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SciQuest CFO: Risk Management Remains Major Challenge

SciQuest CFO: Risk Management Remains Major Challenge

The chief financial officer of SciQuest, a North Carolina-based on-demand procurement software provider, told IDG News recently that the major issue facing CFOs is risk management, particularly with the economy still in recovery mode.

According to CFO Rudy Howard, who directly oversees 15 employees and has been with the company for two years, his business differs from many others in that it was able to thrive during the recent recession. However, Howard notes that weighing certain risks against potential returns is critical for finance chiefs from all businesses these days.

"Back in the mid- to late '90s, CFOs could make many more risky decisions and you knew if you made five risky decisions, one might fail but the other four could take off and explode," Howard noted. "But in today's economy everything has such a risk to it. Even for a company doing well such as ours, you have to tread much more carefully because the risks can be so much more impactful than they were in the past."

The growth SciQuest has experienced recently can be seen in the fact that the company was recently selected by the City of Los Angeles to enhance its purchasing processes, according to a press release.