In the traditional sense, Finance is about accounting, financial reporting, bookkeeping and tax returns. Finance has become extremely dynamic over the past three decades. Finance, IT and Operations are substantially more integrated driven by transparency, disclosure and corporate governance. Decisions are driven by internal and external information. External information changes constantly at a rapid pace. These changes need to be fluidly integrated with internal information.
The Finance function has moved from boring “working with history” to becoming the dynamic “right hand” or “Wing Man” supporting the C-Suite, the board of directors and operational efficiency. That requires a team that can adapt and change on the fly, that can integrate, de-integrate and re-integrate all the financial building blocks required for supporting the organization successfully. It’s putting the Rubic’s Cube back into its perfect state in the shortest possible time.
Finance is not the main champion in the business. Finance provides a mission-critical role in supporting the business and organization. As organizations have evolved so have the role of the CFO. It’s someone that has to have the ability to understand how data flows and how it impacts decision-making and the numbers. The “New Generation” CFO is a Conductor that ensures finance is delivering top performance. For that to succeed the CFO has to have deep and varied experience across the spectrum of finance. That’s me giving my depth and breadth in finance combined with diversity, continued education and learning. Finance is not just about accounting. It’s that, but also blended with Corporate Finance, Investor Relations, Financial Modeling, having an affinity for Regulations and Laws, trade- and supply agreements, taxation planning, GAAP & Disclosure, procurement and production efficiency, Sales, Rapid Enterprise Development combined with Operational Strategy (the flight plan). The CFO is the board’s most trusted advisor. To succeed is to be ahead by a century.