As professionals we have the constant challenge of keeping up with an ever- changing world .
What, with Virtual Reality being the next cataclysmic breakthrough what can we expect next? In the future will we be able to meet in a virtual world having a full three-dimensional meeting whilst lying in our bed at home?
And what about 3-D printing?
The mind boggles!
The big question is what will the world look like in 5 years and are we preparing ourselves to meet its challenges?
I recently read a very interesting article which discussed the CEO’s view of their financial executives. A number expressed disappointment, claiming that too much emphasis is placed on historical financial information and compliance and not enough on predictive analysis and strategy.
They put forward what might be expected of the CFO going forward.
This emerging officer was termed the Renaissance CFO.
Quite profound in relation to a role of a CFO. It seems as though the CFO has got lost in all the detail whilst missing the bigger business picture.
But read on.
It is sort of saying that the role of the CFO needs some sort of energy injection – a revitalization.
So here is what the Renaissance CFO will need to look like:
> Global experience and mind-set
> Understanding the importance of data and being creative around getting it and using it.
> Searching for the right people (talent) and mentoring and nurturing them and retaining them.
Taking this all into account, the CFO will be the one serving the “C” team with accurate and detailed predictive and analytical financial information (the “C” team being the CEO, COO, CIO and CMO).
Furthermore he will play the very important role of tempering the excitement and one-sided emotional views that emerge on bigger deals and strategies , maintaining an impartial but solid assessment of the facts.
In short, gone are the days where financial directors simply produce the numbers on time and keep the bankers and auditors happy.
The CFO of the future is being called out to be so much more – deputy CEO maybe a better title?