What we learned from Australia's top CFOs...

Morning ! As you take that first beautiful sip of that caffeine hit this morning and get semi-anxious about month end, we thought we would give you the run down on what we learned at the recent CFO Symposium in Sydney.

Like we were reminded on our coffee cups, coffee is for month-end closers. Let’s go!

Our Notes From The CFO Symposium

Below were our key takeaways, and we go into more detail on this on our pod.

• "Automation First, AI Next": CFOs emphasized that foundational automation is the priority before introducing AI into finance functions.

• "Talent Crunch Impacting Growth": With talent shortages in finance, companies are looking to optimize processes and explore automation to fill skill gaps.

• "Cashflow Reigns Supreme": Despite advancements in AI and automation, managing cash flow remains the number one priority for CFOs and business owners.

• "Finance and Tech Must Collaborate": The blend of finance and technology is crucial, with finance teams increasingly working with CTOs to unify data and drive insights.

• "Incremental Improvements Over Major Overhauls": Adopting new tech incrementally allows teams to address specific needs without overwhelming systems or requiring major structural changes.

• "Simplify to Engage": Presenting insights simply and clearly, with fewer words and more visuals, can improve engagement and comprehension during finance presentations.

• "Rule of Three for Impactful Communication": Focusing on three main takeaways during presentations makes the message clearer and keeps stakeholders focused.

• "CFOs as Value Protectors and Creators": The modern CFO balances innovation with a responsibility to protect the organization’s value and manage risk.

Some other slide snippets that we liked

*Courtesy of Trintech’s presentation, and CFO coach Alena Bennett

Life Hack Of The Week

What’s your home page?

I was chatting to an Accountant this week who uses ChatGPT a lot.

How did they start using it in their work every day?

They made ChatGPT (https://chat.openai.com/), their home page.

In their words….

“My behaviour was defaulting to Google. I wanted to change my behaviour to be more AI friendly”.

So true. Adoption starts with changing behaviours.

What’s your home page, and how can you change your behaviour?

The Cashflow Cafe is ‘the written version’ of our Podcast (The Ash, Hubert & Kevin Pod)

On our pod, we share finance stories, lessons, and mistakes to help business owners and finance pros understand sometimes complex concepts.

Our aim is for you to leave each episode thinking, "Ahk. I get it now."

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