Become business friendly approach Will Washington stimulate business growth and investment this year? Dean Quiambao, a partner at Armanino Advisory, said there are early signs that executives are already acting on that hypothesis.
“Many CFOs are moving from a 'cut, cut, cut' mentality to 'we've cut as much as we can, now we need to restart our growth plans,'” Quiambao said. Lower corporate taxes, increased domestic energy production, and new Washington policies to counter unfair trade and currency policies by other countries could benefit many U.S. industries. A Republican administration's software regulatory environment could also boost the U.S. economy.
However, moving into growth mode may require investments in people and technology. How can CFOs do that without giving up hard-earned profitability gains? Quiambao has an idea.
How are CFOs and their boards adapting their strategic plans in response to the incoming White House administration?
CFOs, in the wake of recent elections and expectations for a pro-business administration, it's time to accelerate your strategic planning. Many of the boards I work with are moving forward with discussions regarding previously pending IPOs and M&A activity. They recognize that the next four years are likely to see a more favorable environment for business growth and investment.
For example, if Gary Gensler steps down as SEC Chairman, the regulatory landscape could change significantly under: [Trump nominee] Paul Atkins. If that happens, it may be the perfect time to consider going public.
It's no longer about cutting budgets. It's important to identify opportunities to invest in people, technology, and strategic initiatives to position yourself to make the most of this new turbulent decade.
WShould CFOs prioritize strategic investments, including technology, to drive growth and efficiency in this economy?
Upskilling your workforce is essential and prepares your team to meet the demands of a rapidly changing business environment. At the same time, technology is central to driving both growth and efficiency.
Many organizations are looking for ways to integrate AI and automation into their operations. This is not about adopting technology for its own sake. It's about finding practical applications to solve specific challenges.
For example, AI can streamline repetitive processes like accounts payable, and advanced CRM tools can help deepen customer relationships and unlock additional revenue opportunities. Don't just get these tools, make sure you use them to their fullest potential.
I spoke with CFOs who are rethinking their technology stacks, whether it's upgrading their ERP systems, fine-tuning their approach to automation, or finding ways to do more with existing data. They think growth is on the horizon and are considering whether to hire another person or invest more in automation.
A two-pronged approach: optimizing current systems and investing in new technology will ensure your organization has a scalable and efficient foundation for growth. By focusing on people and technology, your organization will be positioned for continued growth.
What else should CFOs reconsider this year?
It's time to reevaluate the value service providers bring. I've heard from several CFOs who feel like they're just another number in a large company, and although they were initially attracted to discounted prices, they ultimately felt like they didn't matter. I was feeling it.
My advice is simple. Choose a partner who will treat you first and has the expertise to grow with your company. One CFO told me: “Why am I working with someone who doesn't have time to care about me?” I hear more and more. Reevaluating is not about cutting costs, it's about aligning relationships with strategic goals. Strengthen relationships, find the right connections and ensure every partnership adds value.
How can CFOs effectively build their brand? Why is it important?
My message to CFOs: If you think your job speaks for itself, think again. Personal branding isn't just for salespeople and marketers, it's for all of us. You have a unique perspective and a wealth of experience that people want to hear about. There are countless ways to share your story, including appearing on podcasts, writing thought leadership articles, and attending industry events.
Many CFOs are uncomfortable with self-promotion, but let me tell you this: The days of staying behind the scenes are over. A strong personal brand will not only help you; It will help your company. It builds credibility, attracts talent, and establishes you as a leader in your field. So step out of your comfort zone and start telling your story.
The CFO job market is tough and competition is fierce. If you're struggling to land a role, you may need to rethink your approach. A strong personal brand is the difference between waiting for an opportunity and having an opportunity come your way.
If you're in between roles, consider a partial CFO job. It will keep you interested, build your network, and showcase your expertise. But ultimately, branding is about positioning yourself as a thought leader. Investing in your brand and demonstrating your values can help you stand out in even the most competitive markets.
