On October 13 and 14th, Tipalti kicked off its first-ever Illuminate conference. Leadership-focused breakout sessions, networking opportunities, improv, and iconic keynote speakers—including tennis pro Venus Williams, and undercover agent Robert Mazur—provided a lot of learnings to take home.
The main theme of the COVID era is going radically virtual—businesses are relying on innovative technology and automation. Over a thousand attendees entered the Illuminate virtual breakout rooms to discuss current finance trends and what to anticipate in the future.
We were excited to talk shop on robust tech stacks, modernizing your operations, and the future of finance. Here are our favorite takeaways from the conference:
Women Leaders in Finance
In 2020, Women made up 59.7% of all accountants & auditors and 52.6% of financial managers in the US, according to the US Dept of Labor’s Bureau of Labor Statistics.
So how do we propel more women to become tomorrow’s finance leaders and CFOs? Our female finance leaders panel offered insight into transitioning into leadership roles, mentoring and coaching future female leaders, and supporting peers.
Young professionals in the finance field seek support and training from women in the industry. By networking and establishing relationships with mentors, coaches, and sponsors, females in finance are launching themselves to infinite success.
Day 1 Opening Keynote
Tipalti is a classic startup workhorse to unicorn story. Chen Amit, CEO & Co-Founder, saw a pain point in business, coded a program in his own laundry shed for two clients, and watched it grow on its own. His friend and successful investor, Oren Zeev, linked him with a colleague who was struggling with managing payments to suppliers—he was sinking and needed an automation lifejacket.
Today, Tipalti is partnering with companies like Duolingo & ironSource, both of which have gone IPO this year. These innovative corporations have reached individuals on a global scale. Duolingo is the most successful language platform today, offering anything from Hawaiian to High Valyrian, and ironSource is one of the original mobile SDK providers to provide augmented reality ads for gamers.
Tipalti’s mission is to partner with innovative businesses, like Duolingo and ironSource, to help them achieve global success.
Establishing Communities of Influence: How the Creator Economy Affects Business Operations
Last August, The New York Times moved Creator Economy from their culture section and into the business section. Creative powerhouses (TikTok, YouTube, MasterClass, Instagram) are disrupting the digital marketplace. The creator economy, which has nicknames like passion economy and enthusiasm economy, refers to the idea that independent content creators can have a career they love through the internet—a large base being social media influencers.
You no longer need a gatekeeper to break into the business—tools are readily accessible to anybody now. You can build an audience and engage and monetize that audience online all over the world.
Evolving Role of the CFO—Architect, Catalyst, & Strategist
Technology enables CFOs to fulfill their strategic objectives.
CFOs are spending more time with fellow executives, discussing innovative technology, and forecasting the future of finance. They are asking themselves, “How can we grow faster? And how can we improve in this market?”
The role of the CFO has changed. It’s gone from a number-crunching, back-office job to a strategic position across the enterprise. And CFOs know the key to success is implementing the right technology for the business.
Future of the Finance Team
The virtual workforce is growing exponentially and finance leaders must ensure that their team is part of a community. But with new geographic and operational change, how do you make sure that your employees remain motivated and feel like they’re part of a team?
Accessible technology helps maintain positive employee morale and team member retention. Eliminating workflow bottlenecks and complexities will attract young finance professionals and prove to employees that you have their best interests at heart.
The future of the finance team is technology-driven. Employees want to complete tasks and take on rewarding projects. A straightforward, effective platform enables employees to achieve these goals.
These were our key takeaways from the conference, but if you weren’t able to attend Illuminate 2021 be sure to catch up on these sessions and more on-demand.