Posted tagged ‘Changing Nature of CFOs role’

The Greatest Challenge facing CFOs, Changing Nature of CFOs Role

October 9, 2009

“Somehow I can’t believe that there are any heights that can’t be scaled by a man who knows the secrets of making dreams come true. This special secret – curiosity, confidence, courage, and constancy, and the greatest of all is confidence. When you believe in a thing, believe in it all the way, implicitly and unquestionable.” – Walt Disney.

The CFO of today is no longer reflects on historical data. The role of today’s CFO is rapidly changing, they must be strategic in thier thinking, solution driven and leverage best practices to be a true business leader.  The CFO in the future will be a true business partner and will compliment the CEO.

While the economic value of decisions made is very large, yet  the CFO’s greatest challenge is:

  1. Visibility: into key operational drivers.
  2. Forecasting: Ability to easily construct economic forecasts with “what if” scenarios and
  3. Bridging Organizational Silos: Readily extract meaningful information about business performance from their organizations silos, i.e., disparate financial, operational and transactional systems.

Ask This CFO – Winds of Change are Stirring…

September 15, 2009

CFO Magazine (CFO Report):

  •  “… executives are unhappy with their visibility into key operational drivers…”

*CFO’s today lack decision support tools

  • The Finance function remains saddled with Limited data access, Inefficient processes for data acquisition, and Inadequate reporting.

(*“On the Up and Up” published by Hyperion Solutions Corporation, 2004)

Starting your own Business -Managing Growth & Risk

September 5, 2009

Growing Pain:Managing Growth for SMBs,Small Business, Entrepreneurs

The greatest challenge that any organization especialltySmall Business faces is in managing growth along with the successful execution of business ideas.  In today’s hyper competitive business environment, achieving profitability is extremely critical.  As your sales volumes surge, managing the day-to-day operations can become a complicated and a time-consuming process. 

It is my experience that entrepreneurs end up performing several job functions during the course of a day.  As the business grows, they find themselves pulled in several different directions, battling one crisis after another.  The excitement and enthusiasm of managing an organization soon fades and they find themselves paralyzed by numerous issues surrounding staffing, business process management (BPM) and financial operations to name a few.

Organizations that have the ability to convert thought into action succeed while the rest languish in mediocrity.