The two day CFO Symposium in Brisbane last week focused on digital disruption, highlighting the role of the CFO in ensuring that their organisations are taking advantage of modern cloud technology. As the CFO role transitions from one of traditional controller to value creator and strategist, the event encompassed the CFO’s responsibility for driving change within a company. Our COO Daniel Perry presented on the topic of ‘Innovation, Disruption and the Role of Operational BI’, covering the current age of the Information Revolution, which started just over 30 years ago with the Internet. With everything logged, all data accessible, we all do much the same things over and over again. Real time information applied to big data predictive models gives us unprecedented reach and scalability. Dr Matthew Peter, Chief Economist from Brisbane discussed the Economic Outlook, focusing on how the tourist industry and education sector are rapidly improving with double digit growth. While Australia moves away from the reliance on the mining sector, the housing boom and fiscal easing have become liabilities to sustainable growth. In order to ensure international competitiveness, we need low dollar, low wage growth with high private and public sector savings. With a recent drop in interest rates, Australia has seen an increased demand for housing; however becoming an increasingly vulnerable sector, 40% of income in Australian households contributes to paying off household debt. Klugo and William Buck delivered another session on the ‘Rise and Fall of Dick Smith’, with the story continuing to unfold into 2017. The session focused on the importance of having the right systems, governance and strategy in place – reiterating the driving force of the CFO within the company. Another hallmark of the CFO Symposium was relating your business to the current times. Not only is Trump changing our economic outlook on a global scale, so is technology with the Information Revolution on our doorstep. With information available in real time, big data predictive models and market globalisation, it’s clear that keeping up with modern technology is vital. Now is the time to think about how you can leverage the Information Revolution in your own business. To find out how you can modernise your systems, get in touch with one our of experts on 1300 766 011.
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