Every business strives for growth and higher revenues. But you constantly have to deal with industry changes, which can have either a positive or negative effect. No matter the reason, as an operational CFO, you must be able to adapt and balance change and growth effectively to stay on top.
Jennifer Herdler, Chief Financial Officer at Impact Health, shares her experience and expertise as an operational CFO when dealing with change management and how to benefit from it.
In this episode, we discuss the role of an operational CFO, what you need to become a great one at that, the key for successful change management amongst other interesting topics.
Becoming an Operational CFO
An operational Chief Financial Officer is one of the most significant roles in a business. Along with the accounting and financial responsibilities, this type of CFOs oversee things like building and organizing effective financial teams, performance improvement, change management, and financial strategy.
“I think what has helped me through this whole process of being an operational CFO is enjoying both the people side and the numbers side of the business”
Focusing on the Operational Side of the Business
An operational CFO needs to understand the key drivers of the business and have good planning, organization, communication, and training skills.
“The CFO role has evolved into a planning, proactive role and trying to help lead the organization”
Changing and Growing
Whatever the cause, businesses face challenges and need to adapt to changes. For Impact Health, change meant building new infrastructure, re-defining and re-organizing processes, and adopting new tools and technologies. When dealing with changes, CFOs need to be well-organized, structured, strategic, and must rely on good information and metrics.
“The constant thing is change”