62. The Final Episode of 2021 with Hannah Munro

00:00 – Introduction and Reflections in 2021 

Hello everybody and welcome to the final episode of CFO 4.0 for 2021 and oh my goodness what a year it has been. I think on so, many levels you know we can't help but talk about the year we've had you know living with Covid, the shifts that that's meant for finance in terms of working remotely and of course for us on the podcast and developing that has been a real passion project for me. and I've loved every minute of it and thank you so, much to those of you that have reached out to tell me that you're listening I was speaking to somebody the other day and I was like it is amazing um to actually you don't really realize that somebody's on the other end of the podcast um when they're when they're listening so, for those that um I have spoken to that are thank you so, much because it is lovely to put faces to my listeners I see the numbers going up quite dramatically over the past year um But it is wonderful to actually meet you all in person, to hear your stories and to learn a bit about you as organizations is fabulous. So, my first ask, you know, in the new year and all before, please do reach out. I would love to learn what you guys think about the podcast. And, you know, or you can write a review. You know, reviews are what help us get the podcast in front of more CFOs, more finance leaders. So, whether it's you speak to somebody and you mentor the podcast or, you know, add a review. If you found this podcast useful, if it's added some food for thought, which is always my aim, then I would love it if you could share it. And I think for me, Christmas is very much a time of reflection. I don't know about everybody else, but I use that period between Christmas and New Year to think, you know, without the distractions of the phone, of emails pinging. I always take it off, but my brain is wearing about, you know, where the plans are going to go, both for ITAS as a business, but also now the podcast has become my little baby. So, what we're going to do with that next year.  

02:00 – The Changing Role of Finance and Digital Transformation 

So, I thought it might be interesting as part of this piece to talk about some of the reflections I've had already starting Christmas early and what I think that means for finance in general so, for me what's been really apparent is that the value of finance has gone up within business so, the conversations and it's in a good way and the conversations I'm having with businesses that are starting their transformation journey has been really exciting because the wider business is engaged they understand the need for automation in finance they understand the need for better reporting. And in fact, they're pushing finance to get it in quicker and faster, because they know that that is a requirement for finance to be able to step up into the role that it should be, which is that strategic, forward-looking role. visionary finance team that's really partnering with the business. So, and I do think that this year in particular has really driven an acceleration of it. So, I've always talked about the power of automating finance. I've done it for years and it's really interesting to see other people now talking to me and come to me and say, look, this is what we're trying to achieve. We want to go on this transformation journey. You know, can we, you know, can you come with us? And I love that.  

06:00 – The Impact of COVID on Finance Transformation 

I love the fact that it's actually not me trying to explain the value of this and actually the people that we're working with certainly are now coming to me and saying this is the journey we're going on we just we just want some help with it so, I think a lot of it you know we talk we can obviously address the you know the big ogre in the room which is COVID which has had such a horrible impact across the world and obviously across individuals. And you can't help but hate the fact that we're in this situation and the impact that it's having on our society. But I'm always one to look at what good can come from bad situations. Again, you need that positivity when you're in the midst of various different projects. But I think the one thing I can say is that the crisis has really emphasized and pulled transformation up the agenda for a lot of organisations. So, it's really driven that need to get better data faster. And because we all know that within a month, and you know, even within weeks, within days, the situation, the business landscape we're working within can change. And I don't think that uncertainty is going to go away anytime soon. So, I think for all of us, you know, we should take this as an Thank you so, much. Yeah, so, that's my food for thought is to obviously reflect on the success. 

09:00 – Podcast Growth, Community, and Listener Engagement 

And again, we're almost, I think we're a few downloads away, literally a few downloads away from hitting 16,000 listens, which is incredible. And I want to thank you all because we don't do a huge amount of promotion apart from me sharing it. So, that has all come through word of mouth. I've had a lot of people say that, oh, they found out about it from somebody else so, I want to thank you all for those that are talking about that are sharing it I really appreciate it and it's lovely to hear you as I said earlier on the podcast please do reach out and let me know you're listening it's lovely to speak to people and if you have any thoughts or ideas for content maybe there's an episode you didn't quite see the value in or maybe there's a topic you think I should cover and I haven't even thought about it yet please do send it through I'm in the midst of content planning for the next six months.  

