Strategi Navigasi Menuju Profitabilitas Tinggi | Stanley Iriawan, CFO PT Elnusa Tbk.

Mens Obsession

9 Jun 202412:57

Summary

TLDRIn this video, the CFO discusses navigating the current era of disruption by focusing on comprehensive data acquisition, embracing digitalization, and enhancing financial management systems. They emphasize the importance of risk management to handle market volatility and the CFO's role as a strategic partner in maximizing value creation. The discussion also covers efficient cash flow management, optimizing costs, and strategic investment decisions. The CFO highlights the need for transparency, proactive communication with stakeholders, and maintaining a balance between risk and opportunity. The video concludes with a reflection on the CFO's educational background and diverse industry experience, which have shaped their strategic and adaptive approach to finance.

Takeaways

📊 The speaker emphasizes the importance of accelerating comprehensive data collection and maintaining a focus on risk management in the face of current disruptions.
💡 Innovation in financial management, particularly through increased digitalization and integrated financial reporting systems, is a key focus for the organization.
🛡️ Strengthening risk management is crucial to navigating market volatility, with the CFO playing a strategic role as a navigator and partner.
📈 Effective cash flow management, cost optimization, and strategic investment decisions are critical to supporting the company's growth.
🗣️ Active communication with stakeholders is vital, ensuring transparency, building trust, and maintaining credibility in the company’s strategic direction.
🎓 The speaker’s educational background in Business Management and extensive experience in banking and various industries provide a solid foundation for effective financial management.
🤝 The company fosters open, collaborative, and coordinated communication across financial and other divisions, ensuring comprehensive, data-driven decision-making.
🏆 Regular updates to stakeholders, including investors and regulators, and adherence to financial standards are essential for maintaining trust and supporting the company's growth.
🌱 The organization actively seeks opportunities arising from regulatory changes, such as tax incentives and new funding mechanisms, to support sustainable growth.
📉 Diversification of the business portfolio and a structured risk management approach are essential strategies for facing global market volatility and other challenges.

Q & A

What is the main focus of the management in the era of disruption mentioned in the script?
-The main focus of the management is to ensure a continued focus on accelerating comprehensive data acquisition processes while considering risk factors and promoting innovation in financial management through digitalization and improved financial reporting systems.
What role does the CFO play in navigating the company's direction?
-The CFO acts as a navigator and strategic partner, mapping the company's direction, maximizing value creation, managing cash flow efficiently, optimizing costs, and making strategic investment decisions to support the company's growth.
How does the CFO ensure transparency and trust with stakeholders?
-The CFO ensures transparency and trust by actively communicating with stakeholders, providing updates on company performance and strategy, and ensuring financial reports are prepared according to financial standards and presented transparently.
What educational background does the CFO in the script have, and how does it benefit their understanding of finance?
-The CFO has a background in Business Management, which provides a solid foundation for understanding financial principles. This, combined with their work experience in banking and the Ril sector, allows them to view financial management holistically.
What strategies does the company implement to adapt to market changes?
-The company implements strategies such as open, active, and collaborative communication across financial and other divisions, integrating financial management systems to monitor financial practices, and ensuring compliance with accounting and financial regulations.
What are the key financial targets the company aims to achieve?
-The company aims to improve efficiency and profitability, maintain optimal operational and financial results, and ensure sustainable growth and development.
How does the company address the challenges of market volatility and economic uncertainty?
-The company addresses these challenges by implementing strategies such as diversifying the business portfolio, strengthening risk management, and maintaining efficient cash flow management.
What was the company's financial performance in Q1 2024 according to the script?
-In Q1 2024, the company showed a positive financial performance with a significant increase in net profit compared to the same quarter in 2023, driven by operational efficiency, portfolio diversification, and the implementation of new technologies.
What is the CFO's approach to leadership and team motivation?
-The CFO's leadership approach focuses on empowerment and skill development, providing opportunities for the team to learn and grow, and encouraging open communication and collaboration.
How does the CFO's background in various industries contribute to their strategic thinking?
-The CFO's experience in various industries, including banking, coal trading, and heavy equipment, has equipped them with a comprehensive understanding of financial management, enabling them to develop effective and adaptive strategies in response to market dynamics.
What are the key aspects the CFO considers important for success in their role?
-The CFO considers strategic thinking, adaptability, proactive management, effective liquidity management, effective risk management, transparent financial reporting, effective communication with stakeholders, and leading a motivated team as key aspects for success.

