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FINANCE 4.0:
FUTURE OF FINANCE

2nd – 5th August 2021 

VIRTUAL EVENT SERIES

Singapore Standard Time 

What our delegates think of us:

Sime Darby Property

1. How can technologies such as Robotic Process Automation( RPAs), analytics and blockchain help to cut cost?

RPA would normally take over 'repetitive' tasks while analytics is to gather and classified the data, in the sense rather than hire 'low-skilled' persons to do those repetitive tasks and classifying data manually, it would be more cost-effective and cost-efficient to hire persons that can add value by data interpretation.  Meanwhile, blockchain technology would make sure the saver environment especially when we are dealing with numbers and important information. Especially with rampant cyber-attacks, those who have started to implement blockchain technology.  This would help in saving in term of safety and security cost.

2.  What are the key considerations for implementing a cost management and takeout action plan?

I, personally, prefer to use cost management as compared to cost-cutting. While cost-cutting would normally give a negative connotation, cost management would imply the other way around. When we look into cost management of course, the final goal is to make sure that we achieve the lowest cost possible without sacrificing quality or final result.  So, same quality or better quality has to be achieved in any cost management and its takeout action plan.

3. How will AI, Machine Learning and RPA Change Finance and the Role of the CFOs?

We would have to deal with less people but complicated people.  If previously, we may have to deal with more people to make sure that the data was recorded correctly and accurately and to make sure that we are producing the correct and accurate information on timely manner.  Now, all these things can be done by machine; however the brain behind AI, machine learning and RPA are still human.  We have to make sure that the people who provide the command are in line or synchronize with us as CFO.  Or otherwise, all the information produced would mean nothing as after all, garbage in would produce garbage out.

4. What are the key factors CFOs should consider when deciding on a capital budgeting project?

The final goal, fund availability and being agile.  As CFOs, we have to be agile to be always adapt to the situation.  Fast but do not rush.  Because the world is continuously changing, we also have to have high adaptability.  Certain times, we have to act 'fast' but we should not be having the feeling of 'rushing'.  As CFO, we tend to lower our guard when we feel 'rushed'.  Always knowing by your fingertips of your fund availability and knowing the final goal, it would be much easy to set priority and decide especially in such a fragile and uncertain situation.

5. How to be a great CFO in the new growth economy?

Different people have different priorities. Always update yourself and listen to what matters.  Change is the only constant in this life so do not be complacent or you would be out of the game.  

For registration pricing and multiple attendee discounts, please contact:

Shahlini 
ShahliniM@marcusevanskl.com