The CFO's Strategic Role

Steve Isom, the CFO of Bloomerang, joins CJ to talk about what it really means to be a “strategic” CFO. Steve shares profound insights on the people element of the job and how finance leaders can avoid making the business a math problem. He discusses the CFO’s job in playing offense not just defense, and what that looks like. He sheds light on how as a CFO, you can prove yourself as a valuable contributor and earn an invitation to various conversations instead of being seen as an umpire or “CF-no”. He also explains how to deal with friction when you do have to play that role. The conversation covers transaction readiness as part of the CFO’s job and how this helped Steve when a previous company, Flywheel, was acquired in a process that took just 31 days even though it wasn’t even for sale. He closes with advice on how to build a kick-ass finance team.

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TIMESTAMPS:

(00:00) Preview and Intro

(02:40) Sponsor – Planful | RightRev

(07:48) What It Means to Be a Strategic Finance Leader

(12:44) Having Empathy for Sales and Other Roles

(15:29) Sponsor – Brex

(16:48) Playing Offense Versus Playing Defense

(21:02) Balancing the Metrics with the People Element

(29:05) Earning a Seat at the Table as a CFO

(31:58) Dealing with Friction When You Have to Play Umpire

(38:36) Transaction Readiness as Part of the CFO’s Job

(41:14) Flywheel’s 31-Day Acquisition

(47:47) Building a Kick-Ass Finance Team