Original content provided by BDO Global. 

Driving value through digital transformation: insights from Cécile Parker, CFO of Vital Energi 

 

The role of the CFO continues to evolve, increasingly aligning itself with new, modern definitions of value. As CFO of Vital Energi, Cécile Parker has emerged as a figurehead of this transformation, championing the integration of technology, sustainability and innovation to unlock new opportunities for growth. In this interview, Cécile shares her insights on how the finance function is evolving into a key driver of value creation, not just through financial oversight but by fostering a culture of adaptability, diversity and forward-thinking strategy. From guiding digital transformation to shaping ESG initiatives, Cécile explains how the CFO’s role is expanding to meet the demands of a rapidly changing business environment. 

 

 

Cécile, could you start by telling me a bit about Vital Energi? 

 

In a nutshell, Vital Energi provides energy solutions to businesses in the UK. We offer a variety of services including energy generation, distribution, supply and consumption management. Our overall mission is to protect the planet for future generations. We’ve been around for four decades, and I've been lucky to be part of it for nearly three years. 

 

And as CFO, how would you say your role has changed over the last couple of years? 

 

There’s certainly been a lot of change. We’re moving away from the traditional ‘bean counter’ role – where finance was primarily seen as number-crunching, focused on reporting and compliance – to becoming real strategic partners within the business. It’s no longer just about tracking the figures; it’s about interpreting them, understanding what they mean for the organisation, and using that insight to drive decision-making. 

 

As a business, we’re actually preparing for an exit in the next three to five years, so that’s had a big impact on how my role has evolved. We need to be thinking strategically about what will make the business most attractive to potential buyers, whether that’s optimising profitability, strengthening our market position or demonstrating sustainable growth. It’s about seeing the bigger picture and making sure we’re positioning the business in the best way possible for the future. 

 

Is there a key area where the finance function can add value now that it couldn’t in the past?  

 

I think one of the biggest areas is around ESG. There’s already a lot of regulation emerging in that space, which means we have to stay ahead of compliance requirements but, beyond that, ESG is becoming a key factor in how businesses are valued. From an exit perspective, private equity firms and investors aren’t just looking at financial performance – they’re assessing sustainability, governance and the long-term impact of the business. They want to see that companies are not only financially strong but also responsible and future-proofed. That shift has changed the way we approach value creation, and I’m sure will continue to drive significant transformation in the coming years.  

 

What is your key focus at the moment in terms of driving value?  

 

Digital transformation is where most of my energy is going right now. As I said, the business has been around for over forty years, and some of our processes and systems are just as old. A big part of this is implementing a new ERP system. Right now, we have a collection of different processes and systems, but many of them don’t communicate with each other, meaning we don’t have a single version of the truth. We’re also heavily investing in new technology, including automation and AI, which is helping us make big strides in streamlining processes and improving efficiency. My key focus is on eliminating as many manual processes as possible, particularly around month-end reporting. Ultimately, I’m working to build a data-driven culture within the finance team. Rather than relying on gut feelings, we want decision-making to be backed by solid data and insights. This, I believe, is where finance can create real value – not just by providing numbers, but by turning those numbers into meaningful information that drives the business forward. 

 

Have you faced any challenges with introducing new ways of working?  

 

A really big part of digital transformation is bringing people on the journey – actively engaging stakeholders and communicating the benefits of the change. Because, very often, change can be difficult, and people are naturally resistant to it. 

 

Some of our employees have been here since the company started. So, when I tell them, for example, that an engineer who used to send a goods receipt via fax will now be doing it on their phone, that’s a huge shift, for them and for us. It’s all about communication, training and making sure the team feels supported as they adapt to new technology.  

 

You mentioned ESG. Have you faced any challenges embracing this new part of your role?  

 

We have actually just started producing our first sustainability report which has required new skills that we don’t have in-house, so we’ve engaged with external advisors to help us get to grips with the processes and expectations. Sustainability isn’t just a buzzword, it’s a fundamental part of our business operations, reputation and long-term success, which ties directly into value creation. That’s why it’s so important to get this right. Embracing ESG has been a collaborative process and, together with our advisors, we’ve worked closely to identify the most relevant ESG issues for our business and set meaningful goals. They’ve also helped us develop a risk management framework, performance measurement and stakeholder engagement strategies. This has given us a deeper understanding of what’s required long-term.  

 

Has it been difficult to set those initial goals around ESG? 

 

Goal setting is difficult because you want to set targets that are ambitious enough to drive real progress but, at the same time, they need to be achievable. Once they’re published, they’re in the public domain, and people will look back and say, “You said you were going to do X, and you haven’t.” So yes, it’s nerve-wracking but I have confidence that we’re moving in the right direction. 

 

What advice would you give to younger team members aspiring to become CFO in the future?  

 

One thing I regularly tell my team, especially those just starting their careers, is that our jobs are changing. But while our roles are evolving, our remit remains the same. We're just adding to our toolbox with automation, AI and other advancements. For younger team members, I advise them to look closely at what's happening now because the job they’ll have in 20 years will be very different from mine. The two main areas I suggest they focus on are AI and ESG, particularly ESG reporting. Organisations like ACCA, for example, are creating new diplomas and training programmes specifically for these areas, preparing people for the jobs of the future. This is critical, so we need to upskill and reskill people. We want to make sure that the new entrants to the workforce are ready to handle what's coming, not just what we’ve been doing for the last 40 years.  

 

Finally, in a few words, how do you define value within your role as CFO?  

 

Given the journey we’re on at Vital Energi, with a potential exit in the next three to five years, value is largely determined by the enterprise value we can achieve. For me, the value I add is ensuring profitable, scalable and sustainable growth. From a private equity perspective, it’s about demonstrating a commitment to green growth – renewable energy integration, energy efficiency, a circular economy and a stable supply chain. While the numbers and regulatory frameworks are important, my focus is on creating value for the organisation, ultimately attracting top private equity investors in the near future. 

 

 

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Goodbye to the CFO, hello to the Chief Value Officer 

Research by the Association of Chartered Certified Accountants (ACCA) and BDO reveals how the role of the CFO is evolving beyond finance to include sustainability, social impact and non-financial reporting areas. Over 100 CFOs and business leaders from around the world took part in roundtables and in-depth interviews to share their insights into how the traditional role of the CFO is changing, resulting in the 2023 report Chief Value Officer - the important evolution of the CFO. 

 

The dynamic shift from CFO to CO:  

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