Summit attendees get the details behind the numbers in finance transformation and outsourcing on the Continent.

by Richard Crespin

When most people picture a conference of finance directors, they probably imagine a lot of people in dark suits staring at spreadsheets. And while dark suits and a few spreadsheets are sprinkled here and there, there’s also a lot of camaraderie and sharing, a considerable amount of laughing, and plenty of networking. At least, that’s how it was at the most recent Finance Transformation Europe Conference in Copenhagen.

This event brought together nearly 100 finance directors and finance and accounting executives from some of Europe’s best companies to discuss emerging trends and best practices in finance transformation and outsourcing.

The event began with a networking cocktail reception that helped set the stage for interactive dialogue. Andrew Tinney, CFO U.K. for Deutsche Bank, kicked off the first full day with his keynote address on how shared services and outsourcing have helped him move the finance function up the corporate value chain for Deutsche. Ronny Brisaert, the finance director for Danfoss and Carina Smith from Capgemini co-presented the Danfoss case study. Danfoss, one of Denmark’s leading manufacturers of valves and fluid handing components, was able to consolidate from 39 separate finance departments down to one service center in Krakow, Poland. The morning plenary session was capstoned by a panel of experts on change management and key stakeholder engagement. The panel included Bob Cecil from EquaTerra, Sara Heuer of EMI Music, Kim Rolf Jensen of Carlsberg, and Dr. Constanze Nuesperling of Pitney Bose.

For this conference, delegates were able to design their own agendas, choosing from plenary sessions and a series of six “executive briefings.” These intimate meetings of 20 to 40 executives in a roundtable setting (see photo below), allowed delegates to share their insights and gain from the experience of others. Søren Holten of SAS presented a case study on his own experience transforming the finance function at SAS, served as a discussion leader in an executive briefing linking internal customer satisfaction to the bottom line, and learned from other delegates. Sessions debated governance, managing service provider relationships, negotiation strategy, and location selection.

“The opportunity to share our experience and learn from others was incredibly valuable,” said Holten. “We heard from experienced practitioners covering multiple models from shared services centers to outsourcing. My team and I valued our time at the conference, learning from our peers.”

During plenary sessions the delegates heard a case study from Newell Rubbermaid about running end-to-end finance transformation. Expert panelists shared their insights on overcoming common hurdles in managing finance transformation and future industry trends with the delegates.

Finance professionals, despite their dark suits and spreadsheets, can really come together and help each other given the right environment. The Finance Transformation Europe Conference kicks off the annual calendar of events on outsourcing and transformation in Europe and will be bookended by a similar conference in Brussels in October. Copenhagen began a number of discussions that will be picked up in Brussels, including an extended discussion on change management, vendor selection, managing internal customer relationships, and the role of sourcing advisors in establishing good governance practices.

In addition, this June will bring a discussion on “the Art of the Deal” at the annual FAO Summit in New York. Delegates will learn about the core skills they need on their team when planning for a major outsourcing initiative and how to get the most out of their negotiating strategies. The Summit will bring together some of the greatest negotiators and deal makers in the industry.

For information or to register for the Brussels Finance Transformation Conference, contact AdamBleifeld at adam.bleifeld@sharedxpertise.org