In this episode of The EY Better Finance podcast, we are joined by Deirdre Ryan, Global Finance Transformation Leader, and Andrea Gronenthal, Americas Strategic Tax Transformation Leader from the EY organization, to delve into key findings from the EY Global DNA of the CFO survey.

The episode also features insights from two seasoned global executives : Joseph J. Wolk (Joe), the Executive Vice President (EVP) and Chief Financial Officer (CFO) of Johnson & Johnson, and Nick Priday, the CFO of Dentsu Group Inc., who were interviewed as part of the research.

During the discussion, Deirdre and Andrea examine three paradoxes that CFOs confront on a daily basis: balancing short-term and long-term value, navigating the tightrope between safety and boldness, and transitioning from a traditional skill set to assuming a strategic leadership role.

Enjoy this engaging exploration of the challenges and complexities faced by today's CFOs, and the multifaceted role they play in shaping the future of finance.

The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization.

© 2024 Ernst & Young Global Limited

In this episode of The EY Better Finance podcast, Jack McCullough president of The CFO Leadership Council, joins host Myles Corson to explore what makes an elite CFO.

In this episode of The EY Better Finance podcast, Jack and Myles dive into the world of CFOs, exploring the unique qualities that make them successful. Jack highlights that it's not just skills, but also personality traits, that can make an exceptional CFO stand out. Jack shares valuable insights on how to develop these traits and build stronger cross functional relationships.

Jack emphasizes the importance of fostering a culture of transparency where everyone feels comfortable sharing ideas and learning from mistakes. He also explains that as a CFO, it can be crucial to help everyone understands the company's goals and values.

In this episode, Jack also stresses the significance of establishing a personal brand as a CFO. This brand reflects one's expertise, reputation, and values within the industry. He discusses the role of a CFO as a storyteller and provides examples on how to create narratives that resonate with specific audiences.

The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization.

© 2024 Ernst & Young Global Limited

In this episode, host Myles Corson and Phil Shelley, Chairman of doc Stribute, delve into the significance of clear and consistent CFO communication across all business areas. They explore its role in attracting the right shareholders, stakeholders and employees, and highlight the actions taken by successful CFOs to foster effective communication.

The episode underscores the importance of cultivating the right organizational culture to effectively execute a company's mission and vision. Without effectively communicating these goals, CFOs and their organizations risk attracting the wrong investors and talent, especially in a market where prospective employees and shareholders prioritize understanding the culture they will be a part of.

The episode also discusses the role of technology in the business world and the need for organizations to strike a balance between maintaining alignment and adopting new technologies into daily employee tasks. They also discuss Mergers and Acquisitions, emphasizing that transparent communication, regarding the acquisition's objectives, can be crucial for smooth transactions of this nature.

The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization.

© 2024 Ernst & Young Global Limited

In this episode of the Better Finance podcast, Perry Wiggins, CFO at AQPC, discusses technology's impact on finance and what it means to be a human CFO.

As the chief financial officer (CFO) for American Productivity and Quality and Productivity Center (AQPC), Perry Wiggins leads the finance and accounting teams, as well as servesserving as a member of the executive team. His career before AQPC centered on the health care and non-profit sectors.

While there is often a substantial focus on technology and its impact on finance, Perry is passionate about using technology as a tool and an enabler, but not forgetting the human dimension and the idea of the "human CFO." Through his experience, Perry has realized that he can find a way to be a good steward of the organization, a great financial leader, but also be mindful of the impact that his decisions have on people's lives.

Perry shares perspectives on the findings from the APQC 2023 Financial Management Priorities survey, including why he expects to see the number of organizations using advanced data visualization tools to rise rapidly from the current 15%.

The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization.

© 2024 Ernst & Young Global Limited

In this episode of the Better Finance podcast, Noah Barsky, Professor at Villanova University, joins host Myles Corson to explore the impact of AI across finance function.

Host Myles Corson talks to Noah Barsky, a professor at Villanova University, about the use of artificial intelligence (AI) in the finance function. Noah brings his insights from an article he wrote for Forbes and a survey conducted by EY teams.

Noah dives into the exciting opportunities and challenges that AI presents in finance. He highlights why senior leaders in the C-suite and boards should have meaningful discussions about incorporating AI into their operations. However, many organizations can struggle with this because of distractions and ineffective leadership.

Noah explains what can make a true leader — someone with the ability to think critically, communicate clearly and have a strong sense of purpose. He emphasizes the importance of leaders who can guide their teams, make informed decisions and build trust. He also warns against being dependent on specialized knowledge, as it can hinder decision-making and hold back progress.

Noah stresses that successful AI adoption can require not only understanding the business, but also anticipating future outcomes. He emphasizes the role of bold leadership in setting clear goals and creating a practical plan to achieve them. Additionally, Noah underlines the need for a culture that encourages open discussions about effectively integrating AI into company practices.

The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization.

© 2023 Ernst & Young Global Limited

In this episode of the EY Better Finance Podcast, Myles Corson is joined by Christopher Volk, business leader and author of the book, The Value Equation, a guide to wealth creation for entrepreneurs, leaders and investors.

