Today’s CFOs are expected to be leaders and influencers. CEOs, presidents, board members, and business owners look to their chief financial officers to leverage financial data and analytics for growth and success.
So, what does it take for a CFO to meet that challenge?
- Understanding and interpreting data. Data has the potential to transform an organization. Businesses are using data to enhance processes, increase operational efficiency, and drive growth. Today’s CFO must be able to capture and pull insights from that data.
- Being tech-savvy. Big data offers big opportunities. But to benefit from those opportunities, CFOs must be able to understand the technology. Tech-savvy CFOs understand technology plays a significant role in a company’s business model, strategic planning, risk mitigation, and efficiency.
- Having good interpersonal skills. Creating a team of finance and accounting professionals with the skills required to drive critical thinking, achieve business objectives, and problem-solve can sometimes be challenging, especially if the CFO lacks people skills. So, it’s not just crucial for CFOs to be skilled in data and technology; it’s also critical for them to relate, communicate, and motivate others.
Gone are the days when a CFO was merely a “numbers person” who was only called upon when a business owner wanted to know the business’s overall health. Instead, today’s CFO is an integral part of a company and its ability to succeed.
CFOs today must have the financial knowledge, practical knowledge, and people skills to create value for a company and help it grow.
If your organization is missing that person, Miami CFO can provide executive-level financial management skills to make a difference for your organization. Are you interested in learning more about our outsourced CFO services? Use this link to schedule a meeting: https://calendly.com/miami-cfo.