CXO Outlook®’s Post

Great article below for Accounting/Finance Leaders who are looking at options outside their organization to combat Talent Shortages and Hiring Freezes or if you are Experiencing Growth, Launching Short/Long Term Initiatives, or have Projects approaching in 2024. The article highlights some of the Pros to outsourcing to a company like mine. 1) Increased Cost Savings 2) Access to Expert Advisors 3) Greater Flexibility 4) Ability to Prioritize Core Functions 5) Access to Advanced Technology and Tools I sit in Pittsburgh and handle Central/Western PA but my company, Aston Carter, is a Nationwide Workforce Solutions company with over 200+ Global Offices that is able to navigate your needs and partner together to solve your issues. Feel free to reach out out to me directly if you are interested in a chat. Paul Weatherly Robert Gruss Jr. Brianna Bamba Bobby Peterson Brian McGinness Lyndsey Miller #accountingandfinance #outsourcedaccounting #outsourcedservices

https://lnkd.in/eu7D7qAc THE NEED OF CFOs FOR BEING STRATEGIC BUILDERS. The CFO's responsibilities have expanded significantly with the advent of new technologies and the dynamics portfolio companies of the private equity firms, from overseeing accounting and finance and maintaining organizational stability to including a broad strategic role as the CEO's vital ally in driving growth initiatives and making swift adjustments to adjust to a shifting environment. The article's several examples highlight the importance of the need for a strong strategic CFO showing how making the right decisions related to a function, as tech in this case, is influenced by a deep strategic knowledge of the overall organization regarding vision, mission, culture, business model, go-to-market, cross-functional interactions, and strategy.

The need is real. Don't just take our word (we're a little biased ;-). Heidrick & Struggles Business Talent Group has done the research. CFO on-demand is a smart solution for a significant problem in today's business world - there is not enough accounting and finance talent! FYI - Eventus has the talent and the experience to support any firm's - public or private - accounting and finance needs. From the article: "Companies may also be more motivated to try out on-demand talent as they look to plug critical skill gaps in their workforces. Ninety-five percent of executives said they anticipate difficulty finding the “ideal combination of skills, capacity and expertise” inside their teams, BTG’s report said. Today’s companies “now are starting to really open up and look at how they can blend full time talent with more independent talent and tapping into those capabilities at the desired time,” Ackerman said." #cfo #accounting #finance #talent #consulting #audit https://lnkd.in/gzFYxtgd

The beginning of the CFO in a company When taking the Helm of the finance funtion, CFOs must come to terms with a new reality. Gone are the days when the CFO was a numbers person who supplied other leaders with data to inform strategic decisions. Today´s CFO´s are 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐬𝐭 𝐚𝐧𝐝 𝐯𝐚𝐥𝐮𝐞 𝐜𝐫𝐞𝐚𝐭𝐨𝐫𝐬 in their own right, with broad mandates and continuos responsibilities to drive strong performance. Given the scope of the role, new CFOs´agendas should be shaped by their organization´s strategic priorities and financial performance. This means that before focusing on execution, new CFOs must get to know the organization. The fist 90 days of their tenure provide a unique opportunity to gain this knowledge and apply it to set a vision for the future. CFOs can then use the vision as the basis for pursuing a prioitized agenda during the rest of their first year. The CFO´s role today is a unique plarform for creating sustained value and impact. CFO´s, along with a small group of C-SUITE leaders, are at the very top of the decision-making pyramid, heading the function with arguably the broadest vantage point across the company. Their strategies often determine wheter the organization succeeds of fails. As an executive at a large tech company told us, “The CFO´s true mission today is to be the ultimate owner and champion of value creation for the company. This unique platform comes with a wide variety of challenges. CFO´s must help to shape the company´s agenda, engage with investors and capital markets, ensure strong financial peformance, and partner with business colleagues to support operations. CFO´ s also must oversee the finance function´s core Audit, regulatory, and risk-management responsibilites. As an initial step, it is critically important for new CFOs to assess the company´s financial health in three áreas: ✅Cash Flow: Ensure that there are no liquidity issues that the company needs to urgently resolve. ✅Accounting Practices: Work with the lead partner at the company´s auditing firm to confirm that there are no regulatory issues or accounting practices that require immediate attention. ✅Audit Issues. Collaborate with the company´s Audit committee to review practices related to auditing, internal controls, and cybersecurity in order to identify pressing issues. New CFOs should address any identified issues upfront, so that they do not dominate the agenda at the expense of other priorities. 👉🏻It is also essential to meet the key stakeholders. CFOs should set up one on one meetings with all direct reports within the first two weeks and all peers and key external stakeholders (such as invertors and the lead partner at the company´s auditing and tax firms) within fhe first four weeks. What is your first step as CFO when you arrive at a new company? #CFO #Finance #teamwork Boston Consulting Group

The latest CFO Pulse report from Personiv highlights a growing #accounting talent shortage. Learn how top #finance leaders are navigating this landscape with strategic outsourcing and a blend of human expertise and technology. Get the full story on CFO Dive: https://lnkd.in/gXZcbt-p #CFOS #Clientwin

The accountant shortage is becoming more real. For CFOs and service leaders, it's something that needs to be managed head-on. Here's a recent article to help stay ahead of the curve and learn how to attract talent and implement efficient workflows to build business success. #CFO #AccountingShortage #Finance #BusinessStrategy #Amalgam #AccountingTalent

Whether it's technological innovation or geopolitical shifts, the modern business world is one of constant change. As such, CFOs must embrace the role of strategic advisors, partnering with other C-Suite executives to navigate this uncertainty. Of course, partnership with other executives is nothing new for CFOs, but the scope of these partnerships is expanding, moving away from traditional finance and accounting to encompass investor relations, corporate communications, technology, procurement, legal service, and business strategy. In many ways, CFOs are ideally suited to this position: they possess in-depth knowledge about the company's strategic direction, but they remain one step removed from the CEO role. This means that they have a better vantage point for the end-to-end strategic implementation and cross-functional alignment necessary for success. #CFOs #BusinessStrategy

The Chief Accounting Officer role is changing to fit modern businesses, shaped by new tech and ways of working. Ranking just below the CFO, the CAO helps lead this transformation. #cfo #cao #finance #financialexecutives #leadershipinsights

The role of CFOs has evolved over time as companies increasingly depend on this critical position to lead strategic initiatives. As the responsibilities of the role shift from financial reporting to strategic business management and digitalization, it will be interesting to see which backgrounds will be in higher demand for top finance positions. #strategy #profitablegrowth #valuecreation

As the saying goes, everyone makes mistakes. Just ask the Los Angeles Lakers, who recently unveiled the Kobe Bryant statue, which featured several easily avoidable spelling errors and mistakes at the base of the statue. While the Lakers are currently working to correct the typos, in the accounting world, the price of these unintentional errors and lack of oversight (due to talent shortages and/or strained capacity at the senior management or executive level) can be especially costly - financially, operationally and reputationally. Facing accountant shortages? Explore co-sourcing as a strategic solution to improve financial reporting and strengthen internal controls. Partner with external experts to fill team gaps, access specialized skills, and elevate your finance department. https://okt.to/XOUctl #FinanceInnovation #CoSourcing #FinancialReporting #InternalControls #CPAs