Why Being Tech Savvy Is A Building Block To Success In Finance

A strengthened commitment

Shall we begin with an understatement? COVID-19 has changed everything— particularly the province of business. The hybrid work movement, the global economy, and the continued disruption of supply chains are just some of the seismic shake-ups that have forcibly readjusted the operational mindset of the modern finance executive. Among the characteristics of this new focus is a renewed commitment to digital leadership. The post-pandemic working world has created a digital-first landscape, one in which only those with a demonstrated facility for data, automation, and cloud-based communications can help companies not just survive but thrive.   

Grayhawk Search is one of the world’s foremost Finance Executive Search specialists. Drawing on our deep knowledge of the skillset of top-performing CFOs, we’re offering this detailed list of the primary digital leadership qualities every C-suite executive should have in their post-pandemic arsenal:

Digital leadership – top qualities

Communication

Communication, whether it be internal, B2B, B2C, or supplier-based, is more important than ever. Given the frail economic atmosphere, executives must be prepared to (yes, we’re going to use the ubiquitous “p” word here) pivot—and at a moment’s notice. As short-term planning and flexible forecasting become the norm, it’s imperative that members of an organization’s C-suite be on the same page at all times. This necessitates an added emphasis on the collection and distribution of financial blueprints, KPIs, and real-time, or near-real-time, data. In addition, with today’s workforce at a geographic remove, it’s easy for an organizational fissure to develop between management and employees. Part of the added responsibility of the former is to keep the latter informed, functional, and comfortable. More often than not, this necessitates the procurement and implementation of cloud-based technological advances allowing people to perform tasks and work collaboratively in as seamless a manner as possible. 

Automation

The popularity of professional social platforms from Zoom, Slack, Skype, and Microsoft Teams has made cloud-based team collaboration software a boom industry. With the hybrid work model here to stay, virtual meeting facilitation becomes a major C-suite responsibility. It not only keeps employees productively tethered to the company but also improves organizational connection to the global customer base and strengthens collaboration with supply chains. 

In addition, familiarity with burgeoning technological trends such as AI, deep learning, and robotics can serve as a prescriptive precaution in event of developments necessitating labor shrinkage.  

Security

Given this renewed emphasis on automation, it goes without saying that cybersecurity becomes equally important. Canny companies are ramping up expenditures on digital identity protection, cloud security, and access control systems. However, as prudent businesses are switching to a risk management model with limited purchasing power, the trick is to create a secure technological infrastructure without violating reserve capital. This often necessitates the engagement of a strong CISO, one with the expertise to make highly technical information decipherable to executives and employees, toughen internal policies on digital ethics, and prove well-versed in data breaches and disaster recovery.

Forecasting

How to read the tea leaves when the winds of change keep rattling the cup? The answer is sophisticated data. More and more CFOs are investing in state-of-the-art data collection and mediation platforms to provide real-time or near real-time updates as frequently as possible. Daily dashboards are the safest guarantee against unforeseen disruptions in the industry, marketplace, or consumer habits. Data-savvy technology and personnel can create the kind of flexible strategic planning it takes to adjust to whatever the world serves up next, likely scenarios that would necessitate accelerated decision-making. 

The digital-first CFO

Let’s be frank: no CFO, regardless of how digi-savvy, can keep the influence of a pandemic entirely off your business. But techno-smarts remain the surest way to safeguard your competitive edge in a world in which costs are rising, supply is scant, labor is thin, and consumers remain cautious. Without the invaluable guidance of a bona fide digital leader, there’s a hole in the fabric of your C-suite from which profitability is draining.

Grayhawk Search

As the world’s leading Finance Executive Search specialist, Grayhawk knows how to locate and procure the digital leader capable of constructively automating your company. As renowned recruiters of visionary, forward-thinking CFOs, Grayhawk has a keen eye for C-suite talent with the prescriptive focus and technological savoir-faire to digitize your company not just for today, but for tomorrow.