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Russian CFOs call for finance to play leading role in innovation.

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Finance chiefs from large organisations--across Russia came together recently to discuss how the finance function can help to drive innovation in businesses. The round-table event, which discussed the findings of the CGMA report "Managing innovation: harnessing the power of finance", attracted CFOs from companies including KPMG, Coca-Cola Eurasia, BAT Russia and DHL Supply Chain Russia.

Led by CIMA's strategic account director, Badi Promesse, the discussion explored how CFOs and finance teams at the most successful companies are deeply embedded in the process of innovation and have a clear framework to help new ideas take shape.

"CFOs are rarely expected to be the originators of a breakthrough in product or technology," the delegates heard. "But that is to misunderstand the crucial role they play in supporting innovation. With organisations now managing a large portfolio of innovation projects and needing to ensure that the right ideas are funded and properly executed, finance professionals must be at the centre. Innovation is no longer solely the preserve of dedicated...

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