Finance in 15

The results are in, and Canadians have elected a Liberal minority government. The election campaign featured vigorous debate about several issues that Canadian chief financial officers and business executives will want to pay attention to, especially when it comes to tax policy changes as the government looks to manage rising debt obligations.

In a special episode of our Finance in 15 podcast, Dean Landry, PwC Canada’s National Tax Leader, and Finance in 15 host Adam Boutros discuss the issues that matter most to executives like Canadian CFOs and the key impacts of policy changes on businesses. They also explore how businesses can prepare for what comes next and the importance of trust and collaboration among the government and business leaders. 

00:00- Adam’s introduction to Finance in 15

00:51- Dean shares his key takeaways from the election

02:29- Dean offers his tips for how finance teams can prepare for the future and be
proactive

04:26- Dean shares his thoughts on the key policy proposals in the election platform that
businesses need to pay attention to

07:02- Dean outlines how finance teams can measure success in the face of uncertainty
and ambiguity, and the importance of being proactive with your tax function

08:49- Adam shares his advice for how teams can be more proactive

09:27- Dean discusses the importance of integrating the tax and finance functions

10:40- Dean shares his thoughts on the impacts the election will have on tax from a
global perspective

11:43- Dean shares his final thoughts on the issue, underscoring the importance of
building trust and collaboration among government and corporations

12:31- Adam’s closing thoughts and conclusions
 

In the final episode of the first season, host Adam Boutros reviews some of the highlights from the Finance in 15 podcast so far. The episode reviews key takeaways and insights from episodes one through six, including concepts like the 3Ps of finance: people, process and performance, the process pillar and the ultimate goal of transformation in finance. Featuring snippets from guests Samir Bishara, Lee-Anne Kovacs, Kevin Ng, Marino Fremis, Marilyn Wang, Sebastien Doyon, Michelle Bourgeois and Alaina Tennison, the final episode provides a recap of the best learnings and nuggets of wisdom from the season. Be sure to tune into season two this fall for new episodes exploring emerging topics like ESG, developing the workforce of the future and cybersecurity.

00:00- Adam’s introduction to Finance in 15

00:21- Adam discusses how listeners have responded to the season

00:52- Adam discusses what will be happening in today’s episode- exploring key points from previous episodes and guests

01:27- Samir Bishara discussing the finance transformation journey

02:06- Adam reviews the three Ps of finance transformation and introduces the next clip from episode 3 with Lee-Anne Kovacs

2:56- Lee-Anne talks about the “People” aspect of finance transformation

04:06- Adam introduced the next clip with Kevin Ng

04:56- Kevin reviews the savings and efficiencies for automating tax processes

06:24- Adam introduces the next clip with Marilyn Wang

06:58- Marilyn reviews points about how to start improving data capabilities

08:33- Adam introduced the next clip with Alaina Tennison 

09:05 Alaina speaks about her experiences with significant finance transformation

10:20- Adam’s closing thoughts and conclusions

According to PwC’s Finance Effectiveness Benchmarking report, leading organizations take less than three days to close. They also have fewer errors for first-time processing of journal entries, and they spend an average of three times more effort on reporting and analytics for improved business performance. For many finance companies, accelerating the close is an ongoing challenge. In this episode, host Adam Boutros sits down with Jill Satre, a partner in Risk Assurance Services at PwC Canada and Marino Fremis, Finance Transformation Lead at PwC Canada, to explore the compliance processes that can slow down the close and opportunities for improvement to ultimately deliver more value to the business. We offer tips for speeding up the process without compromising on quality, and why accelerating the close is such a crucial opportunity for finance companies. 

00:12- Adam introduces the theme of today's episode: accelerating the close

00:34- Adam introduces today's guests: Jill and Marino

00:48- Jill and Marino provide background on what they do at PwC

02:15- Marino dives into the meaning of "accelerating the close" and what it means to him

03:22- Jill explores the role of compliance in the close process

04:47- Marino discusses opportunities that usually have the biggest impact

06:17- Jill and Marino discuss how companies can get deeper insights for running their businesses by reimagining their compliance processes.

