#186 CFO and CTO working in partnership for digital transformation with Bill Genovese, CIO Advisory Partner at Kyndryl

Kevin Appleby and Bill Genovese discussed the convergence of digital technologies between the CFO and CEO/IO roles, emphasizing the importance of collaboration between these two roles. Kevin Appleby and Bill Genovese later discussed the importance of cost avoidance, cybersecurity, and cultural change in navigating digital transformation, highlighting the need for organizations to adapt to new technologies and ways of thinking. Both conversations emphasized the value of collaboration and sharing experiences to better navigate the complexities of digital transformation. Key topics covered include: An overview of Bill Genovese’s background in financial services and technology consulting The concept of digital convergence and how technologies overlap to solve business problems Examples of how ERP systems evolved to integrate finance functions The CFO-CIO partnership in regulatory compliance projects like Basel II Opportunities for cost avoidance and cloud strategies through legacy modernization Cybersecurity considerations like the zero-trust architecture Emerging technologies like quantum computing and associated risks When a company should consider hiring a dedicated CIO/CTO role The importance of culture and mindset for successful digital transformation  https://www.youtube.com/watch?v=a8ABQhD9miI&t=10s Links Bill Genovese on LinkedIn Kevin Appleby on LinkedIn GrowCFO Mentoring Timestamps 0:00:11 Introduction and welcome 0:00:48 Bill Genovese introduction 0:00:51 Bill discusses his background 0:03:49 Kevin shares experience at IBM 0:04:04 Continued discussion of Bill’s background at IBM 0:05:01 Kevin recalls experience leaving IBM 0:05:28 Bill defines digital convergence using an overlapping circles diagram 0:07:05 Discussion of technology convergence e.g. smartphones 0:07:20 Bill shares he still has an original Palm Pilot 0:07:31 Kevin agrees about going back to old technologies 0:09:39 Kevin discusses finance systems integrating from other systems 0:11:36 Bill discusses ERP implementations in the early 2000s 0:12:36 Kevin discusses ongoing issues with budgeting/forecasting 0:13:21 Discussion of better budgeting solutions from the early 2000s 0:14:38 Kevin introduces discussing CFO-CIO partnerships 0:14:46 Bill discusses regulatory compliance projects 0:17:50 Kevin agrees to spend money intelligently  0:18:10 Bill discusses his relationship with CFOs 0:19:56 Discussion of multi-cloud strategies and related risks 0:20:50 Kevin raises security concerns about multi-cloud 0:24:48 Bill discusses zero trust architecture and quantum risks 0:25:14 Bill’s view on when a company needs a CTO role 0:26:11 Discussion of Bill’s CFO Tech Outlook article 0:26:50 Bill discusses other publications and viewpoints 0:28:51 Discussion of Bill’s experience in China 0:30:09 Kevin thanks Bill for the discussion  Find out more about GrowCFO If you enjoyed this podcast, you can subscribe to The GrowCFO Show with your favourite podcast app. The GrowCFO show is listed in the Apple podcast directory, Google Podcasts, Spotify and many others. Why not subscribe there today? That way, you never miss an episode. GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars.  Premium members can also access our extensive training centre and CFO Digital Toolkit. You can enrol in our flagship Future CFO or Finance Leader programmes here.  You can find out more and join today at growcfo.net