Managing Risks Through COVID – Crucial Duty of CFO

 

As global growth takes a sharp turn in the wake of COVID — 19, CFOs of companies large and small, are embracing an extraordinary economic situation. In this situation, CFOs need to proactively take charge in assessing their company risk and vulnerability from both an operational and a financial point-of-view.

The crucial role of a CFO now requires them to decisively manage risks and plan for possible recovery scenarios (rapid or slow) with possible impacts on liquidity.

What does this mean for in house or Virtual CFOs and how can they manage risks?

The decisions made by CFOs now directly affect business continuity. Their leadership decisions ensure business operations run, supply chains continue, and employee payrolls are met. In testing times like these inhouse or outsourced virtual CFOs need to take skilled leadership to help ride the transition while managing risks.

Here  is the infographic with the steps listed below are some highlights that can be considered by CFOs to manage risks and ensure business continuity in the near future.

 Want to leverage outsourced CFO services to help you navigate through these difficult times? Reach out to cfobridge.com

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