Ascent Financial Consulting, LLC

The transformation of a business involves substantial change, which comes with inherent risks. Without a clear understanding of what is required for success, a transformation can become fragmented, leading to inefficiencies, missed opportunities, and failure to realize the intended impact. This article about business transformations summarizes our takeaways from a recent McKinsey webcast, "How to sustain transformation success." #BusinessTransformation #Innovation #FinanceLeadership #ChangeManagement #BusinessStrategy #FractionalCFO

Business transformations involve substantial change and inherent risks. Without a clear understanding of what is required for success, a transformation can become fragmented, leading to inefficiencies and missed opportunities. Our latest blog post summarizes the takeaways from a recent McKinsey webcast, "How to sustain transformation success." https://wix.to/tDnB7YI #newblogpost

The shortage of skilled accountants is a growing challenge for finance leaders. In The Wall Street Journal's CFO Journal article, "Not Enough Accountants? The CFO’s Tenure Might Get a Little Shakier," CFOs are under increasing pressure to maintain financial accuracy and compliance. At Ascent Business Consultants, LLC, your financial foundation is our priority. We believe that the strong financial foundation of a business is critical to scaling and growing in a competitive marketplace. We offer fractional controller and CFO consulting services to help strengthen your financial foundation, allowing you to focus on what you do best: Scaling and growing your company. #CFO #FinanceLeadership #FractionalCFO #FinancialManagement

Check out our blog post on the mid-tenure CFO being well-positioned to drive change and innovation within their organizations. https://wix.to/RoABZ3t

The role of the CFO transcends traditional financial oversight. Mid-tenure CFOs, with their unique blend of experience and perspective, are well-positioned to spearhead change and innovation within their organizations. #CFOLeadership #TechFinance #CFOInsights #BusinessTransformation

Reinventing Finance: How Mid-Tenure CFOs Can Drive Change and Innovation To gain further insight into the success factors of the CFO, we attended a recent McKinsey & Company webcast, "How mid-tenure CFOs shift into a higher gear." The discussion was moderated by Sean Brown (McKinsey) and included the following panelists: Ankur Agrawal (Partner, McKinsey); Christian Grube (Partner, McKinsey); and Arun Nayar (Senior Advisor to McKinsey and former CFO at Tyco International). Our key takeaways were as follows: There is a clear mid-tenure aspect of the CFO role itself. At this stage, CFOs possess a deep understanding of their role and company, enabling them to critically assess both their trajectory and the company's path, and initiate transformative changes. To support mid-tenure CFOs in shifting into higher gear, the panel identified four key priorities: 1. Reinvent the finance function and yourself: Establish internal KPIs and benchmarks to evaluate and re-imagine the finance function. 2. Collaborate with the CEO on a new strategic aspiration: Build a strong relationship with the CEO to foster trust and align with major decisions. 3. Reevaluate your team and develop future leaders: Invest in team members to enhance their capabilities and prepare for succession. 4. Expand your horizons beyond finance: Join the board of a noncompeting company to gain insights from a board's perspective. The main theme was the importance of avoiding organizational complacency and becoming drivers of change. The webcast also covered the importance of creating an environment for honest feedback from your team. Daily actions set the tone for this openness. Ultimately, the CFO must have a deep understanding of the business's key drivers, direction, and vision. Building confidence and trust with colleagues, the CEO, and the board is essential before embarking on these priorities. Establishing a firm foundation of trust and setting the right tone are paramount. At Ascent Business Consultants, LLC, your financial foundation is our priority. We believe that a strong financial foundation is critical to scaling and growing in a competitive marketplace. Our fractional controller and CFO consultants provide top-tier finance and accounting consulting services and are with you every step of the way on your journey to greater success. We help strengthen your financial foundation to allow you to focus on what you do best: Scaling and growing your company.