Management Of Stakeholders

CFO increasingly needs to be a perfect partner for CEO.

On the one hand, when making strategic decisions, CFO should strongly support CEO; on the other hand, it must also manage and control the financial affairs of enterprises.

CFO must fulfill the traditional duties of the "gatekeeper" of the enterprise, and warn in time when the investment strategy, business decision of the enterprise is wrong, or shortsightedness and damage to the long-term interests of shareholders.

The future financial leaders must cooperate with CEO and perform their financial management functions independently. We must handle the balance between them.

The relationship with the whole management team is becoming more and more important.

The expansion of financial function in the enterprise means that the finance must maintain good relationship with other departments of the enterprise.

A typical example: the purchasing department needs capital, but the financial department must clarify the demand for funds.

Therefore, the financial department should be more involved in supply chain management, contract negotiation with suppliers, and through integration of suppliers to get more discounts.

Future CFO must also be good at

He is good at dealing with all kinds of "face" about enterprises.

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In fact, in many cases, CFO is the "face" of corporate brand.

In the past, they had to deal with investors, and their circle of business relations will also expand from previous banks, tax departments, external audits, etc. to customers, suppliers, supply chain partners and so on.

They must learn to use various new media channels.

In the future, the role of CFO in the determination of enterprise strategy will be further strengthened.

The future business environment is more complex, which requires more professional analysis skills in CFO and financial functions.

Finally, the implementation of enterprise strategy.

In the future, we will pay more attention to developing more efficient business processes, tools and methods, such as scorecard, key performance indicators, external market index, etc., to support the operation of enterprises and measure the effectiveness of business operations.

CFO plays an important role in the formulation, validation and implementation of enterprise strategy, which brings another important problem: the linkage between enterprise strategy and financial and risk management (such as budgeting, forecasting, risk management, etc.) is strengthened.

Under normal circumstances, the financial and budgeting process of enterprises often does not relate to or disjointed with the current business situation.

In the future, CFO must also push ahead with enterprise reform, and integrate the financial functions of enterprises with the strategy of enterprises more efficiently.

Here is a broader sense of the integration of financial functions.

At the round table conference, many CFO mentioned a key problem: enterprises often focus too much on short-term cost cutting (such as layoffs), which damages long-term strategic planning and wastes much time in activities that are not conducive to improving the long-term strategic efficiency of enterprises.

This means that the new balance adjustment must be carried out.