: What It Is, Why Organizations Should Want It, and How to Achieve It. The discussion highlights the critical role of accountants in driving transformation, the gap in understanding between CFOs and accounting teams, and the new frameworks that can guide organizations toward lasting change. 

They also dive into the growing influence of AI in finance, exploring how both CFOs and accountants view its impact on their roles and why AI is set to be a permanent fixture in the transformation landscape.

Key Takeaways:

• Accountants are pivotal in leading financial transformation efforts within organizations, yet many teams lack a cohesive vision.
• CFOs are more familiar with financial transformation than accountants, highlighting a need for greater awareness and collaboration.
• AI is recognized by both CFOs and accountants as a key driver of productivity and transformation, and it’s here to stay.
• AI's role in finance is growing, with both CFOs and accountants optimistic about its potential to increase productivity and enhance transformation initiatives.
• New frameworks developed by FloQast can guide accounting teams in achieving effective and impactful transformation.

For the full study, visit: Embracing Financial Transformation https://get.floqast.com/asset-embracing-financial-transformation