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Virtual or remote CFOs are using specialist software and cloud solutions to deliver services to small businesses and entrepreneurs. But as their automated solutions free up the business to focus on strategy and growth, could they be creating a model for the CFO of the future - regardless of organisational size? Beth Amato spoke to three virtual CFOs to learn how they are shaping the future of finance. Virtual or remote CFOs are using specialist software and cloud solutions to deliver services to small businesses and entrepreneurs. But as their automated solutions free up the business to focus on strategy and growth, could they be creating a model for the CFO of the future - regardless of organisational size? Beth Amato spoke to three virtual CFOs to learn how they are shaping the future of finance. Experts dived into finance trends from disruptive technology, to customer focus, to job "tax", and boards. Six of South Africa's finest finance professionals walked away with awards on the evening of 15 May. Richard Crecel and Daniela Thakkar: banks must act as credit loss remains divergent under IFRS 9. CFOs need to be adaptable, agile and forward-thinking in order to weather the storm and stay relevant. Many employers neglect to focus on their employees' retirement fund, because it simply isn't the core focus of the business. These are some of the key considerations in making sure you are investing to give your staff the future security they need. INOVO director Jan Kühn says tactical debt collection is important to business survival and sustainability. Jo-Ann Pohl, Tryphosa Romano, André du Plessis, and Brett Tromp all help to make South Africa better. Having to let people go, self-doubt and regulatory changes keep these CFOs awake at night. Apart from finance, these CFOs are passionate about things from books to flying to fishing. From a near-death incident to being right in the middle of the Gupta scandal, these CFOs shared their journeys. Cheryl said this is a pivotal moment in terms of Africa's relationship with the wider globe. Wrenelle will be stepping into the role immediately, replacing former joint-CEO Glenn Orsmond. Emma Hitzke and Shagun: How to help your organisation thrive in the digital age of finance. Alan is one of two South Africans that have been appointed to the company. Bianca is bringing her finance and business acumen to the company with the aim of enabling growth. Bowmans CFO Jo-Ann Pohl supports the non-profit organisation Charities Aid Foundation Southern Africa in her personal capacity. She believes in using her technical finance, strategy execution, and reporting skills to not only build her career but to also uplift disadvantaged people. Want to stay up to date with the latest developments in finance, but short on time? Don't worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience. Crosson's appointment comes after the resignation of Dylan Pienaar who had only been appointed in March. IRBA director Imre Nagy says it will help to identify where there may be risks in the audit market. Also: Curro acquires three new schools and Investec to sell 10 percent of its asset management business. This follows the resignation of independent directors and the suspension of CEO Thabang Moroe. The investment manager attributed its performance to its focus on low-cost investment and savings products. South Africans say "What struggling economy?" with a 36 percent growth in Black Friday transactions. Economy brought down by mining and manufacturing, while some sectors brought in only small gains. According to fresh results from this year's CFO Day Survey, nearly three quarters of all CFOs are eyeing the top job and aspire to be CEO after their current role. And their ambitions are not unrealistic: a third of all CEOs of the JSE Top-40 are previous finance executives. But what does it take to scale the highest summit? Which different skills are required? How do you move from numbers to people and strategy? CFO Magazine spoke to five former CFOs who were promoted to CEO to find out what it takes. The Cell C CFO recently participated in a Finance Indaba panel on real transformation in the workplace. Dorette also serves as a member of the financial reporting investigation panel on the JSE. This follows the resignation of founder Lex van Wyk as CEO, effective 1 January 2020. Want to stay up to date with the latest developments in finance, but short on time? Don't worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience. Tongaat had appointed PwC to investigate allegations that came through the whistleblowing line. African Rainbow Capital has expressed its appreciation for Bridget's dedication and thanked her for her contribution. Osman shares his excitement on achieving his aim of becoming the AstraZeneca MEA CFO. Also: Steinhoff names Kapela Holdings as B-BBEE partner and Growthpoint to take over Capital & Regional. Robert will be taking over from Jarrod Liedman, who has resigned, with effect from March 2020. Along with his role as CFO, Bryan heads up finance, IT, HR, logistics and warehousing, and imports at Verimark. According to fresh results from this year's CFO Day Survey, nearly three quarters of all CFOs are eyeing the top job and aspire to be CEO after their current role. And their ambitions are not unrealistic: a third of all CEOs of the JSE Top-40 are previous finance executives. But what does it take to scale the highest