McKinsey defines four kinds of CFO. Not all of them, in the modern world, are particularly helpful, but they’re definitely out there. You may have come across a few of them in your own rise to CFO. You may even be one of them.
Here are the four kinds of CFO commonly found in business. Do you recognise yourself in any of these?
Data Scientist: Yo accountant dude! Why do you never forecast your miscellaneous revenue line?
Accountant: It’s miscellaneous, you can’t forecast that line.
DS: But dude, it’s 1% of your total revenue, that’s gotta impact the business and your forecast sensitivity, right?
AC: That line has no owner, you can’t forecast that line.
DS: I got exciting news dude, I can predict this line for you and be 75% accurate. That’s gotta be better than putting in a big fat zero? <holds up hand for a high five> Continue reading “Is your forecasting mindset killing CFO innovation – almost certainly!”
