The CFO role has grown significantly. From an accountant who was involved in reporting, he turned into a business partner, who forms a complete picture of what is happening in the company, and a participant in decision-making – a value architect. Thus, the CFO is now responsible for creating economic value on all key issues in the enterprise.
The value of a CFO
The current role of a value architect has greatly expanded the range of issues virtual CFO services in India has to deal with. In addition to traditional financial activities, he participates in the formation of product, geographic, ERP and technology strategies, in the development of corporate operating models, as well as in issues of enterprise digitalization. CFOs understand the importance of technology for improving the efficiency and productivity of the finance function and the entire enterprise, as well as driving growth and profitability. They often use big data, analytics and digital technologies in their work.
It’s a word that we can’t understand yet in India, but one of the most important positions for running a company is “CFO.” It is the position of responsibility for corporate finance, but its role is not limited to accounting and financial management.
Always focused on results, the Accenture Strategy – CFO & Enterprise Value practice assists the CFO in fulfilling his role as a value architect and his team in solving a wide range of issues and developing appropriate strategies.
CFO is much more than you thought
CFO helps predict and capitalize on emerging technology and business trends and develop innovative strategies for developing an enterprise operating model. We enhance the ability of the enterprise to collect, integrate and analyze a wide range of information to create sustainable, high-performance planning, forecasting and reporting solutions based on modern technologies. Together with our clients, we develop new methods for evaluating and managing investments, including in digital technologies. They share their industry expertise, global vision, multidimensional knowledge of existing technologies and cutting-edge digitalization opportunities to help CFOs address a wide range of issues.
CFO & Enterprise Value practice is widely recognized for its ideas and research on the changing role of the CFO. Drawing on research over the past decade, our High Performance Finance report highlights the key issues CFOs face, how they are applying digital technology and new growth models.
Make a financial strategy with your CFO
A financial strategy is essential for running a company. The business environment in India tends to change significantly with the recent globalization. Market value accounting (valuing financial instruments at fair value and processing profits and losses), consolidated accounting (accounting method that reports operating results by regarding the parent company and a subsidiary as one company), cash flow accounting (increase/decrease in cash) Companies are required to have transparency in financial management, such as calculating in accounting periods). In addition, the time has come when the opinions of shareholders, mainly investors of European and American incorporate company in Delaware, are emphasized when determining management indicators. As a result, Indian companies have to improve their domestic value as well as carry out transparent financial management in line with global standards. It is no exaggeration to say that the key to a company’s success is how to incorporate financial strategy into its management strategy.