Milan Bukumirovic<\/strong><\/a>, summarized the key takeaways from this outstanding event.<\/p>\n\n\n\nBased on insights from the Horv\u00e1th survey of financial directors, the conclusion is that we remain optimistic despite economic uncertainties, with a focus on short-term measures that deliver long-term benefits, particularly through leveraging the opportunities offered by (Gen)AI.<\/p>\n\n\n\n
At the Tax Debate<\/strong> panel, we discussed whether tax reform is feasible under conditions of deficit and uncertainty, and how to improve tax-legal certainty while learning from international practices. One of the conclusions was that relatively small, but smart and structured investments in the administrative capacity of the Tax Administration can lead to very significant results.<\/p>\n\n\n\nAt the Tax Practice<\/strong> panel, very practical advice was shared on what triggers a tax audit, the steps to take before, during, and after an audit, the responsibilities of financial directors in tax inspections, and what the new trade and taxpayer registers bring us.<\/p>\n\n\n\nAt the \u201cCFO and AI<\/strong>\u201d panel, one of the key points was that AI is not a replacement, but a \u201csuper-assistant\u201d that automates routine tasks, enables faster forecasting, and gives people more time for strategic decisions. From continuous forecasts to optimizing P&L analyses, AI boosts productivity and helps teams focus on the business rather than the spreadsheets. To quote one of the panelists: AI is like Nikola Joki\u0107 \u2013 a brilliant player who, wherever he plays, increases the value of every individual player and elevates the value of the entire team!<\/p>\n\n\n\nIn the dynamic world of financial management, a CFO\u2019s success depends on their readiness for change and the continuous review of processes. A CFO is not just a financial expert, but a visionary who builds and leads teams and drives transformation\u2014this was one of the key takeaways from the \u201cThe CFO Playbook\u201d panel. We also received concrete recommendations to<\/strong> \ud835\uddf2\ud835\uddfa\ud835\uddef\ud835\uddff\ud835\uddee\ud835\uddf0\ud835\uddf2 \ud835\uddf0\ud835\uddf5\ud835\uddee\ud835\uddfb\ud835\uddf4\ud835\uddf2, to listen carefully within the team, and to be outspoken and authentic towards ourselves.<\/strong> A dobili smo i konkretne preporuke da <\/strong>pr<\/strong>\ud835\uddf6\ud835\uddf4\ud835\uddff\ud835\uddf9\ud835\uddf6mo <\/strong>\ud835\uddfd\ud835\uddff\ud835\uddfc\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\uddf2, da je s<\/strong>\ud835\uddfb\ud835\uddee\ud835\uddf4\ud835\uddee u timu i da budemo od<\/strong>\ud835\uddf4\ud835\uddfc\ud835\ude03\ud835\uddfc\ud835\uddff\ud835\uddfbi <\/strong>\ud835\uddfd\ud835\uddff\ud835\uddf2\ud835\uddfa\ud835\uddee <\/strong>\ud835\ude00\ud835\uddf2\ud835\uddef\ud835\uddf6. <\/strong><\/p>\n\n\n\nAt the \u201cBest Practices<\/strong>\u201d panel, we heard excellent examples of effective practices. A shared conclusion was the necessity of close collaboration between a company\u2019s business and IT teams. Key insights included that a well-designed BI architecture enables deep insights into the P&L, eliminating delays and manual work; that clearly defining the business problem leads to efficient technological solutions with measurable ROI; and that cybersecurity should be a strategic priority\u2014IT risks are financial risks, and companies must proactively manage cyber threats, asking themselves, \u201cHow much does it cost if the company is down for a day?\u201d Efficient IT architecture and high-quality data form the foundation for scalable and modern financial processes. Technology is not just support\u2014it is key to strategic decision-making and competitiveness.<\/p>\n\n\n\nWe concluded the first day with the idea of immortality\u2014or, to quote our special guest, \u201cDEATH IS NOT AN OPTION.\u201d Jose Cordeiro took us, in a very dynamic and vivid format, on a journey exploring revolutionary ideas of longevity and immortality, as well as scientific advances that are reshaping the future of business and life.<\/p>\n\n\n\n
There were many fascinating insights at the six thematic workshops.<\/p>\n\n\n\n
