Showing posts with label CFO. Show all posts
In 1944, Winston Churchill said, “A love of tradition has never weakened a nation, indeed it has strengthened nations in their hour of peril…” But he didn’t stop there. Churchill very aptly concluded, “…but the new view must come, the world must roll forward.It’s long been discussed that there are a variety of personas that many CFOs carry. In fact, a recent survey of 1,500 financial experts determined that CFOs fall into six distinct categories: politicians (27%), revolutionaries (19%), carers (19%), conductors (16%), traditionalists (9%), and visionaries (9%).
As the CFO or Director of Finance, cash should be the most basic and regularly reported balance to your stakeholders—arming them to make decisions for change, or to stay the course. And, about cash, what do you know? Specifically, collections, and cash burn?
“So, what are your thoughts on where we should invest?”. Questions like that, if unprepared for, can make a CFO’s face flush and heart rate rise. Yet inquiries like that are exactly where a CEO will expect insight from the organization’s CFO.
In my last blog post, I covered the importance of performing analysis within the system of record and how increased visibility can help unlock insights to better manage your multi-entity business. In this blog post I will focus on the importance of controls and user permissions in a growing business.