summit? Which different skills are required? How do you move from numbers to people and strategy? CFO Magazine spoke to five former CFOs who were promoted to CEO to find out what it takes. Although Till has resigned, his priority is to make sure that "it is business as usual" for the finance function. Recruitment specialist Chantelle Smith explains how to make sure your finance function will support your goals. Company secretary Graham Tyrrell has also tendered his resignation with effect from 1 March 2020. Xolani believes a CFO and his team should be dynamic to achieve optimal results. Excel Academy: It's not about getting rid of Excel, it's about learning how to use it safely and efficiently. The group's operating profits and headline earnings have also increased, despite constrained consumer spending. Risto is responsible for business performance, group reporting, balance sheet management and more. Spear CFO Christiaan Barnard believes that the ethos of his school has defined his work ethic. Want to stay up to date with the latest developments in finance, but short on time? Don't worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience. ArtGo's shares went from the best to plummeting completely after MSCI denies addition to China Index. Liberty founder, entrepreneur and philanthropist Donald Gordon passed away on 21 November 2019. Also: RMB Holdings sells its stake in FirstRand and Barloworld reduces interest in Avis Fleet. The group plans to prioritise investment, product innovation and leverage the strength of its brands to better results. According to fresh results from this year's CFO Day Survey, nearly three quarters of all CFOs are eyeing the top job and aspire to be CEO after their current role. And their ambitions are not unrealistic: a third of all CEOs of the JSE Top-40 are previous finance executives. But what does it take to scale the highest summit? Which different skills are required? How do you move from numbers to people and strategy? CFO Magazine spoke to five former CFOs who were promoted to CEO to find out what it takes. SAP Concur collaborates with powerful partners and constantly drives innovation with the intention of maintaining their position as the number-one travel and expense management provider to global organisations. He will be taking over from Cheryl-Jane Kujenga, who has been appointed as interim CEO. Acting CEO Charles Nel: leaders must reflect honesty, accountability, integrity, fair justice and good conduct. The group of CFOs considered how they can support innovation in their organisations. UCT GSB's Dr Tim London: Maximise staff engagement by understanding the tasks they love and hate. CFO Daan Ferreira said Astral continues to deliver strong cash flows despite challenging market environment. The Ministry of Public Enterprises made a surprise announcement of his appointment on Monday afternoon. Spar Group CFO Mark Godfrey: While we are optimistic, we acknowledge the market uncertainties. The group said, in line with good corporate governance, the next group chairperson should be independent. Want to stay up to date with the latest developments in finance, but short on time? Don't worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience. Oceana Group CEO Imraan Soomra: It was a satisfactory year, despite the tougher trading environment. The young CFO is a man of many talents, and he feels a powerful alignment with Letsema's values. Nedbank Group CFO Raisibe Morathi: This recognition is the result of lots of hard work. Also: Accelerate Property Fund to sell Edcon warehouse and Prosus puts deadline on Just Eats deal. Former SA Reserve Bank deputy governor Daniel Mminele to serve as Absa CEO from 2020. According to fresh results from this year's CFO Day Survey, nearly three quarters of all CFOs are eyeing the top job and aspire to be CEO after their current role. And their ambitions are not unrealistic: a third of all CEOs of the JSE Top-40 are previous finance executives. But what does it take to scale the highest summit? Which different skills are required? How do you move from numbers to people and strategy? CFO Magazine spoke to five former CFOs who were promoted to CEO to find out what it takes. The Financial and Accounting Services Seta has a message for the industry: It is ready to fulfil their sectoral training needs and has been conducting research to ensure that it has the capability to do so. The appointment of Mazars Netherlands was announced at Steinhoff International's AGM. Recognise the leading finance executive on your team with a nomination for the prestigious CFO Awards. Herman Singh answers the question: Will EPMS dashboards dash your plans or delivering dashing results? He has been preparing for the role for almost four years at the company's London offices. The former Investec CEO says CFOs should take care not to damage positive organisational culture. Allan was responsible for founding the Allan Gray Investment Counsel and the Allan Gray Orbis Foundation. Booysen will be taking over from interim CEO Sean Emery with immediate effect. Accounting and Financial Advisory's Shaun Govender outlines four key areas their clients need help with. Auto-Reconciliations in the Cloud enables efficiency of digital transformation programmes with up to 90% improvement in reconciliations time, and 75% reduction in write-offs. Want to stay up to date with the latest developments in finance, but short on time? Don't worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience. During