Today’s CFO has evolved into more than a number-cruncher. This excellent article by Sergio Monsalve (a VC at Norwest Venture Partners) highlights some of the key areas where CFOs have become more strategic and crucial in helping startups and other companies grow more effectively.
CFOs increasing see themselves as “Business Navigators” guiding CEOs through choppy waters. The business analysis and strategy development that CFOs provide is critical in helping fast growing companies improve their costs and profitability while growing quickly. With the unique market opportunities and challenges here in San Francisco and Silicon Valley, a CFO as a Business Navagator is even more needed.
Here are a couple of great quotes from the article:
“Analyzing data has become more pertinent for the modern CFO as they guide their companies through market expansion, IPO process and overall growth. Access to real-time data has aided CFOs in becoming business navigators because they aren’t only focused on their prior experiences, but are able to forecast different scenarios in the road ahead.”
“It’s clear that for the modern CFO, the job description now includes business strategist. These company power players are expanding their traditional responsibilities and tapping the power of data analytics to forecast and make strategic decisions to fuel business success. By providing company stakeholders with a holistic view of the entire organization, the CFO takes center stage and enables the executive team and board of directors to embark on a rapid growth trajectory.”