Outlines

00:00

📈 CFO's Role in Navigating Disruption and Enhancing Financial Management

The speaker, a CFO, discusses the importance of staying focused on comprehensive data acquisition while managing risks in the face of disruption. They emphasize the need for innovation in financial management through digitalization and improved financial reporting systems. The CFO's role is described as a strategic navigator and partner, tasked with mapping the company's direction and maximizing value creation, especially during uncertain economic conditions. They also highlight the importance of efficient cash flow management, cost optimization, and strategic investment decisions to support company growth. The speaker underscores the necessity of active communication with stakeholders, providing transparency, trust, and emphasizing the company's strategic direction. They also stress the balance between risk and opportunity, drawing on their educational background in Business Management and extensive experience in banking and the real sector to develop effective and adaptive financial strategies.

05:01

🌐 Addressing Global Market Volatility and Company Performance

The speaker addresses the challenges of global market volatility, energy policy changes, and climate shifts, outlining the company's strategy of diversifying its business portfolio and strengthening risk management. They express confidence in the company's ability to face these challenges and continue to grow. The company's financial performance in Q1 2024 is discussed, noting a slight revenue decrease due to changes in trading prices of oil products by a subsidiary but a significant increase in profit. The speaker attributes this success to operational efficiency, service portfolio diversification, and the implementation of new technologies. They also mention maintaining cash flow stability and improving profitability margins as part of their growth strategy. The speaker's educational background and professional journey, from accounting to various industries including banking, resort management, coal trading, and heavy equipment, are briefly recounted, culminating in their current role at Elnusa.

10:03

🏆 The CFO's Approach to Team Motivation and Strategic Financial Management

The speaker, as the CFO, believes that team motivation stems from a collaborative, transparent, and well-communicated work environment. They emphasize the importance of a clear understanding of the company's strategic goals and how individual contributions can impact these objectives. The speaker's leadership style focuses on empowerment, skill development, and providing opportunities for team members to learn and grow. They value open discussions and sharing of experiences to foster teamwork and recognize collective achievements. The key to a CFO's success, according to the speaker, lies in strategic thinking, adaptability, proactive management of liquidity, effective risk management, and maintaining transparency in financial reporting. They also stress the importance of effective communication with stakeholders and leading a motivated team. The speaker outlines the financial role in achieving Elnusa's long-term goals, focusing on effective financial resource management to support sustainable strategic investments and committing to accountable and transparent financial practices to ensure not only company growth but also environmental, social, and corporate governance sustainability.

Mindmap

Keywords

💡Disruption

Disruption refers to a radical change that disrupts the usual way of doing things, often caused by new technologies or business models. In the video, the speaker mentions facing the era of disruption, which implies the need for the management to adapt to new challenges and changes in the business environment. The context suggests that the company is focusing on accelerating comprehensive data processes and managing risks to stay ahead in a disruptive market.

💡Innovation

Innovation is the process of introducing new ideas, methods, or products to improve or enhance something. The script emphasizes the importance of innovation in financial management through the enhancement of digitalization and financial reporting systems. This is crucial for the company to stay competitive and efficient in the face of market volatility and economic uncertainty.

💡Risk Management

Risk management is the identification, evaluation, and prioritization of risks followed by coordinated efforts to minimize, monitor, and control the probability or impact of unfortunate events. The speaker mentions strengthening risk management to deal with market volatility, indicating that the company is proactive in identifying potential threats and taking measures to mitigate them.

