Power of 3 - #5

By Steven Beshears posted 01-11-2021 11:34 AM

Power of 3

A weekly three-minute read highlighting takeaways and insights from conversations with members.

Top 3 Quotes of the Week:

"Professional Skepticism”
Critical thinking is so broad. Knowing the next question to ask is paramount. People in finance are all about the numbers, but what do those numbers mean? How are they applicable to what your enterprise is experiencing? 

"All CFOs should emphasize FP&A” 

As FP&A came up in one of the Peer Advisory Group meetings, one CFO was adamant that all finance professionals should be concerned with FP&A as they look at their priorities. Intellect, capacity and technology are all areas to raise concern. 

"Compliance is scary”
2020 has brought more mandates down on every industry and all aspects of business operations. It’s difficult to make sure that an organization is on top of everything. Are you confident that your enterprise is compliant across the board?

Top 3 Articles Shared This Week: 

CFO of the Year: Kelly Steckelberg, Zoom

SaaS Metrics are Often Misreported

CFOs Optimistic, But Don’t See Normalcy in 2021 

Top 3 Major Topics of Discussion This Week:

Critical Thinking - Circling back to the professional skepticism quote, how are we promoting critical thinking within our teams? How can we measure it? Is it even possible? Sure, there are trainings available, but do they work? Attracting and retaining top talent is a major topic, but are we considering critical thinking to be a factor in that hiring process? All employees should have the innate ability to ask the next question. 

Technology - This seems to be recurring over the course of Q4. Looking at around 200 sample responses in our sentiment survey, almost 25% of the responses indicated that the area where they would double their spend if they could was improving their existing technology platform. If you could double your current Accounting/Finance budget, to which one area would you allocate that additional funding?

People - Employees are the most important part of any organization. What are best practices in attracting and retaining talent? One member shared that her organization is reimbursing for internet as long as they work remotely. Another shared that they’re giving stipends to be used towards improving home offices or at-home work environments. Is your organization doing anything similar?