What Are Smart CFOs?
The Evolution of the Role of CFOs through technology.
A Chief Financial Officer (CFO) holds a very important position in an organization that helps keep the organization’s finances in check by learning its strengths and weaknesses as compared to years of research and market trends.
Historically, a CFO’s major tasks were limited to accruing and managing accounts as well as documenting finances.
But, in recent years, professionals holding this position as well as companies providing CFO Services have seen a big change in the valuable services that it can provide to an organization. Most of this is a direct benefit of the developing technology around us that makes things easier and works in ways to avoid financial risks at your workspace.
In fact, companies are now actively appointing Chief Financial Officers towards becoming board members due to the prominent position that they hold in an organization. The are both risks and benefits to a CFO sitting on their own board, but the benefits any day outweigh the risks. Some of them are:
- Enhancement in the CFO’s purpose and vision.
- Interesting insights for the board to help make better decisions.
- Valuable feedback towards improving the financial standing of the company.
What are smart CFOs?
“Smart CFOs” is a term coined for individuals and companies that use technology to enhance the output of every project that a CFO may work on.
Technology does not only help CFOs be more precise and efficient, but it also helps them save time to shift their focus from micro-projects to strategic thinking that may overall benefit their organization.
As an Auditing and Accounting Firm in Abu Dhabi, we choose to embrace digitalization to not just increase our efficiency and data visibility but also provide you with the best and most practical real-world services.
Smart CFOs can offer you a new level of intelligence that was not possible earlier without technology. Here are some benefits that you can obtain with the help of Smart CFOs:
- Free up time for employees
- Be more efficient
- Automate mundane /repetitive tasks
What makes a good CFO in 2022?
As you may have noticed, the “job description” of a CFO / CFO Service Providing Agency has changed over time— so a good CFO is one that can rise up to all the new challenges that may arise during his /her career. Apart from having high-level financial and operational experience, a good CFO must also be a strategic thinker, solution provider, and go-getter!
If you’re looking for CFO services that use advanced technology for high efficiency and task management, click here to get started.