Until recently, the role of CFO was limited to managing the company’s financial health, while being limited to keeping the accounts. However, with modern technology, we can see that this role has changed massively.
While the same can be said about practically all job positions and all industries, this one is a great example of how a certain position can change completely due to the impact.
The responsibilities of a CFO are now much more numerous than they have ever been. Today, we can see that it is much more leadership-centric than ever before. Furthermore, even recruiting a CFO involves technology.
If you want to learn more about this, you can find more at FD Capital. Today, we want to talk about what makes a great CFO. Without further ado, let us begin.
Strategic Vision and Planning
The most important CFO trait is having the ability to predict the future trends. By doing so, the CFO will have the opportunity to create a strategy that will conduct the proper way of growth in the future.
We can all agree that doing so is quite challenging, especially with the ever-changing market conditions. These trends usually do not last long before they are replaced with a completely different one.
Strategic vision and planning become even more important during hard times. From time to time, markets crash. Therefore, finding a way to secure the future of the company while not sacrificing any important financial deals is a work of art.
That is why treating these as an artist in this day and age is quite widespread. Of course, we are talking about competent individuals who take their jobs seriously.
Guarding the Financial Health
As we’ve mentioned, the importance of a competent CFO becomes even more important during hard times. Facing uncertainty and market volatility is not a good outcome for any company, regardless of its size and expertise.
So, someone having to take the role of a financial guardian becomes quite important. Of course, the CFO is the role that takes on this task and tries to resolve it in the best possible way for the company.
We can see that this is especially true in the industries where volatility is an everyday occurrence. If you conduct the research, you will find that the number of these markets is not small.
That is why having someone to take care of pressing matters when needed is one of the most important things every company should pay attention to.
Sure, it may seem like unnecessary at first, but the more time passes, the more the importance of a quality CFO will become more recognizable.
Looking for the right traits in a candidate is the first thing every interviewer should do, regardless of the position.
In this insight of ours, we’ve focused on the role of the Chief Financial Officer. We are certain you will find this insight to be of great help in the future as you strive to make your company more financially secure.