08:10- Marino offers his take on where companies should start with accelerating the close

09:34- Jill and Marino discuss strategies for working with organizations that help them through change management

11:29- Jill shares her final thoughts on accelerating the close

12:11- Adam's closing reflections

PwC’s Finance in 15 podcast series offers finance executives and business leaders insight into the pivotal ways finance can increase strategic value for their organizations. In this episode, our specialists discuss the last of the 3 Ps of finance transformation: performance. As finance teams struggle to produce data fast enough to help the business make key decisions, performance is an essential component of the transformation journey today. During the episode, National Future of Finance Leader at PwC Canada Adam Boutros sits down with Marilyn Wang, a Partner in PwC Canada’s One Analytics group and Sébastien Doyon, who leads the company’s Quebec finance transformation practice. They discuss trends around performance in finance and the tools leaders need to get started on the performance stage of their journey.00:12 Adam introduces today's episode- part two our the discussion on performance in finance transformation00:27 Adam introduces today’s guests: Marilyn and Sebastien00:47 Sebastien and Marilyn discuss some of the key trends around performance and finance04:35 Marilyn and Sebastien explores how organizations can get started on the their journey of finding the right tools, solutions and technologies for their finance transformation journey07:33 Adam’s reflection on the interview

PwC’s Finance in 15 podcast series offers finance executives and business leaders insight into the pivotal ways finance can increase strategic value for their organizations. In this episode, we discuss the last of the 3 Ps of finance transformation: performance. As finance teams can struggle to produce data fast enough to help the business make key decisions, a focus on performance is an essential component of the transformation journey. During the episode, National Future of Finance Leader at PwC Canada Adam Boutros sits down with Marilyn Wang, a Partner in PwC Canada’s One Analytics group and Sébastien Doyon, who leads the company’s Quebec finance transformation practice. They discuss the fundamentals of performance in finance transformation and how teams can address it within their organizations.

00:18 Adam introduces the theme of today's episode- performance

00:44 Adam introduces today’s guests: Marilyn and Sebastien

1:06 Marilyn and Sebastien explain what they each do in their roles at PwC

2:40 Marilyn and Sebastien each provide an overview of their interpretation of the meaning of “performance”

7:44 Marilyn shares some information about the tools that can help leaders get started in their finance transformation journey

9:06 Marilyn and Sebastien explore best practices for finance teams addressing performance

13:13 Adam’s reflection on the interview

Within critical data lies a huge opportunity. Yet, in finance, the phrase digital transformation is something that tends not to be fully understood. In this episode, Adam takes you through the key things you need to know to transform your finance department with guest, Michelle Bourgeois, ERP Consulting Partner at PwC Canada. Together they explore what movement to the cloud means for your organization, including SAP S/4HANA, how to take an integrated approach, and getting your people on board to ensure a seamless, successful transition.

00:18- Adam introduces the theme of today's episode- digital transformation

00:48- Adam introduces today's guests, Michelle

1:10- Michelle explores what digital transformation means for finance leaders 

2:12- The value of digitizing and modernizing reporting and data

2:58- The struggles CFOs face with reporting

3:45- A business led approach to technology change and the value of your CFO having a vision

5:25- Getting your organization on board with a successful transformation

7:04- Michelle's knowledge of the landscape of PwC client companies; when and how they are digitizing

9:24- Michelle's summary of how to get started on your digital transformation journey

9:57- Adam's reflection on the interview

This week, Adam sits down with PwC Canada partners, Marino Fremis, Partner, Finance Transformation Lead and Kevin Ng, Partner, Tax to walk through the second P of finance transformation, “process”. Together they walk through how new processes can transform your finance department, what those processes could look like, and how to remain competitive during the implementation stage.

Check out our website: https://www.pwc.com/ca/en/today-s-issues/future-of-finance/finance-in-15-podcast.html

Show Notes:

• 0:00- Adam welcomes listeners to Finance in 15
• 0:17- Adam introduces  the theme of today’s episode: the “process” pillar, and introduces guests Marino and Kevin
• 0:36 Marino and Kevin explain their roles at PwC and how they work with finance leaders
• 2:37- Marino and Kevin detail the importance of process and how to use process to your advantage
• 5:29- Marino provides info on how organizations can get started
• 7:24- Kevin provides examples of real finance transformation projects he has worked on recently
• 9:15- Marino’s thoughts on the transformation journey Kevin outlined
• 9:50- Kevin shares tactical advice and keys to success for finance transformation leaders
• 11:50- Marino reflects on how process connects to the impacts on people and performance
• 13:13- Adam reflects on the conversation and lets listeners know where to learn more about finance transformation

In today’s rapidly changing landscape, it has never been more important for your team members to be digitally savvy and collaborative. In our third episode of Finance in 15, Adam speaks to the intersection of people and technology in the finance transformation process with PwC partners Phil Hagel, Partner, Energy, Utilities & Mining and Lee-Anne Kovacs, Partner, Technology, Media & Consumer Markets. Tune in as they discuss the first P of finance transformation, “people” in more detail, why organizations need to focus and invest in it, what the workforce of the future will look like, and the operating model of reinventing your finance function.  

