Our Austin-based Corporate FX Specialist, Avery Staples, recently attended CFO.org Dallas. Hosted by CXOsync at the W in Downtown Dallas, the conference was attended by about 70 CFOs and finance executives and consisted of three main panels surrounded by meaningful networking time.
- Predictions Panel – predictions heading into 2020 introduced by finance leaders in both private and public sectors.
- Women in Finance – fresh perspectives from women in leading finance roles on the evolution of the role of women in finance and the growth they wish to see and promote in the industry.
- CFO Panel – Top CFOs shared their initiatives for 2020 and how they plan to bring a lasting impact to their companies.
Here are Avery's key takeaways and themes from the day.
- In 2020, financial markets will continue to change and consumer spending will remain strong.
- 2020 will undoubtedly be a volatile year for markets. The focus will be on trade relations, the US election, and macroeconomic trends (Brexit, economic weakness in the Eurozone, consumer spending, etc.).
- There is an increasing need for financial creativity as finance functions expand beyond traditional banking processes in areas such as payment processing and credit options.
Evolving Role of the CFO
- The CFO role is evolving into one as visionary and change agent within their organization
- Finance professionals need to push past their comfort zones and ask themselves "How can I be a visionary and promote lasting change within my organization?"
- For more on the evolving role of the CFO, check out Avery's summary from last year's CFO Live Conference in New York.
- There is a growing focus on technological efficiency. It is imperative to not only invest in new technology, but invest in making sure it is the right technology
- Finance professionals are being asked to streamline their technology by auditing their organization's current processes and asking themselves - "How is this task adding value?" "Can it be automated?"
As we move into 2020, we will see continued volatility play out in the markets. As such, it is vital for finance leaders to streamline their global payment processes and employ creative strategies to protect their organization's profit margins.
At XE, we work with organizations around the world to navigate the complexities of global payments and mitigate currency risk. We understand that every business is different, so our approach to managing your FX requirements is unique. Once you register for a free account, we’ll work with you on the best strategy to simplify your global payments and minimize unnecessary costs.
When was the last time you assessed your international payments process? Click here to speak with an expert.