197. Growth, AI, and the future of finance: An interview with Workday’s CFO Zane Rowe
Mar 6, 2024
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The CFO of Workday discusses growth strategies, AI in finance, and balancing expenses. They explore the transformative impact of technology in the industry and the evolving role of CFOs. The podcast emphasizes sustainable growth, investment in AI, and the importance of transparency and collaboration.
Workday prioritizes international growth through partnerships for business scaling.
Investments in financial products and AI drive Workday's growth strategy with a focus on responsible AI adoption.
Deep dives
Workday's Growth-Oriented Culture and International Expansion
Workday, a California-based enterprise software company, focuses on growth through international expansion. With only 25% of its revenue coming from international markets, Workday sees significant opportunities for growth, especially in regions like EMEA and Asia. The company also emphasizes partnerships to scale its business, not just for implementation but also for marketing and sales, recognizing the importance of leveraging ecosystems for growth.
Financial Opportunities and Investment Strategies at Workday
Workday identifies financial products and AI as key investment areas. With a strong focus on financials and a decade-long investment in AI, the company aims to leverage these elements to drive growth and innovation. Workday's CFO stresses the importance of a growth mindset and strategic investments, highlighting the need for continuous reassessment and prioritization to optimize growth opportunities.
Navigating the Role of AI and Responsible AI Practices in Finance
Workday emphasizes a responsible AI approach, focusing on transparency, auditability, and openness in data utilization. The CFO underscores the need for CFOs to ensure trust in AI technologies, balancing innovation with accountability. Additionally, the role of finance professionals is evolving towards a more data-driven and automated landscape, requiring upskilling, collaboration, and a shared vision for leveraging technology to enhance business impact.
Zane Rowe is the CFO of Workday, a California-based company that develops enterprise software for managing finance, HR, and planning. Workday has been growing rapidly, and its growth-oriented culture is a central theme of the discussion we recorded between Zane and McKinsey's CFO Eric Kutcher