On a page
When it comes to building a clear vision and change story, there is one element which I have found very useful. It is the “strategy on a page”, laying out our entire change story in a single narrative. Not revolutionary, I know, but such a document does help to clarify to everyone the direction we are taking and how we are contributing to ANZ’s purpose.
The one pager is key. Can everyone - leader or not - talk to the narrative of who we are, what we do and why we do it?
Another issue being tackled - and this is industry-wide – is that technology often suffers from using financial modeling that doesn’t directly connect with the finance view.
Technology businesses tend to build out financials on a project and asset basis. Finance departments need a more end-to-end view focused on the value created and the services supplied. Addressing this tension is a critical driver of quality decision making.
According to ANZ Chief Financial Officer Michelle Jablko, it’s really important there is one source of truth.
“We get to the same fact base and then we can have a discussion about the strategic drivers rather than having a big debate about, well, is this number right or not?” she says.
Understanding the canvas
ANZ also recently developed the “technology canvas”. Our board requested a view of the total technology real estate needed to enable conversations. Working with the chair of the Tech Sub Committee, we came up with the technology canvas.
It has evolved somewhat but the principle is simple: get all of the real estate on to one page so people can roughly understand how the components are inter-related. This can then be overlayed with factors like budget, spend, talent, risk etc.
The technology canvas provides clear attributions across the business and enables meaningful conversations with the board and leadership. I concede this was a real challenge but a very worthwhile one as it has become a frequently used tool.
While we have been working hard on this since 2017, I would still say it is early days. We have spent a lot of time getting the foundations in place and hope to see the real impact on the business start to manifest itself this year.
That will be a good story.
Gerard Florian is Group Executive, Technology at ANZ