The Ledger
Curated content foranalytical business leaders
Nine Key Traits from CFOs at Efficient Growth Companies
A recent Gartner survey of CFOs have identified nine traits CFOs should implement for better performance during a crisis including fighting scope creep, protecting costs that support competitive advantages, and using a mix of budget models to identify the activities that truly deliver value.
Digital transformation programs need the right talent to success
“Success [for digital transformation programs] requires bringing together and coordinating a far greater range of effort than most leaders appreciate. A poor showing in any one of four inter-related domains — technology, data, process, or organizational change capability — can scuttle an otherwise well-conceived transformation. The really important stuff, from creating and communicating a compelling vision, to crafting a plan and adjusting it on the fly, to slogging through the details, is all about people.”
Your plans useless but you’re still planning
“Planning in such highly uncertain times must focus on the ability to quickly and flexibly react to fast changing circumstances. Doing so effectively, requires that the company has thoroughly mapped its supply chain, including the physical locations of its suppliers’ plants and warehouses, so it can quickly identify which of its products might be affected by a shutdown at any of the suppliers’ locations.”
COVID-19 Affects on Manufacturers
“We learned that some manufacturers wish they had put more thought and effort into the digital transformation prior to the COVID-19 pandemic. But many of these companies have since adapted and are now adding new digital technologies and digitally enabled solutions as opportunities arise. The ability to readily share and analyze operations and supply chain data remotely, for example, has been critical in some industries, since those data and analyses can now be used to enable collaboration and help make the best data-based production and supply chain decisions quickly, even in real time. Most companies, even those with solid contingency plans in place, are operating and making changes and policy updates daily on the fly.”