Tag Archives: Financial Forum

AmCham Financial Forum: Ongoing COVID-19 Challenges & Adjustments for All

AmCham Financial Forum: Ongoing COVID-19 Challenges & Adjustments for All

AmCham’s latest Financial Forum was convened virtually last week with mainstay forum leads from 24SevenOffice, BAT, IBM, KPMG, OSM Aviation Management, Raise Gruppen, and Sonitor in attendance.

The concentrated open-exchange session featured candid exchange on remote financial department workflow and resource engagement, forecasting through the remainder of 2020 and beyond, shifting US and Norwegian business regulations, and internal/external supplier and customer credit processes.

Atop participants’ forecasting agendas were currency exchange rates and hedging arrangements, with several financial leads emphasizing the criticality of current cash reserves. Many noted the varying impact of COVID-19 on their respective business lines, impacted both negatively and positively in some instances. Long-term fixed costs, international supply chains and customer payment delays were addressed as key joint concerns.

While financial leads increasingly dedicate their attention to evolving government guidelines and processes, the consensus was that Norwegian guidance is relatively straightforward and agile, while at times less so for their respective US operations.

Join Us!

In response to such government guideline challenges, AmCham – together with Innovation Norway, SelectUSA and partners – will co-host a dedicated session on COVID-19 relief packages for the Norwegian American business ecosystem on Wednesday, May 13th at 17:00 Oslo time. Please join us!

About the Financial Forum

AmCham’s Financial Forum is a platform that provides cross-industry financial leads the opportunity to share best practices and have open discussions amongst peers – building a better understanding of what it takes to run a successful international finance department in Norway.  Through roundtable discussions and engaging, interactive workshops, member participants delve into real world financial operations challenges.

Please contact us for interest in participating in future forums.

AmCham Financial Forum – January 2020

AmCham Financial Forum - January 2020

AmCham welcomed financial leads from Accenture, AIG, GIEK, Harvey Nash, IBM, Kluge, KPMG, Manpower, OSM Aviation, Pfizer, Sonitor, TGI Friday’s, and Verizon to Raise Gruppen‘s downtown Oslo offices for the first AmCham Financial Forum of 2020.

The Power of Hair - What Business Are We Really In?

Raise Gruppen CEO Christinah Nicolaisen and group CFO Camilla Hem started off the forum with an overview of the company, focusing on how their services and products have evolved and diversified over time – a business transformation that has not only helped the company thrive in an increasingly competitive market, but also successfully make the jump to the United States.

“We don’t simply talk about haircuts, but rather something that defines and builds confidence. We’re not just in the hair and skin care business, we’re in the identity business,” noted Nicolaisen.

Hem then walked participants through the financial, HR, and branding challenges Raise Gruppen is encountering as they continue to expand stateside. The presentation underscored how important it is for financial leads to understand the entirety of their businesses when undergoing expansion in a foreign market.

Digitalization and Automation – Where to Start?

OSM Aviation CFO Anders Bakken then led a roundtable discussion on the importance of people in developing financial systems to cope with rapid growth, sharing perspectives from OSM’s own rapid international expansion.

Bakken’s insights resonated with many of those in attendance, who noted that they also found the development of process-driven strategies with clearly defined outcomes as a critical component in successfully implementing digital strategies. In this regard, noted one participant, Scandinavia is at the forefront of adopting such strategies – a positive note for continued Norwegian competitiveness in the sector.

Discussion then addressed the importance of recruiting talent with a passion for change, dedicated professionals that understand the ins and outs of digital solutions on a global scale. “It’s all about people,” proclaimed Bakken, before going on to note younger, less experienced workers who are passionate about innovation can be more valuable than older, more experienced workers less open to change and adaptation.

AmCham would like to thank Raise Gruppen for graciously hosting and facilitating this instalment of our Financial Forum. We look forward to our next forum gathering, which will focus upon outsourcing  and the importance of connectivity within the financial industry.

About the Financial Forum

The AmCham Financial Forum is a platform that gives financial leaders the opportunity to interact, share best practices, and learn from each other – building a better understanding of what it takes to run a successful international finance department in Norway. Our Q2 Financial Forum is in the works – for interest in participating, please contact amcham@amcham.no.