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CFO as a business partner

Deepak Narayanan, Co-Founder, MyCFO

Deepak Narayanan, Co-Founder, MyCFO

With increasing complexity in the business environment, CFOs need to work closely with key stakeholders in drawing up risk mitigation plans

Every finance department and CFO aspires that the function that he/she leads adds value to the business. Finance and the role of a CFO in being a driver rather than just being a record keeper is now a part of virtually every finance transformation session. Most of us are aware of the role of a CFO in being able to contribute to the company’s strategy, growth, work with cross functional teams, manage and lead board discussions and investor relations and build robust systems. While these are part of the daily discourse on the role of a CFO and also a part of their job descriptions, there are areas where CFOs and finance teams are doing interesting work to improve the effectiveness of the finance function and contribute to the business. Here are my three picks:
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Case study – Hospital care

MyCFO HealthcareOur Client

Hospital Care is amongst the top 10 hospital chains currently operating in India and operates 10 hospitals in Maharashtra with a bed capacity of approx 750.  The chain is Private Equity backed and is in the middle of a significant expansion plan.  Management expectations are for Finance and Accounts (F&A) department to provide visibility on Return on Investments from the new facilities, capacity utilization, hospital profitability and Return on Capital Employed (ROCE).  The Hospital also runs ‘health care delivery’ centers and specialty labs within each of the hospitals that they operate. Continue reading