CFO emergence as Chief Future Officer
Sanjay Banka
CFO++ | IPO Expert ( Led 2 successful IPOs & mentoring 3rd one ) | Investor Relations | Independent Director | Strategist | Pvt Equity | M&A | Growth Catalyst I Ex Hutchison- Reliance- Tata- Airtel- Landmark |
CFOs across industry, being at the centre of business are acting as catalyst and partnering with CIOs and Board in implementation of Enterprise Wide Digital Strategy (EWDS) across all spectrum of business to drive strategic edge over competitors as Chief Future Officer.
A well-crafted strategy should encourage innovation and integrate the entire value chain, both internal and external stakeholders with the overall aim of delivering and creating value for the customers, employees and stakeholders.
The various customer centric and business centric digital strategy include e-commerce, m-commerce, e-procurement, online product catalogues, e auctions, vendor registrations, store locator and so on. Similarly links to social media sites like Facebook and Twitter are quite common.
Digital strategy drives value in businesses in four ways: enhanced connectivity and customer satisfaction, automation of manual tasks, improved decision making, and product or service innovation.
Successful implementation of digital strategy definitely needs relentless sponsorship of executive management and CXOs with a shared vision. It is important to select a technology partner who can deliver right technology and software in line with the business needs. At the same time it requires an implementation partner to successfully implement the strategy
The CFO as the Chief Future Officer with his/her enterprise-wide perspective is better placed to play an instrumental role in pushing the digital agenda by determining the rationale for change, prioritise initiatives, and drives them through successfully.
Head Product Management - OSS
10 å¹´That's a good pitch to please a CFO! But most arnt capable of looking beyond their current years P&L or doing a budgeting exercise. yhe problem is they have started getting under the hood to understand technology rather than its futuristic adaptation. So either too old fashioned and closed to transformational changes or a NewAge MBA without any financial depth :(
CFO++ | IPO Expert ( Led 2 successful IPOs & mentoring 3rd one ) | Investor Relations | Independent Director | Strategist | Pvt Equity | M&A | Growth Catalyst I Ex Hutchison- Reliance- Tata- Airtel- Landmark |
10 å¹´CFOs use past data to not only forecast the future, but act as Navigator to steer the orgnisation to the chartered trajectory. It is other thing as to who takes credit, but the fact remains that Board realises the role of CFO.
Corporate Reporting at Atlantic, Gulf & Pacific Company, Inc.
10 å¹´I strongly believe that a CFO would play a bigger role strategizing the roadmap of a business. the last decade has shown both CFO's and CIo's coming out of the closet and involving themselves in the broad spectrum of the business . The emergence of e plat forms has helped the CIO's to step in the arena and the CFO's have been helped by the fact that they always have a birds eye view of the business. Sanjay is right that we CFO's need to capitalize on this and spear head change initiatives which have far reaching impact. I think the only thing needed is to shed of the cloak of conservatism and take bold steps like a business head
very relevant and powerful thought...can't agree more with Sanjay
Investment Banking / Growth Advisory / Mgt Consulting / SME IPO
10 å¹´We all cfo's have been doing it in bits and pieces. Structuring the deliverables of i t initiatives will draw great benefits