A company’s financial health is not solely a matter of numbers. Today, regional integration, transparent reporting, and strategic thinking are all critical factors in maintaining competitiveness. These were precisely the key focus areas at this year’s Regional CFO Meeting of the UBM Group, where the company’s international financial leaders gathered to address shared challenges through coordinated solutions. Dávid Bagosi, Head of Accounting at UBM, offered insights into the professional objectives and key takeaways of the two-day event.

 

What was the main objective of the Regional CFO Meeting at UBM? How often is it held, and where and when did this year’s event take place? How many countries participated?

We usually hold the Regional CFO Meeting annually, but this year’s meeting was held in a slightly different format than usual. It was a more focused gathering, attended by the CFOs of our international commodity subsidiaries from Serbia, Austria, Italy, and Romania.

The sessions were conducted in English, and instead of the usual one-day format, we organized a two-day program. The event was hosted at our headquarters in Pilisvörösvár, providing participants not only with thematic discussions but also the opportunity to meet colleagues from other financial areas and gain first-hand insight into how local operations work.

What topics were on the agenda?

We kicked off the first day with a workshop focused on defining and aligning CFO roles and responsibilities across the region, exploring how we can better understand and harmonize each other’s functions. A key goal was to reinforce the “one UBM” mindset: how we can function as a cohesive team, regardless of working in different legal entities or geographic locations.

The second morning focused on professional topics, such as standardizing monthly and annual closings, preparing for audits, and enhancing reporting efficiency. In the afternoon, participants had the opportunity to present individual topics — our Italian colleague, for instance, shared an update on the current status of the IFS implementation.

The program concluded with a sightseeing walk in Budapest, organized by Group CFO Balázs Janositz, a perfect way to wrap up the two-day meeting.

In your view, what is the greatest responsibility of a regional CFO in today’s economic climate?

First and foremost, maintaining “classic” financial discipline: timely and high-quality closings, and ensuring operations are transparent and auditable.

Secondly, a local CFO must truly understand the business, grasp the processes behind the figures, maintain control over their financials, and be able to deliver fast, accurate, and relevant data that effectively supports decision-making, whether the request comes from local management or the central finance team.

Is UBM planning to implement any new financial systems or tools to enhance efficiency, perhaps due to EU or regulatory requirements?

Currently, there is no immediate regulatory pressure to overhaul our financial systems. For example, the EU’s sustainability reporting requirements, due to the so-called “Omnibus package”, have been postponed by two years, giving us more time to prepare.

That said, we continually explore tools to enhance the efficiency of our work. Power BI is a good example; it’s playing an increasingly important role in management reporting. The foreign CFOs also gained a comprehensive overview of how we currently use this tool and the additional opportunities it offers for supporting their operations.

What was the most valuable, inspiring, or surprising moment of the meeting for you?

For me, the most valuable aspect was being able to discuss common business issues and challenges face-to-face. It’s a completely different experience from doing it online. I believe we’ve begun to foster a more unified mindset, and a level of team collaboration is emerging that we can build upon in the long term.

What is the biggest collective challenge?

From a professional perspective, it’s the coordination of closings and audits. A consolidated financial statement can only be prepared on time and to the required standard if all subsidiaries complete their year-end processes. This is a prime example of the saying “a chain is only as strong as its weakest link.”

In terms of collaboration, the challenge lies in whether we can function as a real team remotely. This requires trust, regular communication, and shared objectives. The Regional CFO Meeting was an important step in that direction, reinforcing my belief that we’re on the right path.