The CFO Today
Few will quibble with the notion that the finance group manages the lifeblood of the organization. While other departments manage an organization’s ability to market, produce, and deliver, finance connects them all towards future growth and away from door-closing disaster.
The CFO leads the financial team in a company. Increasingly, the weight on his or her shoulders can be immense as leading the group requires making strategic calls on everything from financial processes and systems to top-level strategic growth decisions, to day-to-day transactions.
Having someone that’s experienced in the role is critical. Knowing where the potholes lie in the road ahead can be the difference between goals met, goals missed, or a company in serious jeopardy.
The pressures of the job jump tenfold when the company has been acquired and is running full-steam-ahead into the first 100 days after the transaction has closed. Now, in addition to all of the regular needs of the department, the CFO has to lead the company through integrations including financial platforms, reporting, staff, processes, and policies. And he has to do all that while hitting the ground running and very quickly making the right calls. While other CFOs may be traveling down the road at 55mph and seeing the potholes, the transitional CFO needs to see them coming at 155mph.
While there are numerous requirements for the transitional CFO role, we like breaking them down into the following:
- Experience – Knowing what could be coming down the road.
- Skill – While knowing when a hazard is coming up, the transitional CFO has to have the management skills to drive the organizational change required to dodge risk and race towards success.
- Breadth – Today’s transitional CFO could be walking into a chaos of technologies and platforms that need to be either worked with or replaced. While the CFO doesn’t need to be a CIO, the more she knows in that realm, the more she can control the department, and the company’s destiny.
- Motivator – A company in transition is a company filled with employees filled with uncertainty. The CFO has to motivate people amid that uncertainty to deliver.
- Negotiator – The CFO has to drive powerful collaboration across teams and departments. Being able to negotiate and drive agreements is of upmost importance.
Finding that CFO can be extremely difficult. Especially when time is on the line.
We can help.
Click here to find out how Element78 can make sure your CFO is the right CFO.