Jakarta, Agustus 29, 2019 – In today's digital era, the role of Chief Financial Officer (CFO) is increasingly challenging. Digital disruption has changed many things quickly, including in terms of corporate financial management. CFOs can no longer only focus on conventional roles, but there are new roles that they must carry out due to the influence of information technology (IT) being applied in the company. For this reason, SWA Magazine together with Accenture conducted a survey on the role of CFO in the digital era.
A number of CFOs succeeded in scoring brilliant achievements because they were able to create an outstanding financial performance in their company. For example, Iman Rachman, a former CFO of PT Pelindo II (Persero), was then appointed as Director of PT Perusahaan Pengelola Aset (Persero) . Arief Budiman, a former CFO of PT Pertamina (Persero) who succeeded in making an improvement in this State-Owned Enterprise (SOW), is now the Managing Director of PT Danareksa (Persero). Outside of these now two CEOs, there are still many CFOs who also scored brilliant achievements.
As part of the effort to highlight CFOs, SWA Magazine also conducted the best CFO Award, in which the selection was conducted through a judging panel. The successful selected top 10 best CFOs: Ang Andri Pribadi (CFO of PT Selamat Sempurna Tbk), Aditya Dewabroto (CFO of PT Elnusa Petrofin), Ervina Waty (CFO Ismaya Group), Wahyu Avianto (CFO of BNI Syariah), Meylindawati (CFO of PT Asuransi Allianz Life Indonesia), Stephen Ten (CFO of Sintesa Group), Leonardus Wahyu Wasono (CFO of PT Telkom International / Telin), Eddy Indradi Tirtokusumo (CFO of PT Chandra Sakti Utama Leasing), Daniel Setiawan (CFO of PT Sorini Agro Asia Corp Tbk), and last but not least Sjafitri Sari Dewi (CFO of PT Indo Tenaga Hijau).
The CFO Forum and Indonesia Best CEO Award 2019 event on August 28, 2019 began with the presentation of research results from Accenture on repositioning the role of the CFO named The CFO Reimagined which presented by Yin Sern Lim, Managing Director, CFO & Enterprise Value, Accenture in ASEAN.
The CFO Reimagined was released by Accenture in 2018 to examine the role of the CFO and the transformation of the finance function in the digitalization era by conducting surveys and interviews with the CFOs and financial executives in various companies which are operating across industries in 10 countries. Using the same method and approach, Accenture in Indonesia has also conducted studies on CFOs and finance executives in Indonesia and has compared the results of its research with the results of global research to find out the similarities and differences in the role and expectations of CFOs in the digitalization era.
Based on the global research, there are five major forces which drive the transformation and evolution of the CFOs roles:
- Increased expectations
Boards, CEOs and enterprises overall expect and need more from CFOs
- Pace of change that keeps accelerating
- Expanded control & compliance expectations are driven by regulation and consumer expectations
- Pressure for growth and profits constantly increasing
- Power of data
There is a data-volume explosion, requiring both focus and new capabilities
"If we compare with global results, the survey result in Indonesia shows that the CFO are more enthusiastic to carry out their role as digital value stewards. To achieve this, there are several things to consider by the CFO in the future, these are the implications of technology implementation, including HR and policy process changes. The CFO also believe that 60 percent of the finance jobs can be replaced by technology, especially for jobs that are transactional, "said Yin Sern Lim.
Before the award ceremony for the best CFOs, the event began with knowledge sharing of their experience from Ang Andri Pribadi, Aditya Dewabroto, Ervina Waty and Leonardus Wahyu Wasono as the speakers and Leonard Nugroho, Managing Director, Technology Consulting Lead, Accenture in Indonesia as the moderator.
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions—underpinned by the world’s largest delivery network—Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 482,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.
For more information, please contact:
Accenture in Indonesia
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