Episode description

Episode 70. In today's interview, "Accountants & CFOs Compared with Chris Argent."

Chris Argent is Managing Director and Founder of Generation CFO. Frustrated by poor systems, poor reporting and lack of time to work within the finance industry, in 2009, Chris Argent set up a LinkedIn group looking for technology-minded accountants and finance professionals to help him out. After moving from SME CFO to Enterprise Finance Transformation Lead, Chris experienced advanced technology being used first-hand and saw massive potential.

The demand for digital transformation and strategic finance business partnering continued to grow, with pressure on CFOs to create a more data-rich, digital finance function. Chris started to add content posted on his LinkedIn group onto his blog, Generation CFO. The aim was to bring digital native innovators in accounting together with the senior finance leadership change makers. He saw the need for a unifying framework that could bring together traditional accounting and finance and the new data-enabled digital finance function. So, he developed the Digital Finance Function Model (DFFM), initiated events, podcasts and networking meetups to establish GenerationCFO.com as the go-to platform.

Today, Generation CFO is a community of over 100,000 members – and growing rapidly. We produce experiences, content and thought-leadership interviews on The Shift. By keeping accounting and finance professionals at the cutting-edge of finance function, we are creating heroes of the current and next generation.

Key takeaways from this episode include:

➯ how a LinkedIn group of a few hundred turned into a global community of 100,000+

➯ the similarities between Chief Financial Officers (CFOs) and accounting professionals

➯ the challenge of meeting increasing business demands for CFOs and accountants

➯ how the role of CFOs and accountants has changed over years from a historical to a future-oriented focus

➯ how many finance and accounting services have become under-valued and commoditised

➯ the challenge of pricing and valuing finance and accounting functions for CFOs and accountants

➯ the importance of credibility for CFOs and accountants who need to gain buy in for their advice at boardroom level

➯ what CFOs and accountants must do to support decision making and avoid being seen as just the finance or numbers person

➯ how complacent CFOs and accountants are challenged to upskill and provide more value to stakeholders

➯ what makes 'digital' a core concern and area of skill upgrade for CFOs and accountants

➯ the problems with data overload and a lack of analytical skills with CFOs and accounting professionals

➯ the mistake some CFOs and accountants make in reporting just the lagging indicators or KPIs, not the leading ones

➯ why knowledge and skills in digital CFOs and accountants need not be all around technology and coding

➯ the origins of Generation CFO and how it serves its community of CFOs and accountants

➯ where CFOs and accountants really gain their market intelligence and fintech knowledge from (it's not product reviews)

➯ why change is merely structured learning and how peer learning plays into that with communities for CFOs and accountants

➯ why business conferences and events can be massively overwhelming for CFOs and accountants

➯ the problems with information that comes out from professional institutions and associations for CFOs and accountants

➯ what both online and offline events must do to remain relevant for CFOs and accountants

➯ the big secrets of facilitating face to face networking amongst CFOs and accountants at business events

➯ the journey accountants, CPAs and CFOs must go on to drive change in their areas of influence

➯ why most accountants, CPAs and CFOs are unsung heroes in this challenging...