💡Strategic Navigator

A strategic navigator is someone who guides an organization through complex and uncertain environments by making informed decisions. The Chief Financial Officer (CFO) is described as a strategic navigator, suggesting that they play a critical role in mapping the company's direction and maximizing value creation, especially in uncertain economic conditions.

💡Efficient Cash Flow Management

Efficient cash flow management involves the strategic planning and control of a company's cash inflows and outflows to ensure the business has enough liquidity to meet its obligations and opportunities. The script mentions the importance of managing cash flow efficiently and optimizing costs to support the company's growth, highlighting the CFO's role in maintaining financial stability.

💡Transparency

Transparency refers to the quality of being open, communicative, and accountable. The speaker emphasizes the need for transparency in communication with stakeholders to build trust and credibility. This is achieved by providing regular updates on the company's performance and strategy, ensuring that financial reports are prepared according to standards, and maintaining a clear and consistent communication approach.

💡Regulatory Compliance

Regulatory compliance is the adherence to laws, regulations, guidelines, and specifications relevant to a business. The script mentions the importance of staying updated with the latest regulations and implementing necessary steps to comply with financial standards. This is crucial for the company to operate legally and maintain its reputation.

💡Diversification

Diversification is a risk management strategy that involves spreading investments across various financial instruments, industries, or markets to reduce risk. The speaker talks about implementing a diversified business portfolio and strengthening risk management to anticipate global market volatility, energy policy changes, and climate changes, which shows the company's proactive approach to risk mitigation.

💡Operational Efficiency

Operational efficiency refers to the optimal use of resources to achieve the best possible output. The script highlights the company's success in maintaining cash flow stability and improving profitability margins through operational efficiency, diversification of services, and the implementation of new technologies.

💡Sustainability

Sustainability is the ability to maintain a certain process or state in the long term. The company is committed to implementing accountable and transparent financial practices to support not only the growth of the company but also to ensure environmental, social, and corporate governance sustainability. This reflects the company's long-term vision to be an outstanding and sustainable enterprise.

Highlights

Emphasizing the importance of focusing on comprehensive data acquisition while considering risk factors.

Promoting innovation in financial management through digitalization and improved financial reporting systems.

Strengthening risk management to face market volatility.

The CFO's role as a strategic navigator and partner in mapping the company's direction and maximizing value creation.

Efficient cash flow management and cost optimization to support strategic investment decisions.

The necessity for CFOs to communicate actively with stakeholders, ensuring transparency and credibility.

Balancing risk and opportunity is crucial for a CFO.

Background in Business Management provides a solid foundation in financial principles.

Experience in banking and Ril sectors offers a holistic view of financial management.

Developing effective and adaptive financial strategies in response to market dynamics.

Encouraging cross-divisional communication and collaboration for strategic decision-making.

Implementing integrated financial management systems to monitor financial practices and ensure compliance.

Providing insights into financial activities and processes to non-financial divisions for optimal results.

The main goal is to improve company efficiency and profitability.

Consistent and transparent communication with external stakeholders is key to managing relationships.

Regular meetings with investors, financial institutions, and regulators to update on company performance and strategy.

Ensuring financial reports are prepared according to financial standards and presented transparently.

Being proactive in identifying opportunities from regulatory changes, such as tax incentives or new funding mechanisms.

The challenge of facing global market volatility, energy policy changes, and climate change.

Implementing strategies to diversify the business portfolio and strengthen risk management.

Achieving positive financial performance in Q1 2024 with significant net profit increase.

Maintaining cash flow stability and improving profitability margins through operational efficiency and service diversification.

The unique journey from a university graduate in 1988 to various roles in banking, trading, and asset management.

Leadership style focused on empowerment, skill development, and providing opportunities for team learning and growth.

The key to a CFO's success lies in strategic thinking, adaptability, proactive management, and effective communication.

Commitment to effective financial resource management to support sustainable strategic investments.

A commitment to accountable and transparent financial practices to ensure company growth and sustainability.

Belief in the critical role of finance in achieving Elnusa's vision to be an outstanding and sustainable company.