As I’ve written before, the job of CFO has changed and continues to change. We’re not just the numbers people anymore. We have to turn numbers and data into actionable information.
We can’t be the CF nO. We have to find a way to make things happen and face the challenges of limited resources (cash and people).
CFO’s have to focus on all parts of the P&L. We have to be comfortable working with the revenue side of the business. We have to get to know the revenue generators and propose business models to drive new business and margin.
CEO’s are looking for CFO’s to take on a more significant strategic role to help the organization grow and improve its performance. See The Future Of The CFO from Forbes.
Further, many CEO’s see the most important way for CFO’s to impact a company positively is to improve their people and management skills. I’ve written about the talent shortage. It’s coming and CFO’s are as responsible as anyone to identify and retain good talent. Many organizations could benefit from a CFO getting out of their office and immersing themselves in the management of their teams as well as in the operations of the company.
And besides, these things (strategy, management, participating in growth) are a lot more fun for CFO’s. Many of us are in this role for the variety and challenge we can experience in helping grow and build a business.