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FDs told to pick the soft centers; David Kappler, group FD of Cadbury Schweppes, advised delegates at CIMA's GBMW Event how to enjoy the sweet taste of success.

Document Cited in Related
Vincent
AuthorParry, Charlotte
PositionGBMW Round-up

The next generation of financial managers must be business partners rather than traditional accountants and will need to develop different skillsets to be successful, according to David Kappler, group finance director at Cadbury Schweppes.

"Finance people have a powerful and influential future," he said. "They will be freed from their traditional number-crunching role and will take on more responsibility in other areas."

Many of the technical tasks that accountants used to do have been taken over by systems such as SAP, he argued. Chief executives can get financial information at the touch of a button. Financial managers must become active business partners, working with other functions such as marketing, sales and the supply chain. They must create value through tax planning and balance sheet management, improve understanding of the economic environment in which the business operates, be more proactive and challenge the business.

Success for finance people in this area will ensure them a seat at the strategy table, Kappler added. But finance staff will also need to develop new skills to grasp these opportunities. "There's no one size fits all finance manager," he said. Finance people will still need a specialist finance background, but they will also need broader skills such as effective leadership, management, objectivity and coaching.

"There is a need for communication skills as well as financial...

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