the 2015 #feesmustfall student campaign, the University of Johannesburg (UJ) lost only one academic day to the protest. This was because UJ was ahead of the game in financially supporting its students, owing, in large part, to the efforts of the team lead by Nolwazi Mamorare, who is today the university's CFO. She spoke to Georgina Guedes about the kind of difference that can be made if you have the will to do so. Richard Branson and other executives discuss how businesses need to evolve to keep up with revolutionary changes. The United States and China leaders' confidence has plummeted by more than 20 percent. Also: Calgro M3 publicly censured by JSE and Taste Holdings gives up on Starbucks. She says she is looking forward to being part of the fledgeling financial services company's journey. According to fresh results from this year's CFO Day Survey, nearly three quarters of all CFOs are eyeing the top job and aspire to be CEO after their current role. And their ambitions are not unrealistic: a third of all CEOs of the JSE Top-40 are previous finance executives. But what does it take to scale the highest summit? Which different skills are required? How do you move from numbers to people and strategy? CFO Magazine spoke to five former CFOs who were promoted to CEO to find out what it takes. The responsibilities and influences of chief executives are not confined to their own companies and industries. Executives need the right kind of board to support them in all of the strategic decisions they need to make. The amendments are a proactive response to corporate scandals, speculations and innuendo. CFOs seized the opportunity to think, learn and most importantly to share experiences with their peers. Colin says that he will stay involved in helping SA through his role at Youth Employment Services. South Africans appear more divided than ever. To become a great, and united, nation we urgently need to reimagine a way to build our people - and this must be about more than jobs and GDP. Maricelle Boshoff: Although AI is still in its early stages for ERP, the demand for the technology is rising. Salome has been with the Nashua Group for seven years, serving in various finance positions. Want to stay up to date with the latest developments in finance, but short on time? Don't worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience. Standard Bank FD Arno Daehnke discusses African countries' buzz, innovation and work ethic. Alastair, who has been with the company for 10 years, will be emigrating to Australia. South Africa's CFOs offer up their congratulations to the Springboks on their outstanding win. Also: IHS Holdings, Investec Australia Property Fund, MAS Real Estate and Fairvest make headlines. Matthias, who joined Afrox from Germany, will be pursuing other opportunities within The Linde Group. Alphonzo started as a trainee technician and worked his way up to the role of Openserve CEO. CFO Michael Fleming says the group delivered a strong performance despite challenging trading conditions. Cape CFOs enjoyed great dinner and discussion, with insights from Capitec CFO André du Plessis. The CFOs of companies awarded for their excellence in financial reporting explain their approaches. AgileIT CEO Nick Truran highlights three IT areas to focus on to achieve significant savings. CEO Bernard Agulhas talks about IRBA's strategies to rebuild trust after a clean audit review. Comair's board thanked Kirsten for her "sterling" job and wished her every success in the United Kingdom. Workday accredits its 10,200 employees' contributions to its culture, products and services for its ranking. Workday was named a leader for its cloud core financial management suites for midsize, large and global enterprises. The CEOs have stepped down to allow for a leadership reset after an independent review into US project. BlackLine gets its message out there: It's possible to have finance automation control and visibility. Need to fly a couple of executives into Lesotho to visit one of Premier's bakery operations? No need to book a commercial flight - CFO Kobus Gertenbach has achieved his lifelong dream of getting his pilot's licence and owning a light aircraft and is more than equal to the task. Want to stay up to date with the latest developments in finance, but short on time? Don't worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience. Also: Standard Bank writes down stake in ICBCS and Group Five Projects business sold to the Teichmann Group Mthimunye is taking over from Kuben Pillay who will remain in the position for the handover period. Steven Sidley says SA enterprises with on-premise server rooms and data centres are sitting ducks. Altron Karabina's Paul Morgan says finance teams that use technology wisely can have a huge impact on results. Michelle has been appointed as an independent non-executive director with effect from 1 November. Finance Indaba attendees heard that they need to take an entrepreneurial view of their organisations. Finance teams are under pressure. Collaboration software gives them more time to focus on strategy. Clinix's Elisa Mkhize: "In five years' time, companies will need a completely different skills set." Grant said that Paycode offers both financial inclusion and fintech, which are his passion.Virtual CFOs (Part 2): Bots, bookkeeping and overcoming client scepticism
Virtual CFOs (Part 1): Just tech-savvy accountants or the future of business finance?
