Agenda

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AGENDA

 
9:00 – 12:30 Workshop A: Advanced Analytics For Finance

Workshop A

Advanced analytics is used to discover deep insights that help identify business-improving and value-generating actions by leveraging predictive and prescriptive analytics, and can also facilitate the automation and prioritization of internal processes to improve efficiency and slash costs – goals close to every CEO and CFO’s heart. This session will explore how advanced analytics can be used in finance functions including:

  • Financial Reporting
  • Planning, budgeting, and forecasting
  • Identifying cost reduction opportunities
  • Risk management
  • Profitability analysis
  • Operational decision making
  • Identifying competitive threats, for example from vertical disruptors
  • Self-service data for business leaders
13:00 – 16:00 Workshop B: Becoming A Data-Driven CFO: How Data Science And Machine Learning Can Be Incorporated In Financial Forecasting, Planning And Analysis
Workshop B
FP&A teams sit at the confluence of transactional data and business strategy. As such, they are uniquely positioned to transform their roles by detecting patterns and confidently leading the effort to address risks and press ahead with strategy. However, a strong finance and accounting background is no longer sufficient to make this happen. The world’s most valuable resource is no longer oil, but data – and with Big Data comes the need for data science and machine learning, which enable finance professionals to model, forecast, plan, and drive business decisions at speeds formerly unheard of. Learn how to tap these tools to dive into previously impossible analyses and unlock new insights in this session.
Alan-Lim-rounded Alan Lim FCPA
Chief Financial Officer
Great Western Agriculture and Greater Central Group
GREAT WESTERN AGRICULTURE

GREATER CENTRAL GROUP LOGO

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AGENDA

 
     
09:00 Welcoming Speech, Opening Remarks & Thank You Sponsor Speech By Summit Producer
Applying AI And Data Science To Transform FP&A
09:15 Keynote: How Data Science And Machine Learning Is Transforming P&G’s Financial Planning, Forecasting And Analysis
Kuhelika-Sinha-rounded Kuhelika Sinha
CFO – ANZ
P&G
P&G
09:45 How Microsoft Is Using Machine Learning To Deliver 99% Accuracy In Financial Forecasts
Microsoft Machine learning is taking the field of financial forecasting to the next level by enabling finance teams to make continuous and more precise forecasts. Such technology has demonstrated the potential to boost forecast accuracy by 20% and cut variances by over 50%, making it an essential tool for any finance team in the data-rich years to come. Microsoft is among the companies that has embraced this transformative technology.

The software giant used to take 2-3 weeks to produce a forecast, with a large team of 100 financial and operational people collecting, compiling and discussing data mountains of data. Armed with a machine learning platform, 2 people can now do this in 2 days. The technology has also enabled Microsoft to maintain forecasting accuracy despite increasing volumes and complexity of incoming data, producing forecasts with an average accuracy of 98-99%.

10:15 Future Of Finance Networking Breakout Session
 10:30 Roundtable Discussion
  • Applying Machine Learning And Data Science To FP&A
  • Advanced Analytics For Finance & Business Planning
James-Fergusson-rounded James Fergusson
Head of Global Finance and Operations
PaperCut Software
PaperCut Software
  • RPA: Robotics Led Finance And Accounting Function
  • Blockchain Consortium Case Study: Australian Legal And Tax Insights
Joni-Pirovich-rounded Joni Pirovich
Special Counsel | Private Advisory – Tax, Blockchain & Digital Assets
Mills Oakley
Mills Oakley
  • Cloud Accounting
  • AI In Tax Planning, Contract Review, Fraud And Compliance
11:30 How AI Bots Help Finance Leaders Read Invoices, Review Contracts, Validate Pricing And Even Process Customer Orders
Healthscope David Allison
Deputy CFO
Healthscope
12:00 Leveraging AI In Tax Planning, Contract Review, Fraud And Compliance
Tax preparation, auditing and strategy consulting are services that have historically relied on an intensive use of human capital. Artificial intelligence (AI) is now challenging the traditional business models, with technologies such as natural language processing (NLP) and robotic process automation completing in mere hours what human auditors took weeks to do.

Deloitte has started using AI in the review of high volumes of contracts. Instead of having auditors comb hundreds of thousands of legal documents looking for a change of control provisions, which typically takes around half a year, the same can now be completed by a team of six to eight auditors working with an AI system in less than a month. Using NLP to extract information and a human-in-the-loop to validate the results, AI system is three times more consistent and twice as efficient as previous humans-only teams. The AI deployment won Deloitte the “Audit Innovation of the Year” award from the International Accounting Bulletin.

12:30 Lunch & Networking
 13:30 Tech Talk Panel Discussion: What New Technologies Are Disrupting The Finance Function?
Technological development from personal computing to cognitive computing: what has the evolution from hindsight to insight enabled for the finance function?

