- The Indirect Spend Blind Spot: HOW Finance Leaders Can Recapture Millions
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- Most finance leaders can recite their cost of goods sold down to the basis point. They know supplier terms, volume discounts, and margin impacts like the back of their hand. But ask about spend on waste management, cleaning, or software subscriptions, and the answer gets vague. This isn’t an oversight. It’s structural. And it’s costing companies millions annually.
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Take Assessment Watch Video- 5 Tips for Better Board Reporting
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- As a finance leader, you’re intimately familiar with your company’s data and KPIs. But guess what? Most of your board members aren’t—and they don’t want or need that level of detail. What do they want? Like your CEO, board members are searching for trusted, strategic deputies who can provide high-level, holistic insight that helps them navigate the swirling currents of today’s business world. Luckily, top finance executives have a great vantage point from which to fill this role. Here are five tips to ensure you make the most of your time at the front of the room.
- Modern business planning is now a strategic advantage
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- If you’re not thinking of planning as a strategic advantage for your business, then you’re not viewing it in the right light. Because more and more, business planning needs to be comprehensive, accurate, and insightful. The quality of your business planning is so vital that it can spell the difference between success and failure.
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