A look back at this year's most valuable insights experts into business and finance
Flashback: These leading finance executives won the coveted trophies at the CFO Awards
IFRS 9 and bank credit loss explained
CFOs talk technology and disruption at exclusive CFO dinners
Invest your employees' retirement funds wisely
To keep your business in the black, try these debt collecting techniques
These four CFOs are changing women's and children's lives
CFOs reveal their worst days - and what they learnt from them
Family, downtime and fitness play a big role in CFOs' lives
These CFOs overcame extraordinary odds to get to where they are today
Absa appoints Cheryl Buss as CEO of its international operations
Comair appoints aviation industry veteran Wrenelle Stander as group CEO
6 Strategies to help CFOs harness the power of emerging digital technologies
Canadian-based Cyntar Ventures appoints Alan Rootenberg as its new CFO
Demographica has appointed Bianca Raghuber as its new FD
Bowmans CFO Jo-Ann Pohl connects the corporate world to meaningful philanthropy
Finance flash: the TOP-10 articles of week 49, 2019
Taste Holdings appoints Duncan Crosson as its third CEO of the year
IRBA has released its Feedback Report on Audit Quality Indicators
M&A Roundup: Cell C rejects Telkom takeover offer and Choppies exits South Africa
Cricket South Africa suspends former acting CFO Ziyanda Nkuta from various committees
Sygnia achieves strong full-year growth despite economic headwinds
BankservAfrica reveals just how much South Africans love Black Friday
South Africa's GDP contracts by 0.6 percent in the third quarter
From finance to the top (Part 5): Lessons from history and a passion for people
Zaf Mahomed: Diversity will strengthen the finance team and the organisation
Adcock Ingram Holdings Dorette Neethling nominated for 2020 CFO Awards
Jan Hnizdo, one-time CFO of Teraco, to take on the role of CEO
Finance flash: the TOP-10 articles of week 48, 2019
Tongaat Hulett to pursue claims against executives after PwC report suggests shortfalls
African Rainbow Capital CFO Bridget Radebe has tendered her resignation
AstraZeneca's Osman Mia: This role has been a dream of mine
M&A Roundup: Pepkor exits Zimbabwe and Anglo American sells Australian business stake
enX Group appoints Robert Lumb as its new CFO
Verimark's Bryan Groome nominated for 2020 CFO Awards
From finance to the top (Part 4): Overseeing an unbundling then taking the reins as CEO
2017 CFO of the Year Till Streichert has resigned from Vodacom
CFOs, recruit for the team you need in the future - here's how
Robert Huddy has resigned as Tsogo Sun Gaming CFO with effect from 31 July 2020
Grindrod's Xolani Mbambo nominated for 2020 CFO Awards
The problem isn't with Excel itself, but rather with the way we use it
Pepkor announces commendable results with 9 percent revenue increase
Momentum Metropolitan Holdings' Risto Ketola nominated for 2020 CFO Awards
The CFO who has made relationships the backbone of his success
Finance flash: the TOP-10 articles of week 47, 2019
ArtGo: From best performing stock in the world to a 98 percent decrease
Sir Donald Gordon dies at the age of 89, leaves behind a legacy
M&A Roundup: Cell C and MTN roaming agreement making headlines
Tiger Brands announces 3 percent revenue increase for year ended 30 September
From finance to the top (Part 3): Being a CFO was always part of the plan
An ecosystem of innovation in travel and expense claim management
Talib Sadik appointed as interim CFO of Adcorp Holdings
IIA SA finds 3.5 percent improvement in corporate governance and ethics
CFO dinner in Cape Town confirms: If you don't disrupt, you'll be disrupted
How leaders can account for, and leverage, the "job tax"
Astral Foods reports increase in revenue, but decline in earnings
3 Things to know about the appointment of Andre de Ruyter as Eskom's new CEO
Spar Group delivers excellent performance despite challenging retail environment
Shoprite Holdings group chairperson Christo Wiese set to retire
Finance flash: the TOP-10 articles of week 46, 2019
Oceana Group delivers solid operating performance despite headwinds
Letsema's Katlego Tlale discusses personal and business growth and learning Japanese
Nedbank adds Chartered Secretary Award to line-up of 2019 reporting Awards
M&A Roundup: Telkom intends to acquire Cell C and Tiger Brands sells Enterprise
Reports say that Absa board has approved Daniel Mminele appointment as CEO
From finance to the top (Part 2): Understanding human behaviour is crucial, says Attacq CEO
Upskilling the future of the financial and accounting services sector
Mazars South Africa unit to work with Dutch office as external auditor for Steinhoff Group
Time is running out. Get your nomination for the CFO of the Year in today!
