CHG-Meridian CFO: Building a Data-First Corporate Culture
In an interview, CHG-Meridian CFO Ulrich Bergmann pointed out that data is the core of financial leadership. Companies need to establish a globally unified data governance structure and balance the synergy between technology and human resources to drive the success of long-term transformation projects such as ERP.
The continuous advancement of new technologies such as artificial intelligence is accelerating the evolution of the CFO role. As automation tools are integrated into finance functions, the CFO today is more like the CEO's "co-pilot" rather than merely a number cruncher—but CHG-Meridian CFO Ulrich Bergmann says that to effectively fulfill this financial leadership role, "you must master data."
"Data is key. Without data, you cannot steer." Bergmann said. Therefore, one of his core focuses is "not only to improve data quality but also to ensure you have the data structure and data governance you need in order to guide the business," he said in an interview with CFO Dive.
Putting data at the core
Building a data culture at CHG—in other words, establishing company-wide standards for data governance and structure—Bergmann says is "definitely a huge challenge." Although the company operates in more than 32 countries globally, it is also a family-owned business that tends to achieve goals in an entrepreneurial style—in which case, data processes and quality may rank third or fourth on the priority list, he said.
Bergmann joined the Germany-based company, which helps clients develop, finance, and manage their technology assets, as chief representative in March 2019 and assumed the top finance position in March 2020, according to his LinkedIn profile. Before joining CHG-Meridian, he spent a multi-decade career at Big Four accounting firm KPMG—CHG was a KPMG client—in various roles, including head of KPMG Germany's global special finance business.
In today's era, business leaders constantly seek faster and deeper insights, often relying on the CFO to provide them, making a focus on data critical. As the CEO's co-pilot, Bergmann and his finance team use tools to enable rolling forecasts rather than static ones: for example, using Microsoft's Fabric tool to pool different data points and analyze profit development over the past decade, which then provides "best case, actual case, and worst case" scenario analyses, he said.
When leveraging such tools, it is crucial to maintain a focus on governance. Importantly, "in every country, you have data scientists and data experts who truly focus on data quality," Bergmann said. "You also need to understand the data models behind different areas. Since we are a global company, you basically need at least 32 experts."
Fostering successful transformation
Focusing on data is also critical to successfully executing long-term projects or initiatives, such as introducing new solutions into the business. CHG is currently rolling out a new ERP system across its global operations, for example, a project that began three years ago.
After gaining support from global entities and selecting a partner—CHG chose SAP—the company entered the design phase, moved into the build phase about eight months ago, and is now entering what Bergmann calls the "shakedown" phase, "where you connect what was designed with what is stored in the current legacy system," he said. The company plans to enter the rollout phase within the next nine months, which could last another three years.
While data is key, the human factor should not be forgotten: finding the right talent to help guide such projects, or possessing the skills to analyze and leverage data, is another critical factor, Bergmann emphasized. When evaluating talent, Bergmann looks for both good leaders and good managers.
Leaders are those who are open to change, "and they can also convey a clear message to the team, providing stability, trust, and reliability to team members. In other words, you gain buy-in for the task," he said.
Meanwhile, managers focus on honing the individual strengths of team members, improving processes and workflows, or in other words, ensuring that tasks are executed correctly and tools are successfully applied. Whether it's an ERP transformation, AI, or machine learning-related projects, "you need to combine both aspects to make the transformation and change successful," Bergmann said.