CFO Studio Magazine - CFO Innovation Award Winners

44 WWW.CFOSTUDIO.COM 2nd QUARTER 2015 How M2M Boosts the Bottom Line M achine-to-Machine (M2M) technology, also called the Internet of Things, is a rapidly growing area of manufacturing and innovation that allows so-called intelligent devices to automatically exchange data. “M2M is all about connecting machines and equipment using wireless technology to deliver ‘smart’ data and enabling businesses to track, monitor, and control their assets such as trailers, intermodal containers, heavy equipment, vessels, and fixed industrial assets anywhere in the world,” says Robert Costantini, executive vice president and CFOof ORBCOMM.The company, based in Rochelle Park, NJ, is a global provider of M2M solutions. DeployingM2Mhelps businesses achieve operating efficiencies in their factories and warehouses. It also helps themmanage remote andmobile assets around the world. “Sensors communicate through our sophisticatedM2Mdevices if a trailer door is open or closed or if a refrigerated container is operating outside of set temperature parameters while in route. Sensors can also enhance cargo security by using a ‘smart’ security cable that can be wrapped around container-locking mechanisms and send an alarm if the cable seal is broken or disconnected. Our solutions can gather engine data from heavy equipment for diagnostics or help transportation companies manage their fleets more efficiently.” For CFOs, M2M solutions can provide immediate ROI, says Costantini, and “significant operational efficiencies by delivering rich, meaningful data down to the asset level.” C S uccess as a financial executive requires gaining the trust and respect of colleagues at many levels of one’s company —which means connecting with four main types of people. There’s the “dominating” manager who makes quick decisions and typically avoids delving into the details of an issue, and the “compliant” subordinate who is likely to provide more information than the manager needs. There are also “influential” and “steady” types, whose personality attributes are essential to a smooth-running team. TimGearty, the editor-in-chief and national lead instructor for Becker Professional Education, sorts this all out for CFOs. “As an executive, you have to learn that sometimes it is important to listen to [a ‘compliant’ team member]— if you shut them down, they become less effective workers for you.” Gearty, whose background is in finance—35 years’ experience as partner at Gearty &McIntyre, LLP, CPA— says that as one “flexes his style” to better communicate, others often reciprocate: The compliant person learns to get to the point quickly, but continues to include essential details. Gearty emphasizes that understanding the four personality types is not just about social niceties: a high EQ strengthens almost every aspect of an executive’s work and relationships. “One thing that keeps executives awake at night is wondering what others are not telling them,” says Gearty. “If you know communication goes both ways, you know you’re getting the info you need.” C Sharpen Your Emotional Smarts DEPLOYING M2M HELPS BUSINESSES ACHIEVE OPERATING EFFICIENCIES IN THEIR FACTORIES AND WAREHOUSES KNOWLEDGE TRANSFER KEY TOPICS FROM THE CFO INNOVATION CONFERENCE & AWARDS