Use enterprise performance management systems and run your business like a gamer
Osman Mia has been appointed as AstraZeneca MEA CFO
Stephen Koseff: CFOs must be careful when imposing financial discipline
South African investor, philanthropist and entrepreneur Allan Gray passes away
4AX appoints Eugene Booysen as its new CEO
What's in demand in co-sourced accounting services
MoData launches auto-Reconciliations in the Cloud at recent Finance Indaba Africa
Finance-flash-top-10-articles-week-45-2019
University of Johannesburg's Nolwazi Mamorare: The power of purpose
Making your business unordinary during unordinary times
African leaders are the most confident about influencers and employees
M&A Roundup: Redefine Properties and AVI selling Australian stakes
Claire Coward has been appointed as the CFO of Halls Financial Services
CFOs who became CEOs (Part 1): A finance captain steering an engineering ship
Deloitte's intelligent boardroom: equipping execs with the strategic insights they need
JSE makes amendments to primary and secondary listing requirements
Inspirational speakers, outstanding networking opportunities at the CFO of the Future Summit
Colin Coleman retires as sub-Saharan African CEO of Goldman Sachs
Athol Williams: Believe it or not, the economy is not South Africa's biggest concern
Explained: How AI is shaping the future of ERP software
Salome Barker has been appointed as the CFO of Nashua
Finance flash: the TOP-10 articles of week 44, 2019
Moving into Africa CFO Award winner discusses connecting with Africa
City Lodge Hotels CFO Alastair Dooley tenders resignation
SA's CFOs say they think a Springbok win will reunite the country
M&A Roundup: Absa sells Edcon store card stake and Prosus to invest in India
Afrox CFO Matthias Vogt resigns to pursue other opportunities in Europe
Openserve CEO Alphonzo Samuels retires after 36 years of service at Telkom
Clicks results demonstrate resilience in a low economic growth environment
Adore your customer: CFO Dinner guests drill down to the essence of disruption
Leaders in financial reporting deliver insights into how to achieve excellence
Simple changes to storage, networks and telephony make big impact on bottom line
IRBA outlines plans to restore confidence in the roles of auditors and the regulator
Comair FD Kirsten King resigns as FD to emigrate to the UK
Workday Ranks #4 on Fortune's List of 100 Best Companies to Work For
Workday named a leader in Gartner Magic Quadrant for third year in a row
Sasol joint CEOs Bongani Nqwababa and Stephen Cornell resign
CFOs must embrace automation to improve their financial processes
Premier CFO Kobus Gertenbach's dream of flying
Finance flash: the TOP-10 articles of week 43, 2019
M&A Roundup: Prosus and Emira Property Fund aims to grow internationally
Cell C appoints Gobodo Incorporated co-founder Joe Mthimunye as non-executive chairman
City of Johannesburg breach due to too few 'deep' cybersecurity experts
Finance shouldn't cost your company more than 1.5 percent of your revenue
Kumba Iron Ore appoints Orion Minerals' South African CFO Michelle Jenkins as director
CFOs need to behave like they own the business
Digital collaboration can help your team to respond to increasing demands
Urgent changes in education needed to survive the Fourth Industrial Revolution
Grant Haarhoff new addition to Paycode's dynamic fintech team as CFO
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