“Sadin on Digital” episodes explore the fast-changing and high-stakes world of digital business. Wayne Sadin and I focus in particular on what CEOs and boards must do to lead their companies successfully into the Digital Age. Today, Wayne shares his thoughts on how the CFO role should function in today’s modern, digital focused organizations.
The Big Themes:
- Accenture ransomware: Accenture’s response – they quickly detected, defended, and repaired. So far, it appears to be only a low-value material leaked.
- The New Digital Edge: McKinsey article rethinking strategy for the post-pandemic era. “By 2023, most companies will need to build new digital businesses to stay economically viable.”
- Talking to CFOs: After talking with several CFOs since the last episode, I think it’s time for some changes. Why does IT report to the CFO at so many companies?
- What should happen: CFO should tell the CEO, ‘no thanks!’ CFOs and the CIOs make a more powerful team – even better as peers.
The Big Quote:
- “You know that whole 19th century model of the green eyeshades and the rolled-up sleeves at the desk – that world has changed, and we’ve got to recognize it.”
- “So go back 50, 60 years, the first people that put technology and the first computers went in the 1950s – that’s 70 years ago.”
- “Walter Wriston, the founder of the organizer of Citibank, said information about money is as valuable as money itself.”
You can also stream this episode in audio-only format:
This episode is brought to you by BMC Software.