Top 6 myths about CFOs

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CFOs are often viewed in a company as bean counters, and often envisioned as those playing with numbers. As Chandler puts it in F.R.I.E.N.D.S, they are often viewed as loners taking Bittertown, Aloneville and Hermit Junction. Is that all what CFOs are made up of? Nope. Nerdism isn’t a synonym of CFO. Especially not in 2022.

 

Yep! Many CFOs seem to possess that inherent talent of calculating earning and gross margin per share inside their 1400 gm brain. Every CEO’s job is incomplete without the efforts of a CFO. They have the ability to make your seemingly huge complicated numbers zoom out of your view and appear as tiny, tiny micronic particles.

 

So, are you ready to demystify the myths surrounding CFOs? Hop in!

CFO

Top 6 myths surrounding CFOs

CFOs can replace calculators

Every CFO is fond of numbers. That’s what gives them the patience to bear the challenges with patience. But the calculation is just a part of the job. Their primary task is analyzing what the calculations try to communicate, foresee any problems and communicate them with the team.

They are marketing rivals

CFOs can’t stand marketing without any end goal or metrics, but that doesn’t mean that they play Tom and Jerry with the marketing team. They just consider themselves as Samaritans sent to purify marketing clutches and streamline the goals.

They are micromanagers

If a CFO starts deep-diving into each and every small detail of business spending, then they are bound to go crazy. To avoid this, they should act smart without letting their inner controlling freak block the way of practical approach.

They don’t impact the business directly

The majority of the CFOs take a plunge in aligning the goals of restructuring, mergers and acquisitions and strategic planning. All these would have a direct impact on any business.

CFO is a man’s world

Not at all. According to a 2018 survey by Statista, the female CEOs count was 4.9%, whereas the percentage of CFOs was 13.2%. We have plenty of CFOs like Dhivya Suryadevara, the first CFO of General Motors and Amy Hood, CFO of Microsoft setting the standards for young CFOs in the upcoming days. If you never go dry on the passion and love towards your job, you can succeed, no what what your gender orientation is.

The job of a CFO is easy

If a CFO hears this, he is going to raise his eyebrows and sigh. CFOs are those hard-working folks capable of running lean organizations. They set examples on how to be the best at all budgets. Sure! Some applications like SAP S/4HANA Cloud simplify their job, but their job isn’t an easy feat that can be aced up by anybody.

After reading this, do you want to go ahead and give your CFO a pat on his/her shoulder? We are glad! Go ahead!

Are you looking for an ERP solution that would lead them to appreciate you back! SAP S/4HANA Cloud is the name you should remember. Contact us for more details.

FAQs

Nope! Even though they love themselves, the majority of the CFOs don’t take it upon themselves to entertain their teams. They are passionate about their work and team culture.

The CEO is dependable for the overall company performance. The CFO constrains himself to the finance part of the business but contributes immensely to the success of the organization.

Eventhough opinions differ, many CFOs are fond of SAP S/4HANA Cloud owing to its sophisticated features tailored for finance teams and an all-in-one dashboard.

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