For more information on the Future of Finance, check out our website: https://www.pwc.com/ca/en/today-s-issues/future-of-finance/finance-in-15-podcast.html

Show Notes

• 0:00- Adam welcomes listeners to Finance in 15
• 0:17- Adam introduces the theme of today’s episode: the “people” pillar, and introduces guests Phil and Lee-Anne
• 00:48- Phil and Lee-Anne provide background on their roles and what they do at PwC
• 1:34- Lee-Anne explores reasons why finance transformations have to start with people
• 3:34- Phil provides info from a virtual event with mining CFOs he recently attended and some of the challenges identified during that event
• 5:25- Adam, Phil and Lee-Anne discuss the upskilling journey involved in finance transformation and how to get started with your transformation
• 9:45- Adam and Phil discuss potential obstacles involved in finance transformation as they relate to the “people” pillar
• 11:31- Adam, Phil and Lee-Anne discuss key takeaways for finance leaders tackling the “people” aspect of finance transformation
• 14:09- Adam lets listeners know what to expect from episode #4

What does a finance transformation journey look like? In this episode of Finance in 15, Adam walks you through PwC’s finance transformation with colleagues, Samir Bishara, Canada’s Finance Transformation Leader and Alaina Tennison, CFO of PwC Canada. Together they chat about how the transformation happened and the impact it had on the organization in a short period of time.  

For more information about the Future of Finance, check out our website:  https://www.pwc.com/ca/en/today-s-issues/future-of-finance/finance-in-15-podcast.html

Show Notes:

• 0:00- Adam welcomes listeners to Finance in 15
• 0:35- Adam introduces today’s guests, Alaina and Samir
• 00:53- Alaina and Samir provide background on PwC’s finance transformation journey
• 2:39- Alaina provides info on how staff managed PwC’s finance transformation journey
• 4:17- Alaina and Samir share examples of how the finance transformation allowed staff to shift to higher value activities
• 5:56- Adam, Alaina and Samir discuss examples of obstacles of the finance transformation journey
• 7:12- Samir shares the keys to successful finance transformation
• 8:04- Alaina shares what is coming up for PwC’s finance transformation journey
• 10:00- Samir and Adam discuss how to manage a diverse team during a finance transformation
• 10:40- Adam, Samir and Alaina discuss how to manage team members who are resistant to finance transformation
• 13:12- Alaina provides tips to her fellow CFOs on how to get your executive team on board with a finance transformation
• 14:40- Adam lets us know what to expect from episode #3

Finance transformation is about more than technology. In our first episode of Finance in 15, Adam sits down with Samir Bishara, who leads PwC Canada’s National Finance Transformation practice, to discuss what executives need to know to transform their department. The two walk through what PwC has established as the three Ps of a successful finance transformation (People, Process, Performance), Samir’s unique point of view on these engagements, the outcomes that leaders need to aim for, and of course, where to start.  

For more information about the Future of Finance, check out our website: https://www.pwc.com/ca/en/today-s-issues/future-of-finance/finance-in-15-podcast.html

Show Notes: 

• 0:00- Adam welcomes listeners to Finance in 15
• 0:17- Adam introduces the Finance in 15 podcast
• 0:55- Adam gives an overview of today’s episode
• 1:30- Samir provides background on his role and how he works with finance leaders
• 2:40- Adam and Samir provide an overview of the three Ps of finance transformation, and myths surrounding them
• 3:34- Samir explores the “people” pillar of finance transformation
• 5:24- Samir and Adam explore the “process” pillar of finance transformation
• 6:06- Samir and Adam explore the “performance” pillar of finance transformation
• 7:05- Samir and Adam discuss potential outcomes of successful finance transformations
• 8:55- Samir shares his secrets to success for successful finance transformations
• 11:10- Samir provides an example of a project he is working on now and challenges he has faced while working on it
• 12:14- Samir and Adam discuss whether finance transformation can happen virtually
• 14:15- Adam provides an overview of this episode’s discussion and lets us know what to expect from episode #2