As part of the CFO Forum organized by Latin Trade Group for Bogota in May, the finance managers of major companies based in Colombia discussed the new role that is developing for them within their organizations. Here are their observations.
In recent years, the work of CFOs in the region has been undergoing a sea of change, from being the guardians of financial stability to being true partners in company management. These executives are now being tapped to play a more active role in assessing and participating in business decision-making, while bringing new elements for coordinating strategy for all activities.
"Now we don't work for a company; we work with it, focusing on where it should be going in order to be profitable and generate long-term value," said Carolina Garda, CFO of DirecTV Colombia. This was one of the conclusions that emerged from the Latin Trade CFO Forum, in which more than 30 local and multinational financial managers took part.
Carlos Hleap, CFO of Diageo in Colombia, said finance managers are taking on a new role that enables them to be the true information providers for decision-making. In this role, they are able to coordinate the key messages and the mission as they relate to the projections, budgets...