Today’s post is by Randy Russon, founder of TOPCFOS
Welcome to our Blog today! TOP CFOS offers the finest virtual CFO services to companies anywhere in the world who want to take their organization to the top. We absolutely love being a part of your success. We also love to be the catalyst behind your firm’s soaring profits! And, for your convenience, we provide an RSS feed down at the bottom of our website so you can subscribe to our blog. Today’s post comes from the Finance category on our website and is entitled What DO Great CFO’s Do?
First, great CFO’s offer the best financial guidance on the planet. The following phrase will always be true. A great CFO is worth his or her weight in gold. Great CFO’s point the way where a company should go to become the most profitable. And, smart CEO’s listen carefully and thoughtfully to great CFO’s. One example of this was IBM when CFO Mark Loughridge coordinated and orchestrated one of the greatest acquisition strategies ever known between 2004 and 2013. Samuel J. Palmisano was the CEO of IBM during Mr. Loughridge’s tenure as CFO. As CEO, Mr. Palmisano enabled all of this to happen. IBM made over 100 acquisitions during this time, which represents just over one acquisition per month. This was one incredible acquisition pace, a tribute to Mr. Loughridge’s talents as a CFO. Great CFO’s are also really good at producing accurate and timely financial information about the companies they serve.
Accurate and timely financial information should be one of the first and foremost items on the radar screen of a great CFO. Good CEO’s and management teams need this information to make intelligent business decisions. Investors also need this information to make informative investment decisions. The financials of any company should always be the guiding star of the business. Smart CEO’s along with the executive team will always look to the financials first before finalizing any important strategy or business decision. Finances first is always the byword, and great CFO’s know this. The next area a great CFO will focus on is the analysis and interpretation of financial information about the company they serve.
The larger the company the more there is to analyze in terms of thorough financial analysis. In fact, the CFO should put together a small team of financial analysts to do nothing but analyze the financials with one goal in mind. The goal should be to maximize shareholder value. Great CFO’s are constantly on the lookout for finding things that will lead to greater profits. This includes looking for hidden profit centers. Hidden profit centers in companies are plentiful. A great CFO knows this, and he or she will pour resources into finding them. The last area I want to talk about is planning great business strategies.
Great CFO’s take a seat at the strategy table of the firms they serve. They have a keen understanding about where the company stands financially, and can offer insights that no one else can. Plus, great CFO’s usually have an entrepreneurial mindset which enables them to see opportunities for growth that others miss. This is why great CFO’s are paid well, because of this value they bring to the table.
We hope you’ve enjoyed our Blog today. Please remember, TOP CFOS offers the finest virtual CFO services to companies anywhere in the world and would love to be a part of your team. Feel free to reach out to us anytime. Your feedback is most welcome, and we invite you to share this post with friends and associates. During the month of May, we are offering a free service to our readers. We will help you plan some great business strategies for your business here at our office or through a video conference meeting, all at no charge. Our contact information can easily be found here on our website, so give us a call today! Our next post will come from the Strategy category on our website and is entitled What is Organic Growth? And, thank you for joining us!