  • Knowing when tradition doesn’t work – migrating away from a “one-size-fits-all” approach in the adoption of new technologies
  • Ensuring that the rise of technology brings proactivity, not reactivity, to changes in the external market and to changes in disruption
Pranay-Lodhiya-rounded Pranay Lodhiya
CFO
Bureau of Meteorology
Bureau of Meteorology
 14:00 How RPA Bot Automated Finance And Accounting Workflow And Slashed Processing Time
Sandeep_Solanki-rounded Sandeep Solanki
Deputy Finance Controller – ANZ
Mondelez International
Mondelez International
14:30 Barriers To Digital Transformation Of Government Finance
Government is often slow to transform operational models, and this includes the finance function. The operating environment of Governments creates substantial barriers to transformation, despite the benefits significantly outweighing the costs and risks, and the opportunities to suppliers being significant. Government needs providers to develop solutions that address government technical needs, which, whilst sometimes high in volume, are less complex and consistent with private sector needs, as well addressing government barriers to change.
David-Donovan-rounded David Donovan
Chief Financial Officer
Digital Transformation Agency
dta
15:00 Afternoon Refreshments & Networking Session
Robotic Process Automation: The Key To A High-Impact Finance Team
 15:30 RPA In Financial Reporting: How RPA Can Save Finance Department 25,000 Hours Of Work Annually In Financial Reporting
Gartner Says Robotic Process Automation Can Save Finance Departments 25,000 Hours of Avoidable Work Annually in financial reporting. Gartner research has found that the average amount of avoidable rework in accounting departments can take up to 30% of a full-time employee’s overall time. This equates to savings of 25,000 hours per year at a cost of $878,000 for an organization with 40 full-time accounting staff. Despite this immense benefits, only 29% of RPA Adopters have implemented this technology for financial reporting.
Probir-Geoffrey-Dutt-rounded Probir Geoffrey Dutt
Automation Evangelist
IAG
IAG
 16:00 How GE Uses RPA And Optical Character Recognition (OCR) To Slash Invoice Processing Time By 60%
GE Global Operations’ European teams have 19 RPA robots on board, helping human workers by shouldering the burden of repetitive, high-volume workflows. In the accounting department, these bots match order numbers from incoming invoices to those in GE’s system, monitor payment deadlines, record receivables, execute tax returns and more. The addition of Optical Character Recognition (OCR) technology and machine learning only makes these smart, efficient digital workers even better, giving them the ability to convert unstructured documents into structured data and self-improve as they ‘learn’ the various formats and types of incoming documents. Given that manual processing costs 50% of companies up to $25 per invoice, the numbers add up very quickly indeed.
Mark-Sheppard-rounded Mark Sheppard
Chief Commercial Officer, Asia Pacific
GE Digital
GE ANZ
Finance Shared Service
16:30 The Future Of Finance Shared Services: From Virtual CFOs To Setting Up Finance Center Of Excellence
Adam-May-rounded Adam May
Chief Financial Officer
Adelaide 36ers
Adelaide 36ers
17:00 Closing Remarks By Summit Chairman
17:10 Champagne Networking Session
New champagne networking session image
Enjoy a glass of champagne whilst networking with other like-minded individuals on topics that are of most interest to you and fellow delegates.

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AGENDA

 
     
09:00 Welcoming Speech, Opening Remarks & Thank You Sponsor Speech By Summit Producer
Bringing Data-Driven Innovation & Advanced Analytics To Finance
09:15 Becoming A Data-Driven CFO: How Big Data Are Helping CFOs Acquire New Insights, Trends, And Generate Business Growth
  • How could analytics help us to identify drivers of data variance or draw insights we might have missed
  • Embedding analytics into processes and leveraging machine learning
  • Leveraging analytics to extend FP&A
  • Enabling analytics to not only manage and improve finance processes, but to accelerate business decisions on a wider scale
Jennifer-Scott-rounded Jennifer Scott
Non-Executive Board Member Transformation Program
Australian Bureau of Statistics
Australian Bureau of Statistics
09:45 The Future Of Financial Reporting With Analytics: How Advanced Analytics Are Helping Finance Leaders Improve Their Financial Reporting, Profitability Analysis And Operational Decision Making
Alan-Lim-rounded Alan Lim FCPA
Chief Financial Officer
Great Western Agriculture and Greater Central Group
GREAT WESTERN AGRICULTURE

GREATER CENTRAL GROUP LOGO

10:15 Morning Refreshment & Networking
 10:30 Fraser Property Australia: How Advanced Analytics Helps The Real Estate Giant Improve Financial Planning, Forecasting And Analysis
FPA_logo_CMYK To set its business direction, Frasers Property requires insight into forecast costs, revenues and potential returns. It sought a fast, scalable solution to meet emerging business needs. The company has deployed an advanced analytics platform, which can provide a detailed view of long-term revenue, cost and capital allocation across the business. It can also handle Fraser’s complex feasibility modeling for commercial and industrial developments from spreadsheets. Frasers Property has gained significantly faster access to forecast data, along with deeper insights into project revenue and costs to keep development projects on track across Australia.
 11:00 How Data Science And Predictive Analytics Helps To Improve Optus’ Cashflow Forecasting And Planning
Chris-Horsfield-rounded Chris Horsfield, CFA
Transformation Director
Optus
Optus
Future Of Finance And Accounting With Blockchain
11:30 How Blockchain Is Re-Writing The Rules For Accounting
Blockchain has the potential to enhance the accounting profession by reducing the costs of maintaining and reconciling ledgers, and providing absolute certainty over the ownership and history of assets. Blockchain could help accountants gain clarity over the available resources and obligations of their organizations, and also free up resources to concentrate on planning and valuation, rather than record-keeping.

