The Ledger
Curated content foranalytical business leaders
Risk Strategy for CFOs in a COVID-19 World
July 7, 2020
CFOs are continually evaluating their risk exposure as unpredictable becomes the new normal. A recent survey from Euler Hermes exposed that 90+% of CFOs predict that the risk strategy in their organizations will change, with significant challenges in managing cash flow. “Many CFOs have a gap in their financial analysis when it comes to customer and customer behavior, particularly at such an unpredictable time as now.”
Productive Relationships are Key to CFO Success
July 3, 2020
With business disruptions mounting and the COVID-19 crisis continuing to impact companies, CFOs should hone their leadership skills in three areas. According to a recent publication from The Wharton School of Business – “As leadership advisors to C-suite executives, boards, and investors, we have found that successful leaders do three things well: They have the right Priorities, the right people (Who), and the right Relationships to achieve results.” The study identifies which two CFOs tend to do well, and which one falls short.
McKinsey: Data Governance is Critical to Capturing Value Through Analytics
June 10, 2020
“Without quality-assuring governance, companies not only miss out on data-driven opportunities; they waste resources. Data processing and cleanup can consume more than half of an analytics team’s time, including that of highly paid data scientists, which limits scalability and frustrates employees. Indeed, the productivity of employees across the organization can suffer: respondents to our 2019 Global Data Transformation Survey reported that an average of 30 percent of their total enterprise time was spent on non-value-added tasks because of poor data quality and availability.”
Employ Strategies to Turn Around Business Performance
June 10, 2020
“Explore strategic options under a “no-constraint rule”. Many finance business partners were not able to get the best ideas out of their key internal stakeholders because many gave strategic options vis-à-vis the resources the business had. Suggestions for turning around the operations become constrained by the resources these stakeholders thought they had or could deploy at their disposal. It’s important to encourage key stakeholders to “free their mind” and consider the turnaround strategy as if there were no resource constraints. This encourages them to think beyond the company’s financial position at that moment.” C.F. Wong, ACMA, CGMA
