Power of 3 - #3

By Steven Beshears posted 12-07-2020 09:53 AM

  
PO3

AchieveNEXT Power of 3

 A weekly three-minute read highlighting takeaways and insights from conversations with our members.

 

Top 3 Quotes of the Week:

 
"Everyone has a playbook”

We all want to be prepared for whatever comes our way, but what are we preparing for anyway? With 2020 making your existing playbooks obsolete, how many playbooks are you juggling as we enter 2021? What are the various scenarios for which you’re planning?

 

"CFOs thrive in chaos”

Growing up I was always taught that you should never be the smartest person in the room. Professionally speaking, I now hope that the CFO is the smartest in the room. The position of CFO comes with so many hats and operations that it takes a special person to hold that seat.

 

"Efficiency comes with collaboration”

Recently I’ve heard many of our members discussing tech changes to their respective organizations. ERP system here, or CRM there. One member is making multiple changes to their organization and when I asked, “What prompted these changes?”, her response was perfect: “Efficiency comes with collaboration".

           

 

Top 3 Articles Shared This Week:

 

Coca-Cola CFO prefers 'scenario management' to 'scenario planning'

 

Coronavirus Pandemic Helps Speed More CIOs Toward Business Operations Accountability

 

New PPP Data Show Coronavirus Aid Flowed to Large and Small Firms Alike

 

 

Top 3 Major Topics of Discussion This Week:

 

Artificial Intelligence -

What are the best practices you’re seeing with AI? Is it with data forecasting? One particularly interesting case of AI being used in finance involves fraud prevention. If you’re spending money on technology, when and where do we spend it in AI?

 

Managing Cash Flow -
Members this week were keen to discuss how cash is and always will be king…. Regardless of your stance, what are the best practices on managing cash flow? How are we staying front of mind with our clients?

 

Strategies for 2021 -
When, how, where, who, what? Yes.

The strategies that have always worked in the past for most of us had to be thrown out of the window this year. The Titanic was unsinkable. Let’s make sure we aren’t making the same mistakes in 2021. What scenarios are you considering as you work on strategic planning for 2021?

 


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