The value of the renewable energy market is set to grow from $880 billion to nearly $2 trillion by 2030.

Artificial intelligence (AI) is having transformative effect across energy and utilities. It is used to forecast demand and manage the distribution of resources, to ensure that power is available at the time and place it's needed with a minimum of waste. This is particularly important in the renewable energy industry, where it often can’t be stored for long periods of time and has to be used close to the time and location where it is generated.

The World Economic Forum predicts that AI will play an essential role in the world’s transition to clean energy. These gains in efficiency will be created by more accurate forecasting of supply and demand. 

Additionally, as we transition to a decentralized model of power generation and distribution, AI will play an important role in coordinating the integration of these networks. The strategy here is to create an “intelligent coordination layer” that sits between the power infrastructure and homes and businesses where power is consumed.

To give us greater clarity on how AI and other emerging technologies will reshape the future of the energy sector, we are joined by Luis Gonzalez, General Manager for Data Innovations in the Power Industry, Aboitiz Data Innovation.

1.       Compared to other industries/markets – like retail, financial services – how would you describe the state of modernization or digital transformation of the utility/energy (UE) sector?

2.       What are the main drivers calling for the modernization of the UE sector?

3.       Among the many technologies – cloud, big data, mobility, IoT, machine learning/AI, etc – which are drawing the most interest from leaders in the UE sector and why?

a.       How do you see UE adopting these technologies to transform the business?

b.       How do you see UE adopting these technologies to meet ESG aspirations?

4.       What can UE leaders learn from other industries or companies?

5.       Deregulation and open market competition will eventually come to the energy sector? Can you share your views on how UE leaders can navigate this complex landscape, including under evolving regulation?

6.       Where does Aboitiz Data Innovation fit in this transition to this data-driven energy sector?

Large companies typically have subsidiary businesses that sell to each other. The idea is to build capability to deliver a vertical stack of services and expertise, and essentially, keep the money in the group. The problem is that most subsidiary businesses have enough independence to decide on what tools and technologies they can use to support their business. Sister companies become just another supplier. 

The challenge arises when it comes to consolidating the data and transactions, to the parent company. According to EY, organisations are fighting through a thicket of clashing policies, processes and technologies when handling intercompany transactions.

99% of intercompany stakeholders participating in a Dimension Research study say intercompany is becoming increasingly complex and challenging, with 58% reporting that the volume is more than five times the annual revenue. 

But in the quest to understand the challenge, 86% agree that intercompany is a very much misunderstood concept, while 81% agree that intercompany is complex and messy.

In today’s PodChats for FutureCFO, we are joined by Victor Ng, regional vice president for Asia, BlackLine, to talk about the concept of intercompany accounting.

1.       What is intercompany accounting?

2.       How does it relate to intercompany financial management?

3.       What are the issues businesses face with intercompany accounting and cash flow management?

4.       How do these challenges negatively impact finance & accounting operations? Overall business outcomes?

5.       Refinitiv data reveals that global M&A value reached US$5.8 trillion in 2021, up 64% from 2020. Why and how is the automation of intercompany accounting crucial for post-merger success?

6.       For CFOs, what are the intercompany red flags they need to be looking out for before they affect the business?

7.       Can you name some best practices to achieving intercompany accounting excellence?

8.       Advise on the next step for CFOs looking to being in intercompany accounting practice?

The travel industry has been at the hard hit by the pandemic. But with markets around the region and globally beginning to re-open to travellers, perhaps we are nearing the light at the end of the tunnel for the industry.

According to Deloitte’s 2022 travel outlook, corporate travel demand should improve significantly when workers return to offices in greater numbers, enabling more client visits. Even assuming the best possible COVID-19 outcomes, not all road warriors will be eager to return to their pre-pandemic frequency. At the same time, CEOs and CFOs will likely continue to closely scrutinize travel spending and return on investment after operating successfully with so few trips.

One of the topics we’ve been covering with finance leaders around Asia during the pandemic has been the issue of transformation – both the whole of business transformation and the digital transformation of finance itself. Joining us today to shed light on how finance is Timothy Williams, CFO, FCM Travel in Asia.

1. Do you need to transform finance to enable (facilitate) a more holistic business transformation?

2. Do you believe that continuous process optimisation is the foundation for sustained competitive advantage?

3. Reviewing your process and technology direction, what one area would you like to see improved/changed upon?

4. How would you rate your finance team’s competency to drive successful transformation? Which one area do you think the team struggles with the most?

5. If the overarching goal is to create a sustainable transformation of finance, what more needs to happen?

6. Where do you expect your focus will be in 2022?

7. What is your advice to other CFOs in their respective transformation journeys in 2022 and beyond?

CIOs have traditionally overseen the design, development, and management of IT systems for the internal use of the CIO’s company. But as businesses become more technology-led, the CIO is being brought into the development of solutions that can be sold and marketed to other companies.

