More and more often we hear about Chief Financial Officer , or CFO, a somewhat mysterious acronym behind a profession that is actually very well known: that of financial director. Although many people already know this important professional figure, it may not be entirely clear what their functions are. So let's try to find out what a financial director is and what they do .
Who is a CFO?
The CFO is one of the most important management figures along with the entrepreneur/owner and the general manager. He or she heads the Administration, Finance and Control area of companies, with responsibility for the general direction and planning of financial activities. His or her work is particularly crucial in crisis situations, as he or she is in charge of managing the company's capital and cash flows.
The CFO is therefore a key member of the management team , responsible for the financial health of the company and the guarantor of its ability to have the financial resources necessary for the germany whatsapp data development of the business. In particular, the CFO is responsible for ensuring that the company's management is financially stable and sustainable, maintaining a balance between investments and control of associated costs.
What does a CFO do?
Now that we have understood who a CFO is, let's see what he does. A financial expert and team leader, this professional plays a decisive role in any organization. He is essential to achieving objectives , acts as controller and accountant, but his main responsibility is to oversee financial management. He must ensure its stability and improve its results, dealing directly with the CEO, whom he supports in strategic decisions.
The CFO is also responsible for planning and coordinating investments and investments. He or she may also interact with human resources, intervene in actions aimed at data protection and question business partners. His or her tasks are very broad and diversified and vary depending on the business context: sector, size and organisation model.
In any case, the main activities and responsibilities of a financial director are:
Budget management.
Cash flow management.
Financial analysis and planning.
Investment evaluation.
Inform the CEO and/or shareholders.
Management of regulatory compliance in the accounting/financial field.
Management of extraordinary financial operations.
Chief Financial Officer
In the era of digital transformation , the CFO or financial director occupies an even more strategic position. In fact, it is also necessary to take into account the inclusion of all the new digital technologies in their tools: analytics to extract information from big data, artificial intelligence to analyse market trends, process automation, etc.