CFO Weekly Private Equity-Backed CFO Strategies for Finance Transformation with Connor Augustyn, Director at West Monroe
Sep 17, 2024
Connor Augustyn, Director at West Monroe, shares his expertise in finance transformation strategies tailored for private equity-backed CFOs. He discusses aligning long-term strategies with short-term goals and the pivotal role of technology in driving successful transformations. Connor emphasizes stakeholder engagement and buy-in while outlining key performance indicators critical for assessing finance initiatives. The conversation also touches on the importance of change management practices and the integration of emerging technologies like AI to enhance operational efficiency.
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Early Career and FP&A
- Connor Augustyn's early career involved a traditional finance route, which he found unfulfilling due to the focus on data aggregation rather than analysis.
- This experience led him to realize the importance of FP&A over controllership for organizational growth and scale.
Importance of Collaboration
- Early in his career, Connor Augustyn learned the importance of asking the right questions and bringing the right people together.
- He emphasizes that expertise isn't about having all the answers, but about critical thinking and collaboration.
Challenges and Solutions for PE-Backed CFOs
- PE-backed CFOs face unique challenges, especially regarding focus and alignment due to high debt, growth needs, and stakeholder demands.
- Understand the investment thesis, assess organizational risks, and prioritize initiatives based on impact and urgency.