In a survey of CIOs by IDC, 58% says they proactively identify business needs and opportunities, up from 28% the year before. 53% of CIOs are spending more time collaborating with LOBs in operations and product development this year. 

In this PodChats for FutureCIO, we are joined by Julio Bermudez, vice president for APAC for Amplitude to talk about this increasingly important role of the CIO as strategic advisor to business.

PROPOSED QUESTIONS:

1.                   How has the pandemic-induced increase in adoption of digital products changed the priorities of today’s CIOs?

2.                   What are CIOs getting wrong in their digital strategies? 

3.                   What then should CIOs focus on to ensure their digital strategies truly drive business value?

4.                   Can you share some examples of companies with effective CIOs? 

5.                   How can product data help CIOs continue to stay relevant and ensure business growth?

Insurance is a competitive landscape, more so these days as regulation evolve, customers become demanding and picky with what products they need and how much they are willing to pay for. The entry of insurtech has also opened new avenues for insurers to market products, in some cases, create totally new offerings in new locations, not possible with the conventional model for marketing insurance.

IoT-enabled insurance involves the utilization of drones, machine learning (ML), telematics, robotic process automation, wearables, artificial intelligence (AI) and augmented reality (AR) solutions to provide improved and effective insurance services. 

The IoT insurance offer services, such as immediate risk management, claim management and reduction of operational costs of the organization during claim settlement. It is widely used across various industries, such as banking, financial services and insurance (BFSI), automotive, transportation, healthcare and construction.

In today’s PodChats for FutureIoT, we are joined by Andrew Yeoman, CEO of Concirrus, to give us a better understanding of how insurers are using IoT to reimagine insurance.

1.       How has the insurance industry in Asia evolved in the last five years?

2.       It can be argued that IoT is still relatively new as applied in insurance. Can you cite one or two recent innovations around the use of IoT in insurance?

3.       What is the value proposition of IoT in the provision of insurance products and services?

4.       There are two aspects of IoT that need to be addressed in insurance: risk management and the other is around data privacy and protection.

a.       How are insurers using IoT to better manage their risks? (insight into behavioural analysis)

b.       In your observation, is the understanding of IoT technology, sufficiently mature around data privacy and protection?

5.       How important is having a clear business model to benefit from IoT data? And how can businesses adopt such a model?

a.       What skills, expertise, the experience must an insurer have access to benefit from the use of IoT?

b.       When looking to tap IoT, what questions should leadership ask their CIO/CTO to ensure they are in the right direction and frame of mind? 

5.       What does Concirrus bring to the table?

Respondents to Deloitte’s fourth-quarter 2021 “CFO Signals” survey revealed the key challenges facing CFOs and finance leaders include attracting and retaining talent, and wage inflation, along with strategy execution and the pace of technology developments and innovation, as the internal risks that worry CFOs most. 

Further, the survey listed inflation, supply chain challenges, potential policy and regulatory changes, as well as COVID-19 and its variants, as the CFOs’ top external worries.

CFOs have identified talent, financial performance, and growth as the top three priorities for 2022, followed by strategy setting, cost management, capital allocation and IT infrastructure.

FutureCFO spoke to Srinivasan Venkat Padmanabhan, chairman of the Manas Group, for his take on how finance is evolving in 2022, and how CFOs and finance heads must bring together the finance team to meet the challenges of the post-pandemic economy.

1.              As a head of finance, what were the three most challenging aspects of 2020 and 2021?

2.              How do you see technologies helping drive digital success for finance functions?

3.              As a leader yourself, how do you encourage the restructuring or modernization or transformation of finance to support the overall digital transformation that the business is going through?

4.              Can you cite one or two ways in which finance leaders can improve the return on the organization’s digital investments?

5.              What do you see will be the most important functions of the CFO or the heads of finance in this post pandemic model that we are in right now?

Finance leaders are increasingly focused on digital transformation initiatives despite having to deal with other pressing issues like revenue, profitability, skills shortage during these periods of continuing uncertainty.

Granted we’ve had two years to adjust to the new ways of doing business and working, uncertainties are always more pronounced during times of heightened crisis – as when there is a new round infection outbreak.

The 2021 Gartner CEO Survey: The CFO Perspective noted that 82% of CFOs report investments in digital are accelerating, exceeding investments in other areas like talent, supply chain, business services or fixed assets,

Should digital be the be-all and end-all of the CFO’s priority in 2022? In today’s PodChats for FutureCFO, we are joined by Mr Goh Yin Shian, Finance Director, Teckwah Industrial Corporation Ltd – a Singapore company best known for the manufacture and distribution of paper packaging products.

