Welcome to the first edition of Axson’s Axioms. I hope this blog will both educate and entertain as I share new research, perspectives, insights and experiences gleaned from over 35 years navigating the world of business.
As we enter the 2020's, we are embarking on what I fully expect to be the most transformational decade for businesses, CFO's and finance professionals since the emergence of the PC and spreadsheet in the 1980's and the internet in the 1990's. Why do I think that? Well, here are some of my thoughts on how the next decade will unfold:
If you think marketplace disruption was significant in the 2010's just wait.
The twin forces of technological change and environmental sustainability will radically redefine the marketplace for governments, industries, investors, consumers and employees.
Measures of value will continue to expand to embrace not just financial performance but societal impact, trust and sustainability.
Up to 76 of the 2019 Fortune 100 participate in industry sectors that are almost certain to be radically redefined if not become obsolete in the next decade.
Data will remain a double-edged sword. Those who master its management will be better placed to capture growth and mitigate risk, those who don't will be left by the wayside.
For CFOs and Finance Professionals
CFOs will have to develop new models to measure return on investment, profitability and growth that address the new criteria by which capital is allocated.
Short term thinking will be punished in the long term - sustainable excellence across multiple dimensions will be required.
The interests of investors, consumers and employees are evolving at different rates which will cause (already is causing) significant conflict.
80 percent of the work done today by finance professionals will be eliminated or automated.
Over half the work done by finance professionals in 2025 does not even exist today.
Frightening? No. The next decade will be the most exciting ever to be a finance professional. Finally liberated from the tyranny of the spreadsheet and the shackles of accounting we can focus on creating value across multiple dimensions and help assure that financial success is aligned with the greater good. Watch this space for more insights on the journey ahead.