I can safely say that, so far, 2017 has been anything but dull. With a new administration in place, our clients and you as well, are likely watching the political and business drama unfold and wondering what effect it will have on your business and how to plan for growth in the future.
There is no doubt that this year will be a tipping point for CFOs—especially those within mid-sized organizations. Seismic moves in technology are driving new automated solutions and processes. This means data is coming at you even quicker. And the regulatory and tax environment appears to be transforming with proposed changes to Dodd-Frank and Obamacare being discussed. Others are sure to come. How do you plan in this environment? And how do you mitigate the rising risk of cybercrime? In this digital age, every organization—regardless of size—needs to protect themselves.
Over the coming weeks, we will be addressing five key challenges CFOs will face in 2017. We will explore the opportunities for growth that these bring and provide some clarity to help you successfully navigate this year.
Here’s an overview of what we’ll discuss in this series:
- Changing Role of CFO
Over the years, the focus has changed for our CFO clients—moving away from just being concerned about the numbers and tracking historical information to now becoming more of an integral part of the business—focused on strategic planning and identifying growth opportunities.
- Enhancing Shareholder Value by Optimizing Working Capital
With the advances in technology and tools, CFOs are finding new ways to streamline cash flow and uncover cost reductions. They are improving processes, speeding the budgeting process and have more insights and analytics at their disposal – all this improved decision making and creates operational efficiencies, reduced costs and increased cash flow.
- Gathering and Leveraging Big Data
CFOs are learning to unleash the power of data—using it to uncover trends or to pinpoint issues. The challenge for CFOs is to change their mindset that it’s not just about numbers but it is using the analytics and knowing what data is going to help and be most actionable.
- Protecting Against Cyber Threats
Today’s CFOs must acknowledge the growing cyber risks and understand that attacks are no longer aimed at only stealing customer data but could also halt business operations, steal trade secrets, destroy a brand and even shut down the company. We will also address managing the regulations and requirements of securing the organization.
- Managing Changes in Tax
There will certainly be new changes to tax regulations in the coming years—likely less regulations in this new administration. We will help you foresee what’s ahead to prepare for 2018 and beyond and help you capitalize on the changes.
I welcome your questions and comments to this series and hope that it leads you to a very prosperous 2017!
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