How do Controllers and CFOs increase their value to their organizations? It requires them to move from traditional practices and expand to business strategy, industry strategy in addition to obtaining and understanding trends that impact the business or organization. Sometimes it is not always apparent what impact a specific trend will have. The traditional practices must still be followed and implemented. However, these practices are what is expected of Controllers and CFOs today. It is similar to how quality is expected in manufacturing or service. It is also easier to replace a Controller or CFO that operates only in the traditional role. The Controller or CFO that masters each of the expanded roles in the image will not only be more valuable but will also be more difficult to replace.
HR managers and IT managers that have struggled with being excluded from strategic processes in the organization can also take heart in a similar approach. They must become business people first and then be recognized for their expertise. Rarely are they recognized for their expertise. It is in their application of their expertise as a resource or servant leader to the other parts of the organization that their true value can be recognized.
Following is a short video on my presentation on Increasing Controller / CFO value. It was delivered in Las Vegas in Nov. 2014 and the topic was Innovation and Creativity in an Organization. This clip is based on an excerpt from my new book published by the AICPA - "Controller as Business Manager." Click on the following link to read more about the book
Controller as Business Manager
Increasing Controller / CFO Value
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