Become business friendly approach Will you stimulate business growth and investment this year from Washington? Dean Quiambao, partner at Armanino Advisory, says there are early signs that C-Suites already have an effect on that hypothesis.
“Many CFOs have changed from “cutting, cutting, cutting” to “cutting as much as possible.” Now we need to rekindle our growth plans,” Quiambao said. More corporate taxes from Washington, more domestic energy production, and new policies, to combat unfair trade and monetary policy by other countries, namely many industries in the US, namely may benefit. The environment for software regulation from the Republican administration could also boost the US economy.
However, shifting to growth modes could involve investing in people and technology. How can CFOs do it without struggling to make profitable and giving up on profits? Quiambao has several ideas.
How are the CFO and their board adapting their strategic plans in response to the upcoming White House administration?
CFOS, the recent election and pro-business management expectations, has made it a time to accelerate its strategic plan. Many of the boards I work with are pushing for IPOs or M&A activities (a discussion of previously pending timelines). They recognize that they are likely to see a more favorable environment for business growth and investment over the next four years.
For example, when Gary Gensler resigns as an SEC chair, the regulatory landscape is [Trump nominee] Paul Atkins. It could be the best time to consider making it public.
It's not about cutting budgets anymore, but about identifying opportunities to invest in talent, technology and strategic initiatives to position the organization to take advantage of this new ro-sound 20's!
wShould a kind of strategic investment, including technology, be prioritized by CFOS to promote growth and efficiency in this economy?
It is essential to increase the workforce. Prepare your team to meet the demands of a rapidly changing business environment. At the same time, technology is linchpin to promote both growth and efficiency.
Many organizations are looking for ways to integrate AI and automation into operations. This is not about adopting technology for itself. Finding practical applications to solve a specific problem.
For example, AI can streamline iterative processes such as payable accounts, but advanced CRM tools can help deepen customer relationships and unlock additional revenue opportunities. Not only do you get these tools, but make sure they're used to their maximum potential.
I spoke with a CFO who is rethinking high-tech stacks to find a way to upgrade ERP systems, a tweak approach to automation, and how to get more ways to get from existing data. They see growth around the corner and consider whether to hire others or invest more in automation.
This dual approach of optimizing current systems and investing in new technologies ensures that organizations build a scalable and efficient growth foundation. By focusing on people and technology, organizations are setting themselves up to thrive in the coming years.
What else should CFOs rethink this year?
It's time to reassess the value that service providers bring. I've heard from some CFOs who feel that they're just another number for big companies. Initially it was attractive for a discounted price, but in the end I felt it wasn't important.
My advice is simple. Choose a partner who treats you as a priority and has the expertise to grow with your company. As one CFO told me, “Why am I working with people who don't have the time to care about myself?” That's an emotion I hear more and more. Reassessment is not about reducing costs, but also about matching relationships with strategic goals. Integrate relationships, find the right fit, and ensure that all partnerships increase their value.
How can CFOs effectively build brands? Why is it important?
My message to CFOS: If you think your work speaks for itself, think again. Personal branding is not just for sales and marketers. It's for all of us. You have a unique perspective and a wealth of experience that people want to hear. Whether you appear on a podcast, write thought leadership work, or take part in an industry event, there are countless ways to share your stories.
Many CFOs are uncomfortable with self-promotion, but let me say: The day to stay in the background is over. A strong personal brand doesn't just help you. It will help your company. It builds credibility, attracts talent and positions you as a leader in your field. So let's get out of your comfort zone and start talking about you.
The job market for CFOs is tough and competition is fierce. If you are struggling to acquire a role, you need to rethink your approach. A strong personal brand is the difference between waiting for opportunities and having them come to you.
Consider fractional CFO work if it is between roles. It will keep you involved, build your network and show you your expertise. But ultimately, branding is about positioning yourself as a thought leader. Invest in your brand and showcase your value and you stand out even in the most competitive markets.
