OCTOBER 20238MY OPINIONINBy Daniel Jasso, Director of Finance, Rhino MachineryIn a changing world with demanding businesses for satisfactory results, it is difficult to find the right path to be an efficient CFO and provide solutions to the challenges facing today's businesses.While some think that a good CFO is one who makes correct financial decisions, maximizing the profitability of business, the truth is different in 21st century, because now the CFO requires a more complete role in the company, not only making financial decisions but accompanies the general management in the business strategy.Speaking about financial decisions, you must consider basic principles to guide your job day by day and those principles are generating profits and generate growth in your company, to do that you can implement a different strategies like cost reduction policies, policy for saving expenses, facilitate credit to your customers, increase sales territory, etc., but now, the companies require. Besides this, it is especially important to note the role of the CFO is changing all the time and now you must become an ally and true support for the general manager. Regarding to business strategy, it is particularly important to analyze your company and define in which category it is:· Start up business· Transformation· Acelerated growing· Reestructure· Consolidated business, sustain successOnce you identify the category of your company, you must prove that the current strategy is correct for the category of your company. To do that you have to analyze the results delivered by the strategy, evaluate the current business plan and the resources of the company, and finally design a new strategic plan.When you finalize with those analysis you will be able to emit your opinion about the strategy of your company and purpose changes to align the company towards its objectives.I do not think there is a defined path to be CFO, you must create your future to reach that position someday. To achieve this, you must set challenging goals academically and professionally and you must achieve them. I have seen professionals reach the CFO position through experience in controlling while others bring experience in marketing, others more in treasury and all have managed to perform the function properly.Having said that, you can choose your own path to be CFO in 21st century, the most important thing is to visualize your position in your future and make the necessary things to Daniel JassoMY OPINIONINTHE PATH TO BECFO IN 21st CENTURY
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