The role of CFOs now extends beyond number crunching and encompasses working with top management in strategising and designing growth opportunities
IT’S NOT EASY TO BE A CFO, NOWADAYS. THE last few years have been particularly arduous on the most important profession after the CEO. It’s not easy to be the Tech leader in a company, either. To bring the company to terms with the latest tech breakthroughs, and keep innovations, is a task in itself.
The role of a CFOs is expanding, which at times encompasses technology, risk compliance, cyber security, digital transformation, big data and analytics, and on and on. More and more, financial executives are stepping into crucial roles, working side by side with top management in strategising and designing growth opportunities, and implementing and assessing them. Ask any CFO nowadays, and s/he will confess that as technology progresses, the number of hats a CFO wears is multifarious.
Beyond crunching figures, they have to spot profitable business opportunities, navigate complex merger & acquisition issues, besides crafting long-term management strategies, and hone their communication skills to be able to put their vision across. For this, they require a deeper understanding of strategy, and a flair for leadership and communication. Often a CFO is the second-most important person in an organisation, after the CEO. A CFO’s nod has a major bearing on future finances of a company. So, it’s with great hesitance that BW Businessworld, along with YES BANK, has put together an issue dedicated to the integrity, perspicacity and terrier-like tenacity of the best CFOs.
Even as the CFO’s role is becoming more complex, accountability is mounting. Blame it on the global financial crisis. CFOs not only have to keep an eagle’s eye on potential risks but also to balance the job of capital allocation along with coming up with a strategic vision for the top honchos.
Denne historien er fra May 12, 2018-utgaven av Businessworld.
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Denne historien er fra May 12, 2018-utgaven av Businessworld.
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