Being a flexible and adaptable CFO, these days is integral to business needs. The virtual world and remote working has enabled many great things, but also adds complexity. It’s difficult to stay up to date on things when performing a full-time role and managing teams globally or remotely.
Some key skills that are sought after by employers is something that you will need to keep in mind. How your role is evolving, what direction businesses may wish to take and how you can add value is rapidly changing.
Following industry news and subscribing to key news groups helps to stay on point. It is ongoing and should be part of your daily / weekly planning.
Here are some additional areas that you may wish to strengthen and develop your knowledge on in order to be able to be better positioned to secure good opportunities further down the road.
· Increased Focus on Financial Resilience: Many companies in APAC have recognized the importance of financial resilience in the face of unexpected crises. This led to a heightened emphasis on hiring CFOs with a strong background in risk management, financial planning, and cost control.
· Digital Transformation: The pandemic accelerated digital transformation efforts across industries. CFOs were increasingly expected to have expertise in digital finance, data analytics, and technology adoption to improve financial processes and decision-making.
· Remote Work and Collaboration With the widespread adoption of remote work, CFOs needed to manage remote finance teams efficiently and ensure secure financial operations. This often involved investing in cloud-based financial systems and collaboration tools.
· Supply Chain and Risk Management: Companies in APAC, given their reliance on global supply chains, became more conscious of supply chain risks. CFOs were tasked with developing strategies to mitigate these risks and ensure business continuity.
· Sustainability and ESG Reporting: Environmental, Social, and Governance (ESG) considerations gained prominence. CFOs were involved in sustainability reporting, and some companies looked for CFOs with ESG expertise to integrate sustainability goals into financial strategies.
· Increased Regulatory Scrutiny: In response to the economic impact of COVID-19, governments and regulatory bodies introduced new financial reporting requirements and stimulus packages. CFOs needed to stay updated on these changes and ensure compliance.
· Mergers and Acquisitions (M&A): Some companies took advantage of market conditions to pursue M&A opportunities. CFOs played a crucial role in financial due diligence, integration planning, and post-merger financial management.
· Talent Development: CFOs were also tasked with developing the skills and capabilities of their finance teams, especially in areas like data analysis, automation, and financial modelling.
· Remote CFO Roles: Remote or virtual CFO roles became more common, especially for start-ups and small to medium-sized enterprises (SMEs) looking to access experienced financial leadership without the need for a full-time, in-house CFO.
Stay updated with industry reports and networks for the latest trends! 📊💼 #CFO #FinanceTrends #APACBusiness"
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