BlogsThis is the CFO of the Future
August 3, 2016, by Ryan Miller
We’ve all heard it by now: CFOs of the future are going to be a different breed. The days when number-crunching and ledger-balancing were enough to meet company needs and ensure job security have come and gone. The CFO of the future will possess a flexible and multi-prong skillset that can be employed in diverse settings and at a moment’s notice. If you find yourself in this group, these are the skills being required of you:
Knowledge Guru: Working in the corporate world requires savvy and educated thinkers. CFOs must navigate the social, business and political environment with tact and precision.
Data Driven, Analytics Communicator: Data has become the very lifeblood of the business world. CFOs will become nimble interpreters and implementers of the varied data streams and analytics or else fade into irrelevance. A solid understanding of business finance is paramount.
Relationship Driver: CFOs must strike a balance between being numbers driven and people driven. They must possess exceptional people skills, manage conflicts, and inspire creative solutions to thorny problems. They must also invest in making connections with financial institutions outside of the company.
People-Oriented Leader: The CFO of the future must be cognizant of the talent within the organization and offer avenues for growth and autonomous thinking. Great CFOs know they are only as good as the team that supports them. They will need to surround themselves with a talented team that understands current business contexts.
Financial Forecaster: As a CFO, one must be able to look not just at today, but years into the future. The CFO of the future must assess business contexts and market trends, rely on the data available to them, and be prepared to act on that information. Ability to measure the probable risk and value in order to protect or grow the company is key to success.
Technologically Savvy: There’s no looking back to simpler, less connected times. CFOs must develop the fluency of tech natives—even if they come from prior generations. Effortless migrating from a variety of software platforms, devices, and operating systems with an intuitive grasp of how technology works is essential.
Included in these skills is the task of assessing the financial implications of your firm’s employee benefits offering. What options offer the best value and do they meet regulations—these are common questions CFOs must consider.
To learn more about ways in which Centennial supports CFOs, please contact Ryan Miller at (714) 740-1111 ex 274 or firstname.lastname@example.org.