8SEPTEMBER 2023OPINIONIN MYFINANCIAL RESTRUCTURING WITH DIGITALIZATION AND SUSTAINABLE DEVELOPMENTBy Sabrina Maggio, Chief Financial Officer, BICAs the chief finance officer at BIC, Sabrina Maggio is responsible for providing market insights and supporting Supply Chain Management for BIC. As a CFO for over three years, she held various roles, including operations and ERD controlling, new business evaluation,price and costing, and internal controls over the years.How does the pandemic have affected the role of the CFO in the financial service industry?After the disruptive impact of COVID, followed by the supply chain crisis, the role of finance business partners and CFOs has changed significantly. This change has brought an evolution in the communication role between CFO and internal clients. Amid this critical environment, the value a CFO can add is to anticipate and develop real-time adjustments and quick reflexes for a range of possible scenarios. To add value to the approaches taken against the challenges, the CFOs must have a thorough understanding of the business model and be able to communicate the financial information clearly and concisely. I see an evolution of the CFO as a powerful leader for the people within the organization.What are the economic and ecological challenges plaguing businesses from sustainability and growth?The economic and ecological challenges are aligned and affect the company's cash margin and environmental footprint. The economic challenges, including inflation and supply chain disruptions, can be dealt with by increasing decentralization and local sourcing. Similarly, businesses can implement risk management and improved eco-efficiency strategies to reduce their environment footprint. To address both these challenges, companies require powerful data architecture and necessary KPIs to support the financial system to find a sustainable solution. The strategies to protect product margins and ensure resource availability are aligned with the strategy to improve cost efficiency and reduce environmental footprint. Innovation can also play a significant role in designing products that are cost-effective and sustainable while positively influencing both economic and ecological KPIs. However, investing in powerful data architecture is also necessary for sustainable development, which will allow companies to find the right KPIs and scientific data. How do you ensure sustainable business growth in your organization?I consider the finance sector as the point of intersection in the organization, connecting cross-functional teams and the entire organization while also assisting the end-to-end business process. We work as an effective channel that streamlines information and maintains alignment, ensuring that all members are aboard.Sabrina Maggio
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