How the role has transformed in Pandemic times

and Post Pandemic

Anand Soni, CPA, CA, Group CFO.
 Expectations from CFO now are completely different .

A) What are the new expectations - to survive , consolidate,

grow , accelerate the Business depending upon the health
and phase of the business, and prepare the group ready to
face financial turbulence ; anticipated or unexpected.

B) Managing Mayhem, Managing Unprecedented Times

C) Risk Mitigation
 You need to be Business CFO to meet these
expectations .

 The role goes much beyond the

traditional Finance and accounting, that is not the
role any more. CFO needs to get into all areas of
business , and drive the business financially and
commercially. This is easier said than done, as this
demands that CFO has a reasonable to good
understanding of the business/ product nuances, and
technically understands the business. This is a
challenge, and need efforts from CFO as this is not
his or her niche expertise.
 Business CFO cannot be bookish, though
needs to be academically very strong .
Another aspect for a Business CFO, is to look
at the end results, which need to be achieved,
, believing there is always a solution
 Getting nuances of businesses, does it need CFO
spending more time with other functions? :

The onus is on Business CFO ( and not on

others ) , to be conversant with the business
nuances , which includes going deep dive in
other areas including sales, shop floor, sites etc.
The caveat , for CFO , is not to over indulge than
what is needed.
Horses for courses.
 Are people skills more important than
technical skills for Business CFO ?:

. People skills and technical skills are equally

important, but if I have to choose one, I will
choose technical competencies over people
skills by some points , more so ,if CFO is
handling diversified businesses, often
unrelated .
 Business CFO cannot be bookish, but be
academically very strong, are you not
contradicting ? :

 CFO needs to have expertise in niche

accounting and finance. He gets it by
academics and experience .
 Business CFO's need Procurement teams to
support on the commercials ?

 Of course, to optimize the working capital

for an effective supply chain .
M

 Manage the Mayhem and Growth of the

business as Business CFO by :

a ) Competing with yourself everyday

b) Self-belief, no one can take your self belief
unless you allow it to be taken by others.
c) Going deep dive into business nuances
d) Don’t be over enthusiastic for the approval
of others.
e) Combination of technical and soft skills.

 All finance heads are expected to become
Business CFO’s and the trend will increase
further, because the businesses are under
stress .