more-arw search

Recommended Reading: The Best Stories on Proformative from June

Recommended Reading: The Best Stories on Proformative from June

Lessons Learned: Before You Sign Off on a New Technology System, Who Will Support It?
Type the words ERP Nightmare in Google and read stories that would make Stephen King swallow hard. Why such spectacular failures?  One can blame the mishaps on the parties involved in the transaction — the vendor, consultant and, yes, even the buyer.  The deal may go smoothly during the decision-making process and the initial setup. But afterwards – when the vendor leaves – things can quickly take a messy turn.

Are You an Entrepreneur Trapped in a CFO Role?
Here are the stories of CFOs who have taken the plunge and are not looking back.

Amid Rising Costs, Should You Cut Health Benefits? CFOs Mull Their Options
As some of the more cataclysmic provisions of the Patient Protection and Affordable Care Act (ACA) take effect this year and next, many companies are considering big changes to their benefits offerings. According to a recent survey by Towers Watson, only 26 percent of employers are very confident their company will be offering health care benefits 10 years from now, down from 57 percent in 2009. While few are planning to drop coverage immediately, the complexity and additional costs that seem to be coming with health care reform certainly makes the option more attractive. “I’m not looking to save money on health insurance, but I don’t want to spend any more,” says Morgan, particularly if other programs like retirement savings suffer in the process.

Watch Your Step: 6 Pitfalls That Can Trip Up Retirement Plans and the CFOs Who Run Them
Offering retirement benefits can be an attractive plus for attracting and keeping employees, but they can raise serious issues if you don’t follow certain rules. Not only can missteps result in significant consequences to the overall plan, such as the loss of tax-favored status to employees and a loss of tax deductions for plan sponsors, but plan fiduciaries could face personal liability as well. CFOs involved in retirement plans need to ensure their companies aren’t making these mistakes.

5 Trends That Will Change the Way CFOs Make Tech Purchases
Instead of getting swept up in the latest terminology or tool, senior finance executives who oversee their IT department or have approval for major tech purchases have to think about business needs first, suggests Stephen Kasok, who also oversees IT at Gallus BioPharmaceuticals. “We need to be focused on what the business is doing today and what do we believe the business needs to be doing in some point in the future, and what are the solutions that tie into that,” he says.

That task isn’t easy to do. When it comes time to search for a solution, finance chiefs have a plethora of choices to sort through amid rapid advancements in technology and assertive marketing efforts by service providers. Here are the changes that will be driving financial professionals’ thinking and decision-making over tech purchases.

Take It from This CFO: Why Nonprofit Boards Need Your Expertise
Nonprofits need you. As a CFO with corporate experience, your background is invaluable and a necessity given the continued scrutiny being placed on nonprofits. Being on a nonprofit’s board can give a CFO valuable exposure and board experience, all while giving back. I’ve had the pleasure of serving on two not-for-profit boards in the last four years and am still involved with both organizations. I can only say in so many words that these organizations have given back to me more than I’ve given to them.

Banish CFO Time-Wasters: How to Get More Done Throughout the Day
No finance executive wants to spend more hours than necessary at the office or continue sending emails once they get home, but many find themselves doing these things anyway, partly out of necessity and partly because they could do a better job of managing their time. They tend to feel as though there aren't enough hours in the day to complete everything they need to do. Here are a few ways executives can guarantee they're managing time effectively.

What Not to Say in a Job Interview
Preparing for a job interview is a stressful process, and it can be especially intimidating if you're worried about saying the wrong thing. Whether you're prone to rambling when you're under pressure or just concerned you'll have an accidental slip of the tongue that doesn't shine a positive light on your abilities, it's important to remember the top things you should avoid saying in an interview. Proformative members recently discussed this very topic on the Questions section of the site.

Today's Finance Chief: Taking on Strategy and Shaking the CFO Stigma
"The CFO has always played a critical role in successful businesses, but what we have seen over the last few years is that the role has expanded beyond traditional finance disciplines to increasingly include a broader business strategy and transformation initiatives," said John O'Rourke, vice president of product marketing at Oracle.

What Happens When You Start a New Job and Immediately Hate It?
Your first days on a new job are usually exciting and slightly nerve-wracking. You have to learn new processes, get a sense of the office culture, and meet as many people as possible. You want to keep an open mind. But what should you do if you notice the company you're working for is a mess? Your interviewer probably didn't let on that employees work 12-hour days, processes are disorganized, and all the managers lack communication skills. A controller in this situation recently reached out to other Proformative members for advice on how to cope. "I'm not sure if I'm not ready for the demands of the position or if it's the company that's my problem," the controller wrote. 

Products and Companies: