Australia’s CFOs navigate ROI on tech, AI innovation, and data governance. ADAPT’s CFO Edge explored strategies to modernise, optimise, and drive impact.

The modern CFO faces the challenge of balancing resilience, efficiency, and growth while managing costs amid rapid technological advancements and economic pressures. 

Technology now underpins strategic decision-making, with most CFOs progressing along their digital and AI roadmaps while navigating IT investments and rethinking operating models.  

However, 80% of finance leaders struggle to assess ROI on tech investments, with declining cost visibility and underutilised resources compounding these efforts.  

Cloud cost accountability challenges have risen by 150%, with unclear responsibilities creating further complexities for finance teams and increasing friction with IT.

CFO Edge’s delegation, representing over a quarter of Australia’s GDP, highlights the collective impact CFOs can have on national economic health. 

Top-performing organisations succeed by modernising platforms, fostering a tech-savvy workforce, and creating a data-driven culture that ensures actionable insights.  

Yet, 79% of CFOs report challenges accessing reliable data for scenario modelling and risk mitigation, leaving them vulnerable to external disruptions.  

Amid AI-driven transformation, sensible, forward-thinking modernisation is crucial to maximise resources and impact. 

CFO Edge provides a critical forum for finance leaders to share strategies and navigate this evolving landscape effectively. 

1. CFOs face 47% decline in tracking tech value, with cost visibility down by 30% 

Presented by: Gabby Fredkin – Head of Analytics & Insights at ADAPT 

Gabby Fredkin highlighted the importance of transparency in tech spending, showing how clear visibility into costs and outcomes helps CFOs align investments with organisational goals and optimise resources.  

With 84% of CFOs now actively involved in technology decisions, ensuring accurate cloud cost accountability is increasingly critical to achieving value realisation. 

He introduced the “AI jungle” matrix, categorising organisations into four archetypes—Koala, Greyhound, Turtle, and Tiger—based on IT modernisation and data maturity, guiding CFOs to prioritise AI investments for cost optimisation, efficiency, compliance, or growth.  

Gabby demonstrated how transparency enables stronger business cases, reduces redundant investments, and improves data automation, directly linking it to the success of technology initiatives.  

Collaboration challenges between IT and finance have increased by 100%, further complicating efforts to track and manage costs.  

Gabby urged CFOs to evaluate the “technology impact to value” ratio to identify whether their investments aim to mitigate risks, cut costs, or drive growth.  

Lastly, hestressed that AI is a long-term commitment, requiring sustained planning, clear governance, and adaptability to maximise organisational impact. 

Vendors who offer AI-powered analytics platforms can help CFOs address visibility gaps, streamline tracking of technology outcomes, and build stronger business cases for innovation. 

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2. The AI revolution in finance: CFOs and their digital minions

Presented by: Prof. Marek Kowalkiewicz, Chair in Digital Economy at QUT Business School 

Prof. Marek Kowalkiewicz delved into the transformative impact of algorithms and AI on modern workplaces, highlighting their potential to enhance productivity and decision-making.  

He emphasised that AI is no longer a futuristic concept but an integral part of organisational strategy, reshaping how tasks are automated, resources are allocated, and teams operate.  

Prof. Kowalkiewicz discussed real-world examples of AI improving workflow efficiency, optimising financial forecasting, and reducing operational bottlenecks. 

However, he cautioned that organisations must address biases in algorithms and prioritise ethical AI use to ensure fair and accurate outcomes.  

Prof. Marek urged CFOs to view AI as a tool for augmenting human capabilities, encouraging collaboration between technology and employees to achieve sustainable productivity gains.  

By embracing AI responsibly, CFOs can unlock significant opportunities to streamline operations and drive long-term organisational growth. 

For vendors, providing scalable AI tools for workflow automation and financial forecasting can empower CFOs to optimise productivity and mitigate operational bottlenecks effectively. 

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3. How is AI helping Aussie CFOs achieve financial excellence?

Panellists: Jodie Meadows, Former CFO at NRI ANZ, and Shilpa Bhale, Director of Strategy and Product Management at Oracle 

Jodie Meadows and Shilpa Bhale highlighted how AI and ERP systems are reshaping finance operations, enabling automation, improved data quality, and predictive analytics. 

Shilpa shared how Oracle’s ERP Cloud Fusion supports touch-free operations, allowing finance teams to focus on strategic decisions.  

Jodie emphasised the CFO’s growing role in balancing innovation with risk, advocating for embedding AI within finance-led systems to simplify implementation and enhance compliance.  