11:30 – Looking Ahead: Content Plans and Themes for 2022 

So, I'd love to get your input because for me, it's very much about this podcast, adding value, giving food for thought and a time to really think. know and have that conversation so, the one thing I have decided on though in the new year which I'm super excited about so, as for those of you that know me will know that my background is actually in the weeds in terms of technical you know is in the transformation of the processes the reporting all that lovely technology stuff that sits behind good finance teams that are you know going on a transformation journey so, I'm actually going to be creating a secondary content stream to run alongside the usual format.  

16:00 – Introducing Financial Transformation Live 

We're going to try it out for six months, see how people engage. It's actually going to be live. So, you'll have the chance to ask questions, to dial in if you want to, and actually engage with the content. So, we're going to be running regular sessions. The first one's going to be on breaking the Excel addiction, which for those of you that have actually looked into what your teams are doing in terms of the number of spreadsheets. It's amazing. I go into customers, and I feel like every question, oh, we do that in spreadsheets. We do that in spreadsheets. So, my first piece is how do we stop that? How do we create an environment and systems and processes that shift us away? And when is the good use? So, there's loads of things I want to cover in that. And it's very much about setting the scene because that is one of, for me, one of the massive indicators that, you know, people need to start thinking differently about what they're doing. And, you know, Excel is a great tool to use in the right context. So,, you know, all you excel lovers and those that live in there um you know there I am not in any way dissing the flexibility and agility of excel uh but I am I think there are there are certain uses where excel is not the best tool so, we are going to go through that so, we're going to talk about how do you understand your level of reliance on excel when is that an okay thing because I think that's important when is it okay to rely excel there are some circumstances and when are the areas that we need to really pull that out so, that's my first episode but I've got loads coming um I want to get into redesigning your chart of accounts thinking that through thinking about how you implement digital purchasing because that's a big thing especially with hybrid working um And we're actually going to do a topic in the not too distant future on how do we build not just technology, but systems and processes and ways of working that suit the hybrid model. Because again, I don't think this is something that's going to go away, whether it's driven by COVID and it's being locked away, whether it's being driven by people wanting more flexibility and work-life balance. For me, that's a really interesting piece. So, we're going to dig into that as well, probably in one of the first few episodes. Again, if there's any topics you would like to see, then let me know. So, for those of you that would like to attend either live or get the recordings of it, or get alert when we're launching our next session, what the topics are going to be, please do go onto website www.itassolutions.co.uk. I will put a link in the show notes. But basically, if you click on resources, go to Financial Transformation Live. So, we're going to be doing live events where you guys can actually... obviously we'll pick a topic we'll talk about it um you guys will ask quests you can ask questions you can engage with it you can just sit there quietly and watch it you know I won't genuinely won't be offended and if you if there's a few people on my first couple I'd really appreciate it it's going to be a um a whole new experience for me get comfortable with that new format but you know um if you look back on my old podcast episodes um things have changed a little since the beginning so, um we're going to be going to revamping that so, if you'd like to be involved in financial transformation with Or you'd like your teams to be involved because I think it's going to be a bit more applicable for those that are actually taking part in those transformation projects as well. So, get them involved early. You know, we're going to be talking, get them in that transformation mindset. So, bring them along or send them our way. We'd love to speak to them.  

20:00 – Final Thoughts and Christmas Wishes 

So, that is going to be financial transformation live that's going to be kicking off. And of course, I have some great guests lined up for the new year as well. So, really excited. I am actually taking a two-week break. So, we'll be coming back. the second week in January for anyone that is that keen to get hold of an episode. But as you know, we've been doing this for well over a year now. So, there's lots of back catalogue that you can get hold of if you want to explore. And I've also... in the interim have released a new video on the secrets to success with financial transformation where do things go wrong what's the science behind it and so, that's also been released and will be available in the new year as well so, lots to look forward to I want to thank you all again for being part of our journey in CFO 4.0 I'm loving the comments I'm really excited to build more of a community of financial transformers and with Financial Transformation Live. And I'd love it if you'd come on this journey with us. And of course, hopefully we will be able to help you. So, I want that very much to be you guys feeding into topics, bring challenges. Maybe you're in the midst of a project and you're just like, why is this happening? What's going wrong? Or maybe there is a project you're about to start, and you want to think about it. So, we're going to talk about all the way from identifying the requirements for transformation, what you need to do, all the way through to How do you keep that continuous transformation mindset as well within the team? So, an exciting journey we're going on in 2022. So, I think all that's left is to say an incredibly big thank you for all of your support in 2021. I'm very excited to speak to you all in 2022 and a very Merry Christmas and Happy New Year from all of us here at CFO 4.0 and all of the team at ITAS as well. Take care guys. I will see you in the new year.