Christopher's distinguished business career has included taking three companies public, two of which he founded. Leading those companies, he evolved the ideas that inform the reader that wealth creation for shareholders was a more important measurement of business success than typical earnings metrics. His approach provides a roadmap to how successful companies can create wealth through strong business models.

With this approach, there are six key variables that combine to deliver equity return. The key for the CFO is to dissect the business model, understand where the variables are, and track them over time. The objective is to make the business and the equity worth more than it costs to create. The key stakeholders are customers and shareholders. If a business can deliver value for them, other stakeholders, such as employees, suppliers and communities will all benefit from the wealth created.

In a high-performing business, corporate culture is vital and strong communication should be at the heart of it. Employees should be empowered to put forward ideas and solutions, and not be held back by fear of disrupting positivity.

Finally, Christopher gives us a glimpse into a quote that inspires him and looks forward to a constructive future for finance as it exploits the potential of artificial intelligence (AI).

The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization.

© 2023 Ernst & Young Global Limited

This episode of the Better Finance podcast features Maria Montenegro, Chief Strategy and Innovation Officer, Wolters Kluwer, and James Paterson, Vice President and General Manager, CCH Tagetik, North America.

As organizations continue to drive change management and adopt behaviors that embed sustainability into their processes, the integration of ESG performance management with financial and operational reporting is quickly becoming the norm in driving improved business outcomes.

However, it's a complex task to harmonize financial, strategic, operational and sustainability goals. Finance executives may find themselves taking the lead to standardize and validate the accuracy of integrated financial and nonfinancial data.

In this episode, podcast host Myles Corson discusses with Maria and James how leveraging their corporate performance and ESG technology platforms from Enablon and CCH Tagetik can help provide a centralized source of accessible and reliable data. They explore how this increases collaboration and integrates risk management and performance improvement with reporting.

The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization.

© 2023 Ernst & Young Global Limited

This special ESG episode of the Better Finance podcast features Brian Tomlinson from Ernst & Young LLP, and Alex Edmans, Professor of Finance at London Business School.

The environmental, social and governance (ESG) space is at a remarkable phase of its development, having gone from being a niche part of corporate and capital markets discourse to being part of the mainstream. The trends that have been driving that include market participants making commitments around ESG, large corporations embracing aspects of ESG disclosure, and in recent years, the ESG disclosure ecosystem being adopted by regulators in key markets across the world.

We appear to be at a high watermark for ESG, and Alex Edmans discusses how his paper, "The End of ESG," highlights how ESG should be mainstream for executives and investors. There are many risk factors and opportunities with ESG that can affect the long-term valuation of a company.

The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization.

© 2023 Ernst & Young Global Limited

In this episode of the EY Better Finance podcast, host Myles Corson is joined by Tom Hood, Executive Vice President of the American Institute of Certified Public Accountants (AICPA).

An early adopter of social media, Tom reveals how it has helped him engage with a new generation of finance professionals. Also, he provides advice for CFOs considering venturing into the world of social media.

The episode also explores Tom's work with the AICPA and the future of the Finance Leadership Group — a community of senior finance leaders who meet to discuss major issues and the future of the industry.

Tom discusses how new technologies, such as artificial intelligence (AI), are beginning to have a significant impact on the finance profession. And how these new technologies could help finance teams to focus more time on adding value across complex finance matters. This is achieved by reducing the amount of resources needed to complete simple and repetitive activities.

The episode explores how mastering these new technologies could lead to the reverse mentorship, in which seasoned financial professionals could benefit from the capabilities and experiences of their younger counterparts. This collaboration with other departments and age groups could help financial professionals widen their perspectives and skill sets at all levels.

The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization.

© 2023 Ernst & Young Global Limited

In this episode of the Better Finance podcast, host Myles Corson, Victor Casalino, Americas VP and CFO at Microsoft and Dave Helmer, EY Global Tax and Finance Operate Leader, discuss changes potentially impacting tax and finance today.

Results from the EY 2022 Tax and Finance Operations Survey indicate that, of the 1,700 companies across 45 countries that responded, 85% are scrutinizing their existing finance and tax operating models for issues that can potentially weaken their future impact. Many are finding it necessary to make dramatic adjustments in some key operational areas to keep pace with our evolving post-pandemic workplace.

Talent: Businesses are experiencing a short supply of finance and tax talent internally, particularly those with transformational skills in technology — e.g., AI, machine learning, data modeling — all of which can help drive speed and quality.

Legislative and regulatory changes: Dramatic changes globally sent companies scurrying to find skilled resources to identify and interpret myriad changes and make required adjustments within their company.

Sustainable plans for data and technology: 50% of survey respondents cited the absence of formal, viable data and technology plans as the number one reason they could fail to achieve their mission and vision.

Budget pressures and cost reduction: 74% of respondents said they had to institute cost reduction strategies due to the pandemic and economic downturn.

To help address these and other functional and operational challenges, many large companies are exploring co-sourcing more strategic and value-add activities in their finance and tax functions and partnering with teams outside their organization with deep knowledge and commitment to certain areas of the business. Successful co-sourcing enables companies to streamline and develop consistent processes, automate when possible, and optimize technology to drive value and speed.

The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization.

© 2023 Ernst & Young Global Limited