Written by Ankur Agrawal, Chris Bradley and Robert Uhlaner
To borrow a flight analogy, they’ve steered the plane through an extended wave of turbulence—but there is every indication that many more dips and dives lie ahead. There is no apparent return to business or finance as usual. Market conditions are changing, and so must companies’ traditional day-to-day planning and budgeting activities—and quickly.
The CFO must regain control of and reimagine financial plans and processes that, many would argue, have been on autopilot in the lead-up to the COVID-19 crisis. A hands-on approach is needed not just to steady business operations in the near term but also to create conditions for the company’s value-creation efforts in the next normal—and to act on key scenarios and strategies generated by the plan-ahead team.
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