The burgeoning digital era has underscored just how quickly things can evolve and change. Gary McGaghey has monitored these evolutionary changes within the field as a chartered management accountant and CFO, leading Williams Lea Tag, an end-to-end marketing production and services group for businesses worth in excess of 1.3bn.
While focused on the work in front of him, Gary McGaghey understands the importance of looking to the future to ensure a flourishing extended system that keeps up with new technology while maximising strategic services. All of this, Gary McGaghey notes, is integral to the longstanding success of professionals within the field.
Let’s take a closer look at a few concepts that Gary McGaghey has emphasised during his time with Williams Lea Tag.
Invite Fresh Perspectives
While technology has been a huge instigator in the fight for fresh perspectives, otherworldly events have shaped the business sphere. Gary McGaghey points to COVID-19 and the ongoing crisis it has presented as something leaders should take a lesson from. McGaghey emphasises the importance of meeting the demands of COVID-19 while not shying away from long-term thoughts and perspectives. What does this mean in practice? McGaghey suggests that finance teams should inquire after and embrace new tech solutions while approaching problems differently.
CFOs fighting for success in a rapidly expanding field will find that furthering their fight for innovation can bring in serious positivity to the workplace. A survey conducted by EY revealed that 44% of respondents had plans to drive innovation while working with other in-house company units. Nearly 37% of respondents detailed their plans to use a more open approach to work with external providers.
Ultimately, Gary McGaghey suggests that CFOs can build their innovation capability by properly defining their vision, underscoring their company’s enterprise strategy, and utilising the different teams within their house to create a collaborative and open ecosystem.
Cloud Computing and Data Analytics
In the rush toward the future, cloud computing has taken centre stage with businesses looking to manage their digital transformation strategies. This involves working with cloud providers who have invested heavily into the security field to provide protection to data and apps, something particularly of note in today’s world where cybercrime is only becoming more common.
Managed Services Strategy for Ultimate Transformation
Finally, Gary McGaghey emphasises the importance of facing and overcoming the heavy pressure presented by demanding stakeholders. To overcome this weight and the distraction associated with these responsibilities, CFOs need to capably rewire their finance technologies to meet the challenges surrounding them.
CFOs that are looking to overcome these specific challenges will want to look to managed services so that they can offer understanding, regulatory credibility, global reach, and prominent experience within the sector. According to a report conducted by EY, these managed services provide CFOs with the time they need to lead in-house activities.
Learn More About Gary McGaghey
Gary McGaghey operates as a chartered management accountant and CFO best known for his ability to find impressive and considerable financial success. McGaghey currently operates as the Group CFO of Williams Lea Tag, an end-to-end marketing production and services group worth more than €1.3bn. McGaghey has lived in four different countries, including South Africa and Saudi Arabia while developing the expertise he uses today to succeed in a global and interconnected world.