From survival to revival: How CFOs can succeed in an upended economic landscape

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Keith Denham

Managing Principal - CohnReznick Advisory

Pave your path forward with stronger processes, risk controls, and financial planning

As the COVID-19 pandemic and its countless disruptions persist, many CFOs are focused on bridging the material changes to the finance function with understanding how to resiliently respond to and prepare for a continually evolving future. Now more than ever, it is especially important for CFOs to improve what they can control by reassessing policies, strategies, and workflows across the enterprise to best protect performance. Explore our resources and insights on four specific areas that CFOs should prioritize now to safeguard a path from survival to revival in our next economic normal and beyond. Plus, learn ways in which CFOs can use their unique position to respond to recent social and environmental initiatives by helping instill a culture of corporate responsibility committed to governance and social and environmental sustainability.

From survival to revival: How CFOs can drive success in an upended economic landscape

8/11/2020 | Keith Denham, Swami Venkat

In the current business environment, chief financial officers can help maximize revenue, minimize costs, manage risk, and improve financial planning. Read more.

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Navigating disruption with agility

Flexible finance strategies are the road to resiliency in 2020 and beyond. Learn how to elevate your planning process with real-time data and analytics to enable nimble, connected operating environments and help mitigate the impact of future crises.

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Customizing your work-from-anywhere strategy

Whether you’re planning to move forward with a hybrid arrangement or a fully remote environment, make sure your remote-work strategy includes seamless communication and collaboration, adequately heightened cybersecurity and data protection, and other careful planning – and maintains your work culture, too.

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Prioritizing risk and compliance complexities

COVID-19 and the rise of remote work have ushered in a new era of cybersecurity, data privacy, and regulatory compliance risks. Embed risk awareness and compliance into your finance function and across your organization so you can continually prioritize the right security spend and help lower your cost of compliance.

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Building a better finance function

As you adapt to coronavirus-driven shifts and functional changes, revisit your current processes and build a new plan for the future. Learn how streamlining – and even automating – processes can trigger a cascade of operational efficiencies, reduce operating costs, drive employee satisfaction, and improve financial performance.

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Advancing corporate responsibility

COVID-19, the global economic downturn, and increasing calls for social justice have prompted many organizations to review their commitment to corporate responsibility. They are revisiting their roles in the community and their policies on environmental sustainability, equality in the workplace, and social responsibility. 

Their goal is to understand their current responsibility posture and how it can be enhanced to more positively impact the communities their businesses serve.

For example, some organizations are becoming involved in low-income housing development, public-private partnerships, Opportunity Zones, New Markets Tax Credits, and impact investing. Others are applying the lessons learned during the pandemic to improve their ability to operate while also supporting local communities and individuals.

As leaders of change, CFOs are in a unique position to drive these initiatives by implementing an environmental, social, and governance (ESG) framework. An ESG model helps organizations monitor the impact of diversity, equity, and inclusivity programs in their workplaces as well as among suppliers and vendors. With the right framework and enterprise-wide visibility, finance leaders can help create a culture in which commitment to social and environmental sustainability elevates a sense of responsibility among employees, customers, and investors.

Meet the team

Keith Denham

Managing Principal - CohnReznick Advisory

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George Gallinger

CIA, CFE, Principal, CohnReznick Advisory, Governance, Risk and Compliance National Director

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Marisa Garcia

CPA, Partner, CohnReznick Advisory

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Bhavesh N. Vadhani

CISA, CRISC, CGEIT, PMP, CTRP, Principal, National Director, Cybersecurity, Technology Risk, and Privacy

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Swami Venkat

CPA, CISA, CFE, ACA, Partner, CohnReznick Advisory Group

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This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.