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CFOs Taking Charge in the Brave New World of Advanced Analytics



Christian Gheorghe, Founder & Chief Executive Officer, Tidemark, a solution provider at the marcus evans CFO Summit XXIX Fall 2014, discusses how CFOs can play a more strategic role.

NEW YORK, NY, Sept 26, 2014 - (ACN Newswire) - "When Apple CFO Peter Oppenheimer stepped down this year as finance chief and Luca Maeistri took the reins, ample attention was given to the new report to CEO Tim Cook. Another recent high-profile CFO appointment includes Twitter naming Anthony Noto to the position in July. The mounting pressure for more products and global expansion, along with increased investor interest are but a few examples of why organizations need CFOs to play larger, more strategic roles in a company's planning and decision-making," says Christian Gheorghe, Founder & Chief Executive Officer, Tidemark.

Tidemark, maker of the mobile-first business planning and analytics software, is a solution provider at the marcus evans CFO Summit XXIX Fall 2014, in Las Vegas, Nevada, November 13-15. Ahead of the Summit, we caught up with Gheorghe to discuss the evolving role of the CFO and how finance leaders from leading brands are making their mark in this new era of advanced data and digital transformation.

- What are CFOs challenged with today versus 15 years ago?

Being a CFO today is a much different job than it was 15 years ago, even five years ago. There are many reasons why this is true. First, CFOs are swimming in various forms of data. Not only is data coming from every department and function within companies - from sensor data on the manufacturing floor to sales and marketing data stored in CRM and marketing automation software - but from outside the firewall too. It is hard for any one person to manage all of the desperate sources, let alone make sense of it all. This is particularly true because CFOs are still managing their businesses based on legacy systems, leading to inefficient processes, forced management of massive amounts of cells through Excel spreadsheets and, frankly, more manual time than a company should be allocating. However, with the advancement of today's analytic tools CFOs have the opportunity to lead transformation within an organization. Whether they are working at a Fortune 500 company or a small business, the various business units rely on the CFO to asses risk, forecasting revenue, make adjustments and "what if scenarios" and, ultimately, make more strategic and impactful decisions.

- How has the role of CFOs changed over that time?

The idea of CFOs only focusing on bookkeeping is over. Today they are asked to play a much more involved role - among them to provide more visibility into new sources of revenue growth and identify new areas or regions of investment. To do this, they need to be more collaborative than ever before. As real-time data is streaming in from all directions, today's CFO needs to engage operations, sales, marketing and other lines of business to analyze and jointly develop action-oriented scenarios that should lead to more confident decision-making and better business outcomes. To do this, it is imperative that CFOs abandon outdated systems that force inefficient processes, and start harnessing the power of advanced analytics to get that shared, real-time window into the business.

- How can advanced analytics and cloud technologies help CFOs do their jobs more effectively?

When selected, advanced financial planning and analytics solutions like Tidemark can help CFOs get their arms around data to quickly and easily identify business drivers and risks, run different scenarios and use unprecedented "what-if modelling" derived from both internal and external data to assist in their decision-making process.

By running in the cloud, that data is always available to users across the entire organization and they can literally work from the same page (and set of numbers), regardless of where they are located or the device they want to use. This makes collaboration and ideation a much easier process. For example, a CFO can work directly with other members of the executive team as well as HR to reduce employee turnover by exploring various hiring options, parameters, geographies, training and education programs.

By connecting the various data sources and departments like never before, they can now uncover correlations between local job creation and employee churn-rate, as well as explore different scenarios that will help the collective team decide where and how to invest in talent to increase retention rates. Spreadsheets with cumbersome processes just cannot do that.

About the CFO Summit XXIX Fall 2014

The CFO Summit XXIX is the premium forum bringing senior finance executives and solution providers together. The Summit offers service providers and CFOs an intimate environment for a focused discussion of key new drivers shaping the future of the industry. Taking place at the Red Rock Casino, Resort & Spa, Las Vegas, Nevada, November 13-15, 2014, the Summit includes presentation on Cyber Security, Talent Development, Emerging Markets, and Controlling Spending and Driving Growth.

For more information please send an email to [email protected] or visit the event website at www.cfosummits.com/ChristianGheorgheInterview

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The Finance Network - marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.

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Please note that the Summit is a closed business event and the number of participants strictly limited.

About Tidemark

Tidemark is a new breed of enterprise performance management (EPM), bringing modern, cloud-first financial and operational business planning and analytics to the enterprise through unique, intuitive apps, enabling organizations to significantly improve decision-making, reduce risk and improve business performance. Tidemark arms every decision maker with access to valuable data, deep analytics capabilities, real-time collaboration, and actionable visualizations on any device, enabling a culture of performance. Leading companies transforming their businesses with Tidemark include Netflix, Chiquita, Hostess Brands, Chuck E. Cheese's, HubSpot, ServiceSource and Brown University. Tidemark is funded by Greylock Partners, Andreessen Horowitz, Redpoint Ventures, Tenaya Capital and Silicon Valley Bank. To learn more about Tidemark, please visit www.tidemark.com or follow us on twitter @TidemarkEPM.

About marcus evans Summits

marcus evans Summits are high level business forums for the world's leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com.

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