Both speakers stressed starting with specific AI use cases to build trust and gain buy-in, while fostering a data-driven culture to drive collaboration and innovation.  

This approach empowers finance teams to evolve beyond traditional roles, leveraging AI to align with organisational goals. 

Vendors offering AI-embedded ERP platforms can enable finance teams to automate processes, enhance compliance, and integrate innovation into everyday financial operations. 

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4. The 9 steps: What CFOs must know about data privacy and governance

Presented by: Michelle Dennedy, Chief Data Strategy Officer at ABAXX Technologies 

Michelle Dennedy emphasised treating data privacy and protection as strategic assets, comparable to intellectual property, and introduced a nine-step framework for building effective data governance strategies.  

These steps include ensuring legal compliance, fostering a strong data defender culture, and using clear metrics to monitor progress.  

She described privacy challenges as a “wicked problem” requiring flexible, ongoing solutions due to evolving regulations and definitions of personal data, especially with AI. 

Michelle urged CFOs to assess the ROI of privacy efforts and prioritise data based on business impact, innovation potential, and customer trust.  

By aligning privacy and security across teams, organisations can create adaptive frameworks that drive informed decision-making and long-term resilience. 

Vendors who deliver integrated data governance solutions with robust privacy and compliance capabilities can position themselves as essential partners in managing evolving regulatory demands. 

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5. How to unlock true value in ERP transformations 

Presented by: Jessica Eyes, Digital Leader at McKinsey & Company 

Jessica Eyes highlighted that ERP transformations require collaboration across business, IT, and analytics teams to align systems with organisational goals, rather than treating them as mere IT upgrades.  

She emphasised the need to streamline processes, prioritise essential data during migrations, and avoid “like-for-like” replacements to maximise value.  

Using agile principles can accelerate delivery, improve visibility, and enhance quality by involving users early and testing frequently.  

Jessica showcased a case where ERP standardisation led to significant savings and stressed the importance of aligning KPIs and collaborating with vendors and system integrators to ensure cost-effective outcomes.  

Moving to cloud or hybrid ERP systems is critical for future-proofing operations and mitigating risks. 

For vendors, providing agile ERP implementation frameworks and future-ready cloud solutions presents a critical opportunity to help organisations optimise processes and reduce risks during transformations. 

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6. AI’s role reshaping accounting for sustainability

Presented by: Dr. Gayan Benedict, CTO at Salesforce, former CIO at RBA 

Dr. Gayan Benedict explored the evolving relationship between AI and sustainability, emphasising how efficiency has become a core focus for AI innovation due to environmental and regulatory pressures.  

He highlighted the shift from power-intensive computational models to task-specific efficiency, exemplified by Salesforce’s use of compartmentalised AI and training in low-carbon regions.  

Companies like Nvidia are advancing AI hardware, achieving up to 67x efficiency improvements in GPUs since 2017, reducing emissions and costs.  

Dr. Gayan stressed that sustainability not only aligns with compliance but also drives innovation, enabling organisations to balance operational efficiency with carbon reduction.  

This dual approach ensures AI advancements support both environmental goals and financial outcomes. 

Vendors who develop energy-efficient AI models and provide tools for low-carbon AI training environments can align with CFOs’ sustainability goals while driving innovation. 

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7. Australian Red Cross maximises impact through innovation 

Presented by: Jean-Baptiste Naudet, CFO at Australian Red Cross 

Jean-Baptiste Naudet revealed how the Australian Red Cross leverages diverse revenue streams—including donations, 160 retail shops, and a first aid training business—to sustain its extensive humanitarian services.  

With a focus on emergency relief, community resilience, and innovative programs like the Ready app, the organisation prioritises high-impact initiatives while keeping operational costs low.  

Technology plays a pivotal role, with AI verifying claims and preventing fraud to ensure funds reach those in genuine need efficiently.  

Digital transformation has enabled scalability during crises, streamlining operations and enhancing donor engagement while allowing volunteers to focus on direct aid.  

The Red Cross finance function now drives strategic impact, maximising every dollar to support vulnerable communities effectively. 

Vendors offering AI-enabled fraud prevention tools and donor engagement platforms can help non-profits maximise the impact of every dollar while streamlining operations. 

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8. How the Sydney Opera House balances culture and commerce 

Presented by: Jon Blackburn, CFO & Executive Director Corporate Services at Sydney Opera House 

Jon Blackburn shared how the Sydney Opera House uses data-driven strategies to adapt post-COVID, aligning revenue generation with cultural impact.  

