EXPERT FORECAST : BANKING AND FINANCE
Thomas Sutter , Finance Centre of Excellence , Oracle NetSuite
appear , and mistakes can happen when teams do not have the right skillsets or technology in place to drive progress or adapt to meet evolving demands .
Often , it is when the second generation or new board members get involved that the tipping point for progress is met . A fresh perspective and a more objective view of company operations can help to identify skill and tech gaps , spark more innovative working methods , and help to bring fresh ideas to the table . These new ways of thinking can require new blood , with external finance talent able to fill the knowledge and skill gaps of existing teams , bringing a wealth of experience from other business models .
Recruitment is an essential step to modernise the business , yet , however strong a FOB ’ s culture may be , there will always be new challenges and teething pains associated with bringing new talent into positions of authority – especially when it comes to finances . Leaders must ensure that new team members are a good cultural fit and satisfy the needs of the board , as well as having the skills needed to boost progress .
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