🔮 The future of finance leadership is here

In recent years, we’ve gone from a “growth at all costs” mindset to a mindset hyper-focused on efficiency — and with that came huge shifts in the way the CFO role has evolved. Finance is no longer siloed; in fact, there’s never been a better time for finance leaders to solidify their ability to make a huge, company-wide impact.

As organizations move from fixating on efficiency to fostering growth, there’s never been a better time to explore what the future of finance holds. That’s exactly what The CFO Show host and Vena CFO Melissa Howatson and Vena’s Director of FP&A Thomas Krolak spoke about in their keynote onstage at Excelerate Finance 2024 — in addition to covering the potential inherent to the finance function in the ever-evolving business landscape.

“Secure Your Own Mask…”

We’ve all heard it on every flight: “Secure your own mask before helping others.” 

The same goes for your finance team: Make sure that your team is functioning at 100% before you start searching for ways to impact your organization at large.

There’s a very human element to the work we do. By cultivating a high-functioning group of financial professionals, finance leaders can ensure their team can:

Move the business forward. If every member of your finance team is performing at their best, you’ll be able to adapt and respond quickly to organizational changes and deftly weave together interpersonal and interdepartmental partnerships that support business growth and efficiency.

Play to their strengths. As finance teams evolve, it’s vital to think about who you have on your team and where their strengths lie. Do you have a connected influencer? An authentic disruptor? An inquisitive storyteller? A value creator? Helping your team members step into these roles will empower them to do what they do best — apart from accounting, FP&A, or their other on-paper functions.

Remain agile. The business landscape is ever-changing, and the finance function plays a pivotal role in helping organizations adapt and respond to shifts in the market. If your team is cohesive, adaptive and well-trained, there’s not a bit of turbulence they can’t weather with ease.

Opportunities Abound

Once you put your dream team together, your ability to make organizational impact is limitless. As company leaders continue to understand the immense value finance brings to the table, you’ll start to see more opportunities to drive business goals and influence organizational objectives — rather than just responding to what other departments dictate is best.

The future of finance is bright and ever-evolving — and it was great to explore what’s next surrounded by so many brilliant professionals at Excelerate Finance 2024. To hear the entire keynote, tune into this week’s episode of The CFO Show.

In case you missed it…

It’s hard to know how many people you need on your finance and accounting team — and that’s just the beginning. From wondering when it’s time to make the next hire, or worrying you may be filling the wrong functions, there’s a lot to consider…and that means a lot at stake. Our conversation with Dani Sandler, VP of Accounting Services at Scale North, gave us many insights into the viability and benefits of a fractional partnership.

What’s next…

In today's digital age, CFOs are on the front lines of defending their companies against cyber threats targeting financial data. In this episode, Joe Oleksak, partner at Plante Moran, delves into the pressing cybersecurity risks that CFOs confront and examines proactive strategies to safeguard their organizations.