The C in CFO should stand for captain.
Just like the captain of a ship, Chief Financial Officers are tasked with charting the best financial course for a company's future. But, as a common proverb says, “a good captain is not made from calm seas.”
Right now, the seas of our economic environment are roiled. The economy, according to the National Bureau of Economic Research, entered a recession in February, and although we continue to forge a new normal, we are far from smooth sailing.
Since COVID-19 struck, business changes are hitting organizations like waves in a storm. Many companies have struggled to dodge the crashing waves much less keep the ship on course.
That’s where a strong CFO comes in.
“This year has been a wartime for businesses,” says Clari’s Chief Financial Officer, Alyssa Filter. "What we're going through is a once-in-a-lifetime black swan event that is testing even the sturdiest of companies globally. No one could have expected to be in this position a year ago, but as CFOs, it's our duty to navigate our way through it. Whether your company is experiencing a headwind—lost business—or a tailwind—suddenly explosive business like Zoom or hand sanitizer—these extreme shifts in operations impact your business strategy."
Whether companies are in headwinds or tailwinds, there is plenty to keep the CFO up at night. Korn Ferry’s 2020 CFO Pulse Survey revealed that the two top of mind worries for CFOs were:
- Organizational alignment (23%)
- The need to align finance with overall business strategy (13%).
Korn Ferry also noted that organizational alignment as a concern was up 18% since 2018. A dramatic leap, but not unfounded for these uncertain times.
As CFOs steer their ship towards a new normal, how can they take the helm to streamline communication and alignment within their organizations?
How can they find solutions to short term challenges while also preparing their companies for growth?
In our newest ebook, "How Data-Driven CFOs Navigate Through Revenue Uncertainty", discover how CFOs from Planview, Outsystems, Carbon Black, Thoughtspot, and Corelight forecast with confidence to steer their organizations towards alignment and growth. You’ll also get a deep dive into Clari CFO, Alyssa Filter’s, Forecasting CFO Checklist and Dashboard to help you chart your course.
Want more tips from the Clari CFO Playbook?
Check out our most recent episode of Clari Playbook, where Kevin Yao, our Director of Financial Planning and Analysis, shares how he streamlines both analysis and communication to uplevel Clari's business decisions.
Clari Playbook is a video series featuring revenue experts who share their best practices around mastering pipeline visibility, winning renewals and reducing churn, aligning go-to-market teams, and much more.
Check out past episodes of our Clari Playbook series:
- Account Engagement, the Key to Winning Customers and Growing Revenue with Stephanie Glass
View more revenue tips from our recent series, Clari from Home:
- Deal Updates, Micromanagement Free with Diana Cappello, Sales Engineering Manager
- Clari from Home: De-Risking in the Time of Coronavirus with Michael Kenney, Director of Sales
- Managing Renewals and Churn, Spreadsheet Free with Jessica Starr, Director Customer Success Operations
- Identify At-Risk Deals Before They Slip with Vernon Bubb, Managing Director, EMEA
- Save Time Inspecting Deals on the Fly with Kyle Rutter, Senior Sales Director
- Benchmark Rep Performance with Real-Time Data with Maya Connet, Enterprise Sales Director
- Get a pulse on account health in a digital world with Holly Procter, Vice President of Sales