By employing tools like Power BI, the Opera House empowers departments to self-serve analytics, tailoring marketing to changing audience behaviours and boosting ticket sales through personalised recommendations.  

Operating under a diversified revenue model that includes food, beverage, tourism, and events, 90% of its income is self-generated, enabling reinvestment into free events, education, and local artist support. 

Balancing commercial success with artistic risks, the Opera House manages a fixed-cost structure akin to airlines, where event costs are incurred regardless of attendance.

Collaboration across finance, IT, and marketing ensures strategic investments in customer experience, such as digital features like seat previews and seamless ticketing, enhancing both engagement and operational efficiency.

This circular, community-focused model demonstrates how cultural institutions can achieve financial resilience while maximising community impact. 

For vendors, this is an opportunity to deliver customer analytics tools and AI-driven operational platforms that help cultural institutions balance revenue generation with community impact. 

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Conclusion 

CFO Edge showcased the pivotal role of technology in helping financial leaders tackle today’s complex challenges—from enhancing operational efficiency and aligning investments with organisational goals to navigating the evolving landscape of AI and sustainability.  

Across industries, finance leaders demonstrated how embracing digital transformation, modernising systems, and fostering collaboration drive impactful outcomes. 

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Contributors
Gabby Fredkin Head of Analytics & Insights at ADAPT
As the Head of Analytics and Insights at ADAPT, Gabby Fredkin’s primary role is managing analysis to produce ADAPT’s actionable insights to... More

As the Head of Analytics and Insights at ADAPT, Gabby Fredkin’s primary role is managing analysis to produce ADAPT’s actionable insights to identify trends supporting organisations in Australia.

With a passion for creating stories with data, Gabby is consistently rated as one of the top speakers at ADAPT’s events. In roundtable discussions, he specialises in using statistics to initiate thought-provoking discussions, enabling ADAPT’s customers to become more data-driven.​

Using modern data science techniques, he provides ADAPT and its customers with confidence in the accuracy and validity of the information used for ADAPT’s research, advisory and events.

Working across artificial intelligence, machine learning, AI ethics, DevSecOps, end-user behaviour, and human-centred design, Gabby’s vast experience continues to grow, supported in part by a Master of Business Analytics from Deakin University.

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Prof. Marek Kowalkiewicz Professor and Chair in Digital Economy at QUT Business School
As a Professor and Chair in Digital Economy at QUT and a former Senior Director at SAP’s Palo Alto Innovation Lab, I... More

As a Professor and Chair in Digital Economy at QUT and a former Senior Director at SAP’s Palo Alto Innovation Lab, I blend a Silicon Valley mindset with research rigor to transform businesses. Thinkers360 ranks me among the top 100 thought leaders in artificial intelligence.

By delivering cutting-edge commercial research, executive education, and engagement initiatives, I guide businesses and leaders through the opportunities and challenges of the digital age.

Numerous initiatives I contributed to include launching SAP’s first and largest machine learning lab, as well as its inaugural App Store application. I also played a key role in establishing Queensland’s Artificial Intelligence Hub and the state’s Digital Economy Strategy. I have served on multiple boards.

With a robust academic background, including a PhD in Information Systems and a Stanford AI degree, along with rich industry experience at SAP, Microsoft Research, and Citibank, I’m well-equipped to help you design a digital strategy, identify new business models, and navigate the opportunities of the digital age.

I am a passionate keynote speaker, recognized among the Top 100 Global Thought Leaders in AI by Thinkers360. My sessions are known for their engaging delivery and practical insights, ensuring that business professionals can navigate and leverage digital transformation effectively. Notable engagements include SXSW, where I discussed the future of AI.

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Jodie Meadows Former Chief Financial Officer at NRI ANZ
An accomplished CFO, Executive, and Director who has over 20 years of International and Australian experience across the IT, Professional Services, Telecommunications,... More

An accomplished CFO, Executive, and Director who has over 20 years of International and Australian experience across the IT, Professional Services, Telecommunications, Gaming, Hospitality, Property, and Manufacturing sectors. Professional areas of expertise span Business Strategy, Mergers and Acquisitions, Transformational Change, Project
Management, Finance and Corporate Services Leadership (e.g. IT and Legal Services), Commercial Contract and Leasing Negotiations, and Cybersecurity.
Applies an entrepreneurial spirit to develop winning business growth strategies and creative, financial propositions. Drives innovative projects that leverage digitisation, automation and AI to create robust, streamlined operational systems and generate significant cost efficiencies and margin improvements.

Engages and exercises influence with Boards, Executive Leadership Teams, and managed teams through a combination of a strategic leadership style, business insight, an outgoing personality and sense of humour.