Alongside other automation trends such as machine learning, blockchain will lead to more and more transactional-level accounting being done – but not by accountants. Instead, successful accountants will be those that work on assessing the real economic interpretation of blockchain records, marrying the record to economic reality and valuation.

Daniel-Gozman-rounded' Dr. Daniel Gozman
Director of Engaged Research
The University of Sydney Business School
The University of Sydney
12:00 How Blockchain And Smart Contracts Underpins Financial Transformation
Alan-Tsen-rounded Alan Tsen
CEO/ Founder
Fintech Victoria
Fintech Victoria
12:30 Lunch & Networking
Future Of Finance And Accounting With Cloud
 13:30 Re-Imagining The Future Of Finance With Cloud: How Hungry Jack’s Uses Cloud To Automate Its Entire Budgeting And Planning
hungry-jacks With over 430 restaurants across Australia, Hungry Jack’s is one of the world’s largest Burger King master franchisees, serving every Australian four to five times annually. At Hungry Jack’s, a digital-first, cloud-first mindset has transformed finance’s role in delivering on customer expectations. “We are really conscious of what’s going on in the consumer market, how people’s behaviors are changing, and we’re making sure that we’re getting ahead of the curve with AI and machine learning to understand what finance can look like,” explains CFO Nigel Everard. Everard and his team replaced a legacy finance system that wasn’t integrated to other key data sources, such as point-of-sale systems, with a cloud ERP system that delivers full visibility into customer behavior and operations. “This has changed the way that the business thinks of finance, from the score keeper to the real business partner who can talk to the business around a future strategy.
 14:00 How Australia Post Reduced Financial Closing From 15 Days To 2 Days While With Cloud?
australia post Australia Post began its cloud financial solution journey to automate and standardize its reconciliations, with an iterative rollout across four subsidiaries. Today, Australia Post can automate roughly 750 account reconciliations a month—dramatically reducing manual work and contributing to a remarkably fast two-day month-end close. Australia Post can also automatically generate daily reports that highlight accounts in need of closer investigation. The cloud financial solution can provide real-time updates and meaningful balance sheet reporting to management.
14:30 Financial Data Management On Cloud: Why A Single-Source-Of-Truth Can Improve The Decision Readiness Of Performance Data
Government is often slow to transform operational models, and this includes the finance function. The operating environment of Governments creates substantial barriers to transformation, despite the benefits significantly outweighing the costs and risks, and the opportunities to suppliers being significant. Government needs providers to develop solutions that address government technical needs, which, whilst sometimes high in volume, are less complex and consistent with private sector needs, as well addressing government barriers to change.
Francoise-Merit-rounded Francoise Merit
Global Chief Financial Officer
Aurecon
Aurecon
15:00 Afternoon Refreshments & Networking Session
 15:30 Challenges In Deploying RPA In Finance And Accounting
Gartner Says Robotic Process Automation Can Save Finance Departments 25,000 Hours of Avoidable Work Annually in financial reporting. Gartner research has found that the average amount of avoidable rework in accounting departments can take up to 30% of a full-time employee’s overall time. This equates to savings of 25,000 hours per year at a cost of $878,000 for an organization with 40 full-time accounting staff. Despite this immense benefits, only 29% of RPA Adopters have implemented this technology for financial reporting.
Niluka-rounded Niluka Perera
CFO
Kildare Ministries
 16:00 CFO Panel: Closing The Digital Skills Gap In Finance To Avoid Setbacks On Your Digital Transformation Efforts
Digitization is reshaping the finance talent profile. To get the most out of modernized systems and new tools, finance needs to provide appropriate training, so staff can develop strong data and technology acumen. But how can you help team’s transition to the new digital operating model, and how do you make sure they have the skills and competencies to be successful in the future? In this session, you will discuss:

  • Why are so many finance leaders struggling to find top digital talent?
  • Develop a vision for the digital finance organization and build an explicit talent strategy to enable it.
  • Augmenting your strategic workforce-planning capabilities by working closely with HR
  • What are the most popular and most successful upskilling strategies?
David-Donovan-rounded David Donovan
Chief Financial Officer
Digital Transformation Agency
dta
Pranay-Lodhiya-rounded Pranay Lodhiya
CFO
Bureau of Meteorology
Bureau of Meteorology
16:30 Case Study: Coordinating A Global Move Away From Legacy Systems In Finance
  • Setting a clear strategy and taking control to ensure a seamless migration
  • Some of your business processes may need to be amended to match the capabilities of your new platform – where to start?
  • Overcoming resistance and driving the cultural change agenda
Glenn-Johnson-rounded Glenn Johnson
GM Finance – Enterprise Transformation
Service Stream
Service stream
17:00 Closing Remarks By Summit Chairman