According to Gary McGaghey, successful CFOs should possess finance skills to execute various duties. However, other talents are required to offer future top-notch services. CFOs have the opportunity to pave new paths for company innovation and set the foundation for future expansion.
From a worker’s perspective, CFOs needed to focus on the challenges of a tough economy, new working patterns, and changing employee expectations in 2021. After understanding that employees demand more value from their jobs, financial managers joined forces with CHROs to demonstrate value to workers, preventing potential economic loss. Gary McGaghey highlights that modern CFO’s should focus on doing the following:
Establishing effective team members
Finding the proper team members can be complicated in private equity firms, as management constantly changes and shareholders demand quick returns.
Offering Efficient Services
CFO’s ought to have a deep knowledge of the firm’s operations and market and apply that information to give an honest perspective. Doing so will guarantee that the decisions made are of sound financial criteria.
Providing Good Leadership
Today’s CFOs must have the required leadership and communication abilities to be efficient business partners by concentrating on these areas for future planning.
About Gary McGaghey
Gary McGaghey has vast experience as the Chief Financial Officer and Group Chief Financial Officer of multinational corporations. McGaghey served as Group CFO for Williams Lea Tag, where he oversaw cost management, acquisitions and mergers, disposals, and cash budgeting for the €1.3 billion business.
Today’s CFO position requires a well-rounded, intelligent professional. It is time for modern CFOs to cultivate the attributes, skills, and knowledge necessary for success. Read More: https://gary-mcgaghey.medium.com/