- Why CFOs are Hesitant to Hire Consultants
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- Having a financial consultant pour over your company books can cause anxiety and friction. Staff get nervous when a consultant is reviewing their work. They may worry mistakes will be found, making them look bad or incompetent. Yet the reason for hiring an outside consultant is not to make anyone look bad but to uncover issues holding the company back and work with finance staff to improve its financial acumen.
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Take Assessment Watch Video- Three Pricing Issues for CFOs to Watch Out For
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- Mark Stiving shares three innovative pricing concepts in this piece that all finance leaders will benefit from.
- Grasping the Financial Situation
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- One of the first steps necessary by the CFO is to assess the financial well-being of the organization – which areas are doing well and which areas require intervention. Oftentimes, the first place to seek understanding of the financial well-being of the organization is to examine the organization’s financial statements.
Governance & Controls – structure and controls.
Transaction Recording – systems, transaction processing and closing the books.
Reporting - efficient, timely and accurate information for decision making and meeting compliance requirements.
Accounting
Business Planning - provide the financial roadmap for the company with supporting analytics.
Financial Forecasting - integrate the company’s current performance relative to budget with the real-time business environment.
Investment Analysis - the framework to analyze new opportunities as they present themselves.
Finance
Cash Management - the discipline to ensure cash is available to operate the business normally.
Funding - Planning for and raising funds to meet the needs of the business.
Risk Management – Identification and mitigation of key business risks.
Treasury
Self-Awareness - Internal.
Team Building - External.
Strategy & Culture – Motivate people to follow you.
Leadership
Four Pillars of Executive Expertise
CFO.University is built around the Four Pillars of CFO Success. These Pillars are supported with Core Competencies. Our framework allows you to master your role as a senior financial officer. The Four Pillars are made up of:
Accounting – Governance & Controls, Transaction Recording and Reporting
Finance – Business Planning, Financial Forecasting and Investment Analysis
Treasury – Cash Management, Funding (Capital Raising) and Risk Management
Leadership – Self Awareness, Team Building and Strategy & Culture
