Spotlight on Red Hat: The evolution of finance
December 20, 2021
December 20, 2021
Most companies have seen the role of Finance in their organization evolve in the last several years. Red Hat, Inc., a leading provider of enterprise open source solutions, is no exception. Watch as Carolyn Nash and I talk about Red Hat’s journey and how digitizing Finance was a real game changer. It shifted the kinds of conversations that the finance team could have with the business. (Note: this is the second part of this conversation. View part one here.)
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Insights from the CFO of the Future Summit | Q&A with Carolyn Nash of Red Hat (Part 2). View Part 1 of the conversation here.
View transcript (Full text also provided below.)
Aneel Dellawalla: If we pivot to some of the more traditional ways we think about how finance operates at Red Hat and the day-to-day work you do and the types of technologies you use, the ways you organize, the types of skills that are in the organization, how is that shifting? How are roles changing? How is the organization evolving, given all of these other macro changes going on?
Carolyn Nash: We've had a tremendous focus over the past number of years on not only implementing better technology but also supporting it with standardized processes, starting to embed technologies like AI and RPA into our processes and so that the role that we play as finance people, engaging with our systems and our processes has changed. We've really evolved to more of these digital skills, which are not so much technical in nature but what is your role as finance when you're engaging with new technologies and new information coming out of those technologies? So what that has done is really positioned finance to up level and change the conversation, because we're spending less time diving in…manipulating the data but we're spending more of our time using that information and helping drive the conversation and influence the outcomes, so it's been a pretty exciting shift.
Aneel: That's been the promise of these technologies, which is get the hands, the time, the people, out of cobbling the data together and allow those people, free those people up, liberate their time to focus on the insights, the decision-making, the business partnership.
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