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One of the most talked-about trends related to finance over the past three years has been the changing role of the CFO. But it's not just changing. It's expanding. Deloitte calls this phenomenon “exponential” CFOs, suggesting not just expansion but rapid expansion. According to Deloitte, an exponential CFO has three goals. It's about accelerating value creation, driving operational excellence across the company, and shaping people and culture. This is a much wider range than what is prescribed in financial textbooks. But does the exponential framework match reality, and how do technologies like GenAI need to mature to give CFOs more…
While the hype surrounding GenAI's promise is loud and contagious, Richard Kerr believes CEOs should take lessons from the dot-com era and keep their feet on the ground when it comes to new technology. As the founder of MarketScout, one of the insurance industry's first pure business dot coms, Kerr remembers the madness of the fin de siècle. “We had 322 participants from the beginning,” he says. “There was a euphoria going on, just like with AI today. But of the 322 companies that were founded then, only two remain today.” MarketScout was one of the few success stories. In…
“There is still a need for employees to occasionally collaborate in a physical space, but the direction is unambiguous at this time. CFOs have a clear vision and create processes and procedures for hybrid work.” says Britton. Finance executives have made great strides in managing fully remote or hybrid teams. However, flexible work models are still relatively new, so CFOs need to set clear expectations for remote workers, keep remote employees engaged, provide opportunities for direct interaction with remote and hybrid colleagues, and for compliance purposes. We're making tweaks in areas like remote worker tracking. . thrive on interaction At…
As hybrid work becomes more normalized and business travel and international assignments return, the workforce is more geographically dispersed than ever before. A survey of 1,800 knowledge workers found that nearly 60% are working further away from the office than before 2020. Furthermore, 91% of employees agreed that they “should be able to work wherever they want as long as it gets the job done.” Work location flexibility has become so mainstream that people are willing to leave jobs that don't offer it. When respondents were asked what caused them to leave their previous employer or leave their current employer,…
The ability to tell a story was embodied in a list of required CFO skills specifications several years ago. After all, CFOs often communicate important information that their audience needs to hear, understand, and often act on. Compelling storytelling can accomplish all three. “Inherently, people are much more story-driven than they are information-driven,” Sam Kemp, chief financial officer at Bilt Technologies, told StrategicCFO360 last August. “Presenting clear logic to people is not the way to get them excited about your strategy or operating model or to get them to follow your ideas.” Prominent CFOs are acutely aware of the value…
When Carla Trotman took over the reins of Electro Soft, a family-owned contract electronics manufacturing company, she had already worked there long enough to change the style of clothing in Montgomeryville, Pennsylvania from “lifestyle.” , I knew some things had to change. Transform your business into a growth engine. The three most important things she came up with to take advantage of today's reshoring phenomenon and scale her company are: Revolutionize the sales process by leveraging the Internet and e-commerce. and promote the benefits of manufacturing employment, particularly at Electrosoft. “We changed the entire structure of the company and are…
Ask most CEOs about this word heritageAnd perhaps their responses will reflect the lasting mark they hope to leave on the organization. But legacy says much more than the contributions of any one leader, regardless of the length of their tenure. When everyone at every level, from the new hire to the CEO, embraces, embodies and expresses a shared mission and values, we can have a broader impact. The importance of living your values and giving to others was part of my upbringing, but in the business world I learned a lot from William, who served as chairman and CEO…
In this episode, Scarlett O’Sullivan, CFO of Leaf Home, joins Jack McCullough to discuss her journey from investment banking to becoming a leading CFO in the home improvement industry. O’Sullivan shares insights into her role at Leaf Home, strategies for navigating volatile markets and the importance of strong leadership and innovation in driving company growth. Listen in as they explore the challenges and rewards of scaling a high-growth company and the vital relationships that support successful financial leadership. — Listen to the podcast here Introduction To Scarlett O’Sullivan And Leaf Home We have a great CFO whom I’ve been looking…
Startup executives often wear multiple hats and juggle a myriad of responsibilities. Josh Epstein is not typical. He manages both the finance and revenue generation functions at Coder, a startup based in Austin, Texas that provides cloud development environments and open source tools. Coder raised $35 million in Series B2 funding in June, but like most ventures, spending needs to be closely monitored. As CFO and chief revenue officer, Mr. Epstein has certain advantages. It is important that an organization's capital deployment choices include not only new customers but also new customers. right customer. We spoke with Epstein about how…
Tensions arise whenever negotiations take place. This is not surprising. Sitting down to negotiate or participate in mediation is like preparing to throw a punch or defend. To become a better negotiator, it's important not to try to avoid tension. Tension teaches us. But first you need to know that you have to feel the tension and respond calmly and strategically. As a result of my work as a negotiator over the past 40 years, I have come to study negotiation tension and break it down into seven distinct components. By recognizing the seven tensions, knowing when to expect them,…