In the current uncertain business environment, businesses are looking up to their finance leaders for providing meaningful insights that would help in safeguarding businesses and achieving competitive advantage. Finance leaders of today are struggling with risks and challenges of coxswaining their organizations through a changing global economic environment. Today’s finance leaders are balancing traditional responsibilities of being a gatekeeper along with emerging responsibilities such as financial forecasting and providing business insights for supporting regular business decision making. Looking at the current scenario from the service providers’ viewpoint, it is really vital to understand the needs of today’s businesses, as it will help in drawing the road map for scoping the future demands on industry as well as justifying the perspective of CFOs who view the growth prospects of their businesses as ‘sailing against the wind’. The CFOs of today have multiple roles and responsibilities. Just like a juggler, they have to handle many balls without dropping any, while keeping all of them moving in tandem at the same time. Therefore, it is imperative for them to draw a proper road map and prioritize accordingly on the basis of availability of resources and information. This paper discusses the roles and responsibilities of CFO/finance leaders of today by providing some preliminary thoughts to encourage further discussion on the issue.

In this era of economic changes, balancing business priorities and keeping pace with the rapidly evolving industry and consumer demands is the key for sustainability of an organization. Today’s finance leaders struggle with the risks and challenges of coxswaining their organizations through a changing global economic environment. As organizations strive to grow, these leaders have to also keep an eye on business innovations and retaining customers, while at the same time balancing tough financial management and regulatory requirements.

Today’s finance leaders are balancing the traditional responsibilities as a gatekeeper, i.e., cost reduction, structuring the required controlling environment, ensuring appropriate liquidity management and risk management along with emerging responsibilities such as financial forecasting and providing business insight for supporting regular business decision making. Prevailing uncertainty and volatility in the global economy is compelling these finance leaders to recognize the need for continuing fiscal constraints and support the business to drive growth strategies by providing better insights and financial forecasting, and increase investment in analytical decision-making capability. It is a difficult balance to master, as the danger of overzealous cost reduction can lead to capability deficiency.

Effective Executive Magazine, Current uncertain business environment, Finance leaders, Achieving competitive advantage, Changing global economic environment, Resources and information.