CFO crisis leadership encompasses three facets, according to Jeff Laborde, CFO of JAGGAER, a cloud-based spend management software provider. The first — respond as effectively as you can to short-term needs while preserving cash and liquidity. Second, build engagement between finance and procurement teams. And third, ensure efficiency and be more responsive to quickly changing demands and shifting priorities.
Laborde has spent most of his career leading finance teams, and the Raleigh, North Carolina-based company is the sixth for which he’s served as CFO. Each of his turns in the role have sharpened his view on what the CFO job calls for, particularly in unsteady and challenging times.
In an interview with CFO Dive, Laborde said a down economy doesn’t necessarily imply a business decline as it does in sectors like hospitality. But, he said, managing costs remains critically important for companies, particularly those in the SaaS business. The magnitude of the COVID-19 disruption is in a class of its own.
Source: CFO Dive (2020)