CFOs, regardless of industry, have been heavily focused on integrating new types of technology to improve finance departments. Cutting costs, improving data accuracy, and increasing productivity are top of mind for finance chiefs.
Even for a non-profit organization like Planned Parenthood Federation of America, building technology into the finance function is a major undertaking. For CFO Ilana Esterrich, who undertook this responsibility one year ago, her strategy impacts the organization as well as over 600 women's health clinics across the country.
Ilana Esterrich
CFO, Planned Parenthood Federation of America
- First CFO position: 2011
- Notable previous companies:
- American Coatings Association
- Center for Strategic and Budgetary Assessments (CSBA)
- Thomson Reuters
- General Mills
This interview has been edited for brevity and clarity.
ADAM ZAKI: You've spoken about your organization’s digital transformation since you joined just over a year ago. Can you walk me through some of the challenges as CFO you've faced during this process?
ILANA ESTERRICH: Planned Parenthood saw a lot of challenges during and in the wake of COVID-19. We faced pressure from anti-abortion politicians who tried to ban the services we offer, and there have been multiple defunding attempts. So our organization has dedicated the past few years to prioritizing business continuity.
Through this effort, we realized how much technology plays a part in this. Our efforts around new technology have a goal of ensuring that our organization can direct maximum attention resources towards the mission. And so to be able to achieve this, we have made some strategic decisions on where to invest our operating funds.
Lately, we have been shifting focus to the foundational operations and systems side of things so we can make sure they are optimal and functioning correctly. This approach involves things like eliminating our inefficient workflows and systems, and it extends beyond just automating manual work in finance and accounting.
" I have never been in a CFO role — and this is my third one now — where everything is in a perfectly steady state."
We are looking to eliminate and reduce non-value-added tasks across the entire organization. And then we're also looking to transform the entire office of the chief financial officer so we can become strategic business partners across the entire enterprise.
We are working collaboratively with human resources, information technology, legal, and other administrative operations across the entire traditional back-office environment because we're looking to find ways to enhance our workstreams, share resources, and support all of the support functions. One of the ways we're looking at is to focus on automation and finding ways to reduce manual work and enhance our tech stack.
When implementing a digital transformation, how do you define value in the marketplace of products? What is your evaluation process when considering a piece of technology?
ESTERRICH: I have never been in a CFO role — and this is my third one now — where everything is in a perfectly steady state. I joined right around this time last year, and a lot was going on structurally and organizationally. And it was right in the middle of when we forecast and create budgets and have board meetings — there's a lot going on this time of year. But there's a certain amount of interrogation that you have to do in your organization as to whether you're a new CFO or just a new executive in an organization.
So I spent a significant amount of time upfront, meeting with my peers in the C-suite and with vice presidents. Then, it was moving those conversations all the way down to meeting with everyone I could within the finance function to understand what is the need, where are the pain points in workflows, and really sift between what matters. I looked for the processes that needed to be repaired, adjusted, or innovated on. I also looked for any system or application deficiencies that needed to be fixed.
"A lot of my personal relationship style at work comes from my time in the military. I take care of my people and firmly believe that leaders eat last."
It helped the process to have my priorities set. I also go to quite a few conferences every year, and there are always some new entrants into the tech stack marketplace or concepts concerning AI. And that's a hot topic right now. But it's important to kind of sift through the knee-jerk solutions. Technology can be pretty or sexy sometimes, but we as CFOs need to be able to make a very strong judgment on whether this tool applies to the problems that we're trying to solve.
So I think eliminating some of the marketplace noise involves knowing what you're trying to solve for, and what you're going to get out of solving those problems.
What experience do you credit the development of your leadership style to, and how do you put that style into practice?
ESTERRICH: A lot of my personal relationship style at work comes from my time in the military. I take care of my people and firmly believe that leaders eat last. I like to leverage all that to create an environment where we have well-defined performance objectives, a sense of trust, and a sense of organizational safety. I strive to create an environment where people feel empowered to raise issues properly. I also encourage creativity and flexibility.
"When I look at opportunities in my career, I choose organizations as much as organizations choose me. I find purpose in the work that I do, and that’s important to me."
Even at my level, I don't have a magic wand, I don't have a Harry Potter Sorting Hat or a crystal ball. So I want my team, and everyone in the organization, to be comfortable speaking up and sharing their thoughts. When we accomplish things, I want everyone involved to have a sense of pride knowing they carried an idea from inception to a fully realized solution.
What made you pursue this role at an organization like this, and were there any deciding factors that made you want to take this job?
ESTERRICH: When I look at opportunities in my career, I choose organizations as much as organizations choose me. I find purpose in the work that I do, and that's important to me. After all, we dedicate a significant portion of our lives to our work. It would be disheartening to me to invest time and effort in organizations without a clear purpose.
So when I was invited to interview for this current role, what drew me in was the mission, the objectives, the purpose, the team, and of course, the brands. Planned Parenthood, after all, is the nation's leading provider and advocate of high-quality, affordable sexual and reproductive health care, and it's also the nation's largest provider of sex education.
The organization has over 600 centers across the country. We serve all patients with care and compassion, with respect, without judgment. So the opportunity to make a meaningful difference, and be part of such an important organization dedicated to protecting the rights and freedom and the right to sexual reproductive health was a huge incentive for me to accept this position. And it's a privilege to be here and be a part of this team.