CFOs will likely place greater demands on controllers in the post-pandemic economy and listed seven opportunities that controllers can seize to extend the value they provide to CFOs and to the business.: By Stepping Up, Controllers Can Keep Pace With New Demands – CFO Journal. – WSJ
Here is how Celemi business simulations can help:
Driving Information and Data Governance and Systems Initiatives
Finance, including the controllership function, is central to the flow of financial information in a company and to identifying trends and developing insights from a vast number of data points. While controllers have historically been responsible for overseeing data governance over financial reporting information, they may also be well positioned to oversee the integrity of the financial and driver data used to develop business metrics. Apples & Oranges – digital and face-2-face – Celemi is a business simulations that gives the participants an understanding of the basic finance language and how a company works.
Enhancing Resiliency and Risk Management
The pandemic has made clear that resiliency—the ability to bounce back after an adverse event—is as important as risk management. For example, if the supply chain for a critical semi-conductor part in a company’s automobile production is disrupted, how quickly can it adapt to—and overcome—the constraint? Learn about how to optimize inventory levels while managing customer satisfaction and profit with PartnerStock – Celemi.
Developing Finance Talent
Finance transformation has only further driven the need to reimagine talent and demand new skills and career paths for high-performing staff.
- Controllers should develop a future-oriented agile mindset.
CFOs typically want one truth about the past and greater support managing through uncertainty. This requires controllers to provide that truth about the past, as well as insight into the likely drivers and ranges of future outcomes. Such insights may require embracing “agile” approaches to program execution, and even to budgeting and capital allocation. In such approaches, change efforts may be broken down into short sprints, and based on the outcome of each, there may be significant course-corrections. Create an agile mindset with CELEMI Agile Move™ – Virtual Classroom – Celemi
- Controllers should build transformation muscles
Most likely, this will require reallocating more of their time to their roles as catalysts and strategists, as opposed to acting as stewards and operators. It also means building up hybrid “agile” project management capabilities, change-management skills, and disciplines to reduce execution risks. Celemi Synchronicity
Read more here: CFO Signals™: Q1 2020 Capital Spending Pullback Expected—Even Before Coronavirus Spread and Markets Fell | Deloitte US