The 48th World CFO Conference (IAFEI) was first held in Vietnam in 2 days of November 15-16, 2018. The meeting welcomed more than 500 guests including business leaders, senior financial executives, chief financial officers and leading financial experts from many continents, including members in 21 countries of the International Association of Senior Financial Managers – IAFEI.

In the topic “Financial transformation in the digital era”, the conference focused on the balance between the research of promotion policies and factors that hinder economic development in Asia as well as globally. In addition, there is the transformative potential of digital technology to meet opportunities and challenges, from cyber-security, blockchain technology application and data analysis to artificial intelligence (AI).

Discuss the role of modern CFO in the digital transformation roadmap and the impacts, the balance between conversion and ROI, how to persuade the Board of Directors to realize the important transformation, how CFO create value for technology processes, instead of just evaluating financial efficiency, how CFO manipulates data to capture potential opportunities.

Talking about the role of CFO in the digital transformation of businesses, Ms. Tran Thi Phuong Hong and other experts said that modern CFOs should take 3 roles. The leader for digital transformation. CFOs are the ones to set budget and resource allocation plan. Even CFO could be appointed to the title of Conversion Director. The second is inspirer. Shares what digital transformation has changed, why businesses have to implement it and the benefits it brings; The third is the influencer. Most employees are not sure about the change because they still do not know how it will affect their daily work. CFOs can fully inspire, help employees eliminate doubts, and adapt changes in the most positive way.

Ms. Hong added: “With the strong support of technology, CFO is developing from simple financial tasks to strategic advisers for the whole business. In the past, the CFO thought that the finance department only needed minimum IT investment, but nowadays that is not true anymore. In the process of consulting on digital transformation for businesses, I realize that modern CFOs are very interested in new technology trends and data conversion. They adapt very quickly thereby providing more in-depth financial analysis. Most CFOs know that it is no longer appropriate to stay in the traditional role. Instead, CFOs must build skills in other areas of the business, play a more active leadership role, and rethink their conventional approach to overcoming external pressure and finding opportunities. new investment association. And I’m really excited about this.”

The 48th CFO World Conference consists of 5 sessions,. “Digital transformation strategy in enterprises” is the final discussion session, closing the 2-day conference held at Lotte Legend Hotel, Ho Chi Minh City.

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