Shifting Priorities From Making Financial Statements To Analyzing Financial Statements

Driving Better Business Results

Data keeping and financial reporting are largely automated and many of the work can be outsourced now. Hence, time spent on these activities by the CFO's team should be restricted to 10% - 15% of the total time. The major focus should shift from making financial statements to analysing financial statements. A CFO's profile has two major category Hygiene and Health. With lots of resources available to Hygiene, related work can be outsourced or with usage of
technology the time invested on same can be minimised to a great event.

"Business activities which have repercussions on financial statements should pass through the team that analyze decisions"

A large part of a CFO's time is dedicated towards the health of the organisation. Health includes creative thinking and right decision at the right time. This is where a CFO's function should focus.

Business activities which have repercussions on financial statements should pass through the team that analyze decisions. The decisions covered in this committee are of long-term or mid-term nature viz Expansion plan – Geographical or customer catchment, Margin Model, OPEX Norms, CAPEX commitment, Life Cycle of merchandise and many more like this.

CFO team with scheduled monitoring of exceptional reports can ensure check on execution of decisions taken and corrective actions as required.