1.     Do you need to transform finance to enable (facilitate) a more holistic business transformation? 

2.     What is the role of finance in a digitally transformed enterprise? 

3.     Do you believe that continuous process optimization is the foundation for sustained competitive advantage? 

4.     Reviewing your process and technology direction, what one area would you like to see improved/changed upon? 

5.     How would you rate your finance team’s competency to drive successful transformation? Which one area do you think the team struggles the most? 

6.     Do you believe you are equipped to meet your sustainability objectives? 

7.     Where do you expect your focus (as finance) will be in 2022? [sustainability]

8.     Where is the finance organisation on its transformation journey? 

9.     If the overarching goal is to create a sustainable transformation of finance, what more needs to happen?

According to John F. Kennedy, the 35th U.S. president, crisis when written Chinese comprises two brush strokes: one representing danger and the other opportunity.
The past two years have proven that humans will adapt to the changes to survive, and in many cases thrive. Businesses that refuse to adapt will naturally suffer the most and longest during the crisis. Those able to pivot quickly will realise new opportunities await them. Indeed, the pandemic has proven to be an opportunity as much as a struggle for survival. Mergers & Acquisitions, for example, are at an all-time high.
Of course, when you are dealing with something, there will be resistance as there will be circumstances requiring you to test new ideas. Not every situation has a proven methodology for tackling it. Sometimes, you will have to try out an idea if it works, or doesn’t, for the condition in front of us.
Srinivasan Venkat Padmanabhan, chairman of the Manas Group, looked back at the time prior to the COVID-19 pandemic, describing it as a period when physical travel was a requisite of good business practice. 
1.              Describe for us how leaders behaved prior to the pandemic

2.              What do you think are the 3 most significant qualities that stood out in 2020 and even pivot the business moving forward and where we are today?

3.              What are your expectations for this year and the years to come in terms of what business leaders are expected of?

4.              What are your aspirations for 2022?

For years, information security has been floating in the Top 10 IT strategies of many organisations. In the last 3-5 years, the frequency, tenacity and boldness of cyber attacks have moved cybsercurity not only to the top of the CIO’s priority list, but to the C-suite and Board as well – becoming in many cases, part of the business agenda.

In the US, for example, the cybersecurity community are pushing for a bill that will enforce responsibility to the CEO and the board if cybersecurity controls are not adequately done. 

The responsibility for security typically rests in the hands of the Chief Information Security Officer. But as security becomes intertwined in an organisation’s digital transformation journey. How do we see the role of the CISO evolving, and for that matter that of the CIO?

Welcome to PodChats for FutureCISO. In today’s episode are joined by Abdulla Al Attas, head of cyber security, Plus Malaysia.

PodChats for FutureCISO: The responsibility of leadership in cyber security and IT

1.       If we look back at 2020 and 2021, security firms and analysts noted an increase in cybersecurity breaches/incidents. Despite the importance given to cybersecurity what are organizations doing wrong?

2.       In 2022, to what degree is cybersecurity given importance at the C-Suite and Board level?

a.       How is this ‘importance’ realised in terms of investments in time and resource?

3.       Given that organisations continue to be targeted by criminal elements, does this mean that organisations and its leadership are not doing enough? Or doing it wrong?

4.       To give it the importance it deserves, how should leadership and the board approach cybersecurity?

5.       What questions should the board be asking itself, the C-suite, the CISO-CIO when it comes to cybersecurity in 2022?

6.       What will be important to the CISO in 2022?

7.       What do you see challenges facing CISO in 2022?

Death and taxes are said to be life’s only two certainties. As organisations continue their digital transformation journey, you can add the certainty of an expanding cyber threat landscape and the unrelenting barrage of attacks that come with it. 

Peter Firstbrook, Gartner research vice president, says “The pandemic accelerated hybrid work and the shift to the cloud, challenging CISOs to secure an increasingly distributed enterprise — all while dealing with a shortage of skilled security staff.”

In today’s PodChats for FutureCISO, we are joined by Mark du Plessis, MD and Security Lead for Southeast Asia, Accenture for his take on the top challenges that CISOs and security pros will face in 2022 and beyond.

1.       Looking back (2020-2021), what has been the single biggest challenge for the CISO and security team? How have they responded to this challenge?

2.       Are CISOs in Asia able to adapt to talking in business terms to the CEO and the Board? 

3.       What are the key cybersecurity trends and challenges that organisations are currently facing (2022)?

4.       What are the implications of these challenges for CISOs and how does this affect the company’s security strategy and posture?

5.       What are some best practices or must-haves that constitute a sound cybersecurity strategy in 2022?

6.       What is the one piece of advice for the CISO in 2022 to help guide him or her in tackling the role?