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Shilpa Bhale Director, Strategy and Product Management at Oracle
I am a technology and transformation leader with a wealth of global experience leading finance and related transformations for large organisations in... More

I am a technology and transformation leader with a wealth of global experience leading finance and related transformations for large organisations in a variety of consulting, strategy, and delivery leadership roles.

As an Industry strategist and technology professional, I am known for
– Improving efficiency & productivity, reducing TCO, and delivering simplification
– Helping clients realize sustainable value from their technology investments
– Translating a customer-wide vision into an actionable roadmap
– Being a trusted advisor to senior executives
– Navigating ambiguity to get things done

Through my journey I have worked for multi-national organizations, based out of India, UK and Australia, and gathered rich experience across global and multi-cultural teams.

My strengths include
– Uniquely connecting business outcomes with technology solutions
– Deep Financial Services experience with strong cross-functional/ domain understanding
– Exceptional interpersonal and communication skills enabling positive relations at all levels
– Leading by Influence, Strong people leadership, coaching and mentoring capabilities
– Tailoring complex concepts to the audience and engaging large audiences effectively
– Simplifying operating models through technology to make businesses resilient and change ready

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Michelle Dennedy Chief Data Strategy Officer at Abaxx Technologies
As the former CEO of PrivacyCode and the Partner of Privatus Consulting, I have over 20 years of experience in advancing the... More

As the former CEO of PrivacyCode and the Partner of Privatus Consulting, I have over 20 years of experience in advancing the respect for human information. I am known for my experience in privacy engineering, a field that bridges the policy and technology divide with metrics and outcomes. I am also an author, a podcaster, and a strategic advisor for several technology companies.

My mission is to build better technology that matters and that promotes quality, integrity, and asset-level possibilities for information assets. I work closely with families, executives, innovators, and dreamers at all stages and in all sectors to support the combination of policy, practice, and tools. I am passionate about creating solutions that enable data privacy and security, as well as social and environmental responsibility.

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Jessica Eyes Digital Engagement Manager at McKinsey & Company
Jessica a digital expert with a focus on value capture and assurance in large-scale, value-driven transformations and technology simplification programs. She has... More

Jessica a digital expert with a focus on value capture and assurance in large-scale, value-driven transformations and technology simplification programs. She has worked extensively with executives across the UK, Australia, and Asia, addressing both technical complexities and business concerns. Her expertise spans a diverse range of industries, including global firms like McDonald’s and Unilever, as well as launching digital startups.

Since moving to Australia in 2019, Jessica has honed her skills across the entire software delivery lifecycle, adopting customer-led development and translating complex technical details into user-centric outcomes for clients ranging from large corporations to equity-backed startups. She played a pivotal role in establishing McKinsey’s ERP Value Assurance Service Line in Australia and New Zealand.

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Dr. Gayan Benedict CTO - ANZ at Salesforce
Gayan is an experienced technology leader with a proven record of delivering technology change and digital transformation, innovation, resilience, research collaboration and... More

Gayan is an experienced technology leader with a proven record of delivering technology change and digital transformation, innovation, resilience, research collaboration and talent development.

Gayan is member of the global ISO Technical Committee TC/307 for Blockchain and DLT Standards, a 2023 Fulbright Scholar and an Industry Research Fellow at the MIT Sloan Center for Information Systems Research.

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Jean-Baptiste Naudet CFO at Australian Red Cross
JB is the CFO of the Australian Red Cross and also recently worked in another Not for Profit organisation as the CFO... More

JB is the CFO of the Australian Red Cross and also recently worked in another Not for Profit organisation as the CFO and Executive Director of Enabling Services of St Vincent de Paul NSW. Previously JB worked for Johnson & Johnson (J&J) for 10 years as Financial Controller of the Medical Device Division and then CFO of the Consumer Health Division.

JB worked also for the Pharmaceutical division as the APAC Commercial Director for Business Intelligence, New Business Development and Strategic Marketing. Prior to J&J, JB worked at Coca-Cola Amatil, Flight Centre, and Thales.

He has been recognised throughout his career for the ability to build and enhance strong team cultures and increase engagement outcomes. JB was born and educated in France but has been living in Australia for 25 years. He is a Chartered Accountant and a Graduate of the Institute of Company Directors.

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Jon Blackburn CFO & Executive Director Corporate Services at Sydney Opera House
A senior finance and business professional, keen to expand my executive board experience with a non-executive board position. Over 30 years’ experience... More

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budgets data compliance