CFOs: ownership transitions in B2B

Finance transformation can seem overwhelming, but starting small and thinking big is key to success. One place to begin? Focus on a fast and efficient financial close. This not only saves time and reduces stress levels but also sets the groundwork for further transformation. Find out more on how you can achieve a Faster Close: https://bit.ly/3VHNitp If you would like support on any of these challenges or are starting to think about how to transform your business to align with upcoming changes, please get in touch at [email protected]. #Finance #Transformation #Efficiency

#OPINION Mastering finance transformation: 4 strategies for PE-backed CFOs These critical steps help private equity backed CFOs navigate the complexities of finance transformation and build a future-ready finance function that delivers value.

56% of CFOs struggling to balance cost cutting and financial growth, according to CFO. During budgeting season, the top priorities for CFOs are: - Cost controls within the finance function - Cost controls across the entire business Read the full article here: https://bit.ly/3Xy3RZ7 Schedule a 30-min intro meeting to learn how Consero can help you streamline your budgeting process for 2025: https://bit.ly/3XBzotj

These critical steps help private equity backed CFOs navigate the complexities of finance transformation and build a future-ready finance function that delivers value. Mastering finance transformation: 4 strategies for PE-backed CFOs https://hubs.ly/Q02RtvmL0

5 things CFOs must not say about finance transformation: 1. "Now is not the right time." It may seem like there are always more competing priorities, but putting off progress means falling further behind. Strategic changes should be made when the way you do things now is stopping you from providing value. 2. "We don't see immediate ROI." Return on investment (ROI) from a shift in finance doesn't just mean hard cost savings. Things like better reporting, data access, controls, and stakeholder happiness give an ROI that is hard to measure but very important for long-term success. 3. "It's too expensive." If done right, a finance makeover can actually save money in the long run by getting rid of manual workarounds, filling in gaps in technology, and stopping problems that will cost more in the future. If you look at the TCO over a few years, you'll see that most projects are priced fairly. 4. "We can do this with our current tools." Using solutions and old tools may seem like a cheap option, but they usually make things less efficient. Finance can't do as much with old methods, and they put people at risk of not following the rules. They also miss opportunities that their more flexible peers take advantage of. 5. "Transformation sounds big and scary." Even though change can be a hard pill to swallow, most modern makeovers are well-planned and aim for quick wins along the way. Expertise and support from stakeholders can break down what seems too big to handle. Better financial skills are worth a lot more than keeping things the same. So think of it: Is the current state of your finance function really serving your business needs, or is it time for a change? P.S. I'm Wouter Born, a CFOTech entrepreneur, investor, and advisor. I'm also the co-founder of CXO Software (exit 2018) and former head of M&A at insightsoftware. I share daily CFOTech insights, business lessons, and personal learnings to help you get better at life and business.

These critical steps help private equity backed CFOs navigate the complexities of finance transformation and build a future-ready finance function that delivers value. #Aimie

"Cash is the lifeblood of every organization, driving decisions from acquisitions to hiring. However, as we move through 2024, it’s apparent that cash isn’t as readily available as it once was. " "On top of that, rising costs are affecting wages, making it more difficult to attract and retain skilled talent. Furthermore, consumers are tightening their belts due to inflation, spending less on non-essential goods and opting for cheaper necessities. "   "These factors create a tough cash outlook for businesses. To thrive today, companies need predictable and manageable cash flow to ensure stability. "

What are the critical steps to help private equity backed CFOs navigate the complexities of finance transformation and build a future-ready finance function that delivers value? #cfoadvisory #OfficeoftheCFO #financetransformation #RiveronInsights

5 things people get wrong about finance transformation: 1. "Now is not the right time." It may seem like there are always more competing priorities, but putting off progress means falling further behind. Strategic changes should be made when the way you do things now is stopping you from providing value. 2. "We don't see immediate ROI." Return on investment (ROI) from a shift in finance doesn't just mean hard cost savings. Things like better reporting, data access, controls, and stakeholder happiness give an ROI that is hard to measure but very important for long-term success. 3. "It's too expensive." If done right, a finance makeover can actually save money in the long run by getting rid of manual workarounds, filling in gaps in technology, and stopping problems that will cost more in the future. If you look at the TCO over a few years, you'll see that most projects are priced fairly. 4. "We can make do with our current tools." Using solutions and old tools may seem like a cheap option, but they usually make things less efficient. Finance can't do as much with old methods, and they put people at risk of not following the rules. They also miss opportunities that their more flexible peers take advantage of. 5. "Transformation sounds big and scary." Even though change can be a hard pill to swallow, most modern makeovers are well-planned and aim for quick wins along the way. Expertise and support from stakeholders can break down what seems too big to handle. Better financial skills are worth a lot more than keeping things the same. So think of it: Is the current state of your finance function really serving your business needs, or is it time for a change? P.S. I'm Wouter Born, a CFOTech entrepreneur, investor, and advisor. I'm also the co-founder of CXO Software (exit 2018) and former head of M&A at insightsoftware. I share daily CFOTech insights, business lessons, and personal learnings to help you get better at life and business.

What is the impact of putting off your financial transformation? What initiatives are getting prolonged or completely scratched? How's your employee retention rate? There will never be the "perfect time" and you need to consider what the cost of inaction is.