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Against the backdrop of increasingly widespread DEI (Diversity, Equity, and Inclusion) initiatives, Black professionals account for only 13% of the U.S. financial services workforce, and only 8% of C-suite executives are Black. Christopher Johnson, President of Global Financial Services at Pitney Bowes, drawing on his own experience, points out that systemic barriers still exist and proposes four concrete actions: increasing participation rates, reforming credit assessment, shifting to skills-based hiring, and cultivating the next generation of Black leaders, urging the industry to open dialogue to catalyze change.
Persistent inflation continues to impact supply chains, with CFOs facing rising costs for raw materials, transportation, energy, and labor challenges. This article proposes three key practices: optimizing inventory management to balance agility and resilience, using financial derivatives to hedge against energy price volatility, and integrating scenario planning with short-term cash flow forecasting to develop medium- and long-term strategies, thereby maintaining profitability in an uncertain environment.
In an article by Kathryn Kaminsky, Vice Chair of PwC US, she notes that CFOs are placing talent strategy at the core, rethinking the role of the office and hybrid work models, while addressing multiple challenges such as inflation, tight labor markets, and a potential economic recession.
As the economy may slip into recession, it seems logical for CFOs to cut office space budgets, but experts say achieving real estate cost savings may be more complex than in past downturns. Office space utilization is only about 50% of pre-pandemic levels, and hybrid work models have become the norm, requiring CFOs to weigh multiple factors such as layoffs, leases, market divergence, and capital costs. This article proposes four key principles: rent savings are not the only source, location remains important, sale-leaseback demand fluctuates, and per-capita space ratios no longer apply.
In early 2023, CFOs tightened technology spending to address economic uncertainty. Based on insights from multiple finance executives and advisors, this article proposes five strategies to enhance ROI on technology investments: technology inventory, prioritization, contract renegotiation, frontline insights, and cloud cost management.
As revenue rebounds in 2022, businesses still need to be wary of future uncertainties. This article argues why accounts receivable should be a priority in 2023 from three perspectives: rising default risks, high hidden costs of overdue receivables, and the importance of prompt collection in maintaining customer relationships, supported by quantitative data.
In 2023, CFOs need to be vigilant about four major trends: persistent inflation, a tight labor market, new SEC disclosure rules, and strengthened accounting regulation. Based on expert insights, this article examines the potential impact of these trends on businesses and provides practical recommendations.
In this article, Ewout Steenbergen, CFO of S&P Global, reviews the execution journey after the company completed its merger with IHS Markit in 2022, and looks ahead to 2023: despite ongoing macroeconomic uncertainty, there may be opportunities for accelerated growth in the second half of the year. He proposes that CFOs should adhere to 'future-proofing' investments, tell the story of corporate purpose, and embrace digital tools such as artificial intelligence and machine learning, thereby laying the foundation for 2023 and beyond.
The collapse of FTX revealed systemic flaws in the cryptocurrency industry regarding risk management, regulatory arbitrage, and centralized power concentration. Metallicus Chief Financial Officer Irina Berkon proposes three key reforms: adopting true decentralized architecture to protect user assets, curbing global regulatory arbitrage, and building a compliant future through forward-looking legislation and technical solutions.
As the economy slows, CFO responsibilities have expanded from traditional financial accounting into multiple areas such as human resources, cybersecurity, and customer service, intensifying workloads. Surveys show that 81% of CFOs believe their daily work intensity is higher than that of other executives. Experts point out that scope creep stems from the unique nature of the CFO role and brings relationship challenges with the CEO and other executives. Based on insights from multiple experts and the latest data, this article analyzes CFO stressors and coping strategies.