Frequently the challenge for the CFO is to evaluate the existing business situation and make meaningful recommendations to improve the financial performance of the business. This activity is more than a mindless exercise in cost reduction. Typically it involves evaluating and benchmarking a range of activities that have never been examined before to see where improvements can be made against traditional and industry-specific standards. The impact of actions that alter the existing business must be carefully evaluated for the impact on the businessís ability to grow and perform its mission in the future.
Financial performance can be enhanced though improved management of working capital, outsourcing, automation, or improvement in economies of scale that increase the efficiency of the business. Understanding how to drive efficiencies and improved operating margins into your business is a critical activity to ensure you remain competitive and relevant within your industry.
Itís not your desire to hire a mediocre CFO any more than itís our desire to manage a second-rate company. We want to help companies we believe in and who want to be a top performing firm among their peers. To do that you must always be measuring and improving.