Planning<\/strong> \u2013 perhaps the biggest takeaway is that the time has clearly come to automate planning, as it can truly deliver added value, not just save on manual work.<\/p>\n\n\n\nAutomation \u2013<\/strong> The general conclusion is that everyone already uses automation and software to some extent, with the tools we rely on most being Microsoft Power tools.<\/p>\n\n\n\nDigital Transformation:<\/strong> The conclusion is that this is not exclusively a technical project\u2014it involves changes in culture and processes. The CFO\u2019s role is extremely important in all of this; they are not just the guardian of the budget but an agent of all these changes. They are not only someone who knows the cost of everything but also understands its true value.<\/p>\n\n\n\nData Management:<\/strong> Data management is a very important topic. The goal is to ensure the required data quality and security, and, of course, to define data ownership. A key prerequisite is for management to recognize the significance of data-driven management.<\/p>\n\n\n\nCost and Process Optimization:<\/strong> It is important to consider both short-term and long-term optimization processes, depending on the maturity of the company and the CFO. There must be a culture of accountability within the organization. Many different factors influence cost and process optimization.<\/p>\n\n\n\nM&A:<\/strong> Preparation is key\u2014especially when it comes to a structured process. The role of the finance department and the CFO is extremely important, which is not an easy task given all the daily responsibilities they manage.<\/p>\n\n\n\nAt the Risk Management<\/strong> panel, it was fascinating to examine a wide range of risks\u2014from climate change and natural disasters to human factors and stress levels faced by financial directors in their daily work, especially when making necessary but stressful decisions, as well as geopolitical risks and their impact on business\u2014from U.S. trade sanctions to sanctions on NIS, the effects of the Ukraine crisis, and many others.<\/p>\n\n\n\nAt the panel on Sources of Financing<\/strong>, we presented a new market opportunity made possible with strong support from the Ministry of Finance and the World Bank: the issuance of corporate bonds on the Belgrade Stock Exchange. The company Elixir also shared its experience, having recently completed a successful issuance of a corporate green bond.<\/p>\n\n\n\nAnd finally, in a very important discussion \u2013 Banks and CFOs with our esteemed bankers from UniCredit, Erste, and AIK<\/strong> \u2013 the key message was that communication with the bank should not happen only when a product is needed; rather, the partnership should be continuously maintained and strategically approached. Additionally, it was highlighted that the economy is underleveraged and there is room, through partnerships with banks, to finance economic growth.<\/p>\n\n\n\nThank you to all of you who actively participated\u2014on panels, in workshops, during breaks, and at dinner. Thank you for sharing knowledge, asking questions\u2014over 300 questions submitted via the SLIDO app\u2014listening, and recognizing the importance of such a gathering at a time when networking is more valuable than ever.<\/p>\n\n\n\n
Special thanks go to:<\/p>\n\n\n\n
\n- Our partners: Farseer, Orion Telekom, Erste Bank, Horv\u00e1th, Aigo, UniCredit, Ernst & Young, AIK Bank, Mainstream, Sava Insurance, and M&I Systems<\/li>\n\n\n\n
- For refreshments: NutrinoLab and Knjaz Milo\u0161 \u2013 Rivolta \u2013 Pepsi<\/li>\n\n\n\n
- For gifts: Viola Verde<\/li>\n\n\n\n
- And of course \u2013 our technical partners from Inovations, the PR team at Headline, the hosts from Grand Hotel Kopaonik, designers, photographers, videographers, interpreters, and all the behind-the-scenes collaborators.<\/li>\n<\/ul>\n\n\n\n
And a special thanks go to the members of the Conference Program Committee<\/strong>, who are most responsible not only for the program content but also for ensuring that the conference was delivered at such a high level. Thank you for your invested time, energy, knowledge, and dedication: Savo Bakmaz, Dejana Backovi\u0107, Sa\u0161a Mla\u0111enovi\u0107, Marko Cili\u0107, Milo\u0161 \u0110ukanovi\u0107, Mina Janji\u0107, Violeta Kova\u010devi\u0107, Radmila Mileti\u0107, Zoran Daljevi\u0107, Sanja Keranovi\u0107, Branislav Lon\u010dar, Dragan Ranisavljevi\u0107, Brankica Trajkovi\u0107, Marija Kujovi\u0107 Stanimirovi\u0107, Tatjana Vorobijev, Verica Teofilovi\u0107, Slobodan \u017depini\u0107, Anita Lazovi\u0107, Anastasia \u010cu\u010dulis Cvetkovi\u0107, Jelena Goji\u0107, Filip Paunovi\u0107, Jovan Krsti\u0107, and Milo\u0161 Anti\u0107.<\/p>\n\n\n\nAlso, a big thank you to all of you who chose to invest your time, money, and attention to be here. We appreciate the trust you have placed in both our Association and this conference.<\/p>\n\n\n\n
I know that some of you here have already started thinking\u2014about the next one<\/em>.<\/p>\n\n\n\nUntil then \u2013 let\u2019s stay connected, support one another, and remember that even when it\u2019s tough \u2013 CFO.<\/p>\n\n\n\n