While we sit back and ponder, what a crazy time recent slow-down was, it would be unwise to ignore the ‘good’ it taught us. The 2010 Global CFO study, conducted by IBM brings together all good and bad, the recession brought in for us.

I personally believe that times of commotion brings along opportunities for positive transformation. And, now having witnessed the new financial trend, I certainly feel that my belief is true. The recent global economic gloom has been an important event for CFO’s around the globe. The situation put CFOs’ & financial organisations in the spotlight, asking for urgent solutions- capital acquisition, cash flow and revenue challenges.

IBM’s CFO study based on the inputs from more than 1900 CFO’s and Finance leaders from across the globe, highlights the change/additional responsibility that down-turn brought for the CFOs. While, financial responsibilities still form the core of any finance leader; his focus on company-wide concerns cannot be ignored. Today a CFO is required to be an information repository for business care takers, helping them make right business decisions.

The recent time has brought a CFO closer to board room conversations, he must guide the enterprise in making timely, risk based decisions by providing right business-relevant information. In the coming years outsourcing model in finance will surge and help companies achieve desired ROI more quickly.

All these new dimensions to a CFO’s job profile would have never flourished had the recession not hit. The situation may have temporarily put brakes on the economy but has certainly paved way for building a robust financial
structure.

I would like to know  from my peers what they feel are the key takeaways from this study. For those who have not received the study yet, you can go to www.ibm.com/in/cfostudy for your very own copy. Please write back on this forum and let me know your thoughts and we can create meaningful discussion based on the insights that we have collectively gleaned from a study like this.

Sources/References: www.ibm.com/in/cfostudy

Disclaimer

The views and opinions mentioned in this blog are strictly my own and in no way reflect those of IBM or any other corporation or individual in any manner