3. Break out of your silo
Finance is traditionally stuck in numbers and figures, validating and reconciling information. Business, sales and marketing remain distant, separate islands for many CFOs and their teams. An increasing number of CFOs are taking on more strategic roles, but it’s a difficult exercise for them to break out of their silos. Meanwhile, they are often expected to predict the future.
CFOs should work together with CEOs, CIOs and other department heads to pinpoint opportunities for growth – based on the data and thus insights. Of course, they’ll still be taking care of reports and analysis, but on a different scale. That does require a mindset shift, though. CFOs should therefore expand their horizons and strengthen their teams with people that combine a nose for finance with good soft skills and an interest in technology.