![]() ![]() I'm FM magazine senior editor Drew Adamek, and I spoke to Ankur recently about how CFOs can create an internal cash culture, how to find opportunity in crisis, and why CFOs should develop a more holistic view of data during the coronavirus crisis.Īdamek: In facing this crisis, what, in your mind, is a CFO's first priority?Īgrawal: I see a CFO's role and priorities in three horizons. He's a co-author of McKinsey's recent report, "The CFO's Role in Helping Companies Navigate the Coronavirus Crisis." Ankur, along with his co-authors, look at the ways that CFOs can drive organisational response to the crisis. The CFO's outsized role in the COVID-19 response comes as no surprise to Ankur Agrawal, a partner in McKinsey and Company's New York office. From shifting revenue streams, to human resources upheaval, to the rush for cash management, all the way to the urgency of scenario planning, the CFO and the finance function are on the front lines of organisations' COVID-19 responses. ĭrew Adamek: The coronavirus crisis has landed squarely in the CFO's office. To comment on this podcast or to suggest an idea for another podcast, contact Drew Adamek, an FM magazine senior editor, at. ![]() Play the episode below or read the edited transcript:įor more news and reporting on the coronavirus and how management accountants can handle challenges related to