Role of CFO

The CFO’s scope responsibility has evolved from bean counter and oversight to the “strategic advisor”, as accounting itself evolves from collecting, validating and reporting data to providing and supporting analysis for decision making.

both financial and non-financial key performance indicators, e.g. churn rate of telecom companies.

An exterme case is Amazon on now they use predictable analysis by using algorithms bsaed on customer shopping patterns, ratings to suggest to customers items they would likely be interested.

Also, at the operational level, Amazon uses weather climate models for more efficient shipping.

But need a team to start asking intelligent questions.

It’s progressive for the accounting function to provide marketing and sales with a reliable and accurate picture of which custoems are more profitable and which are less profitable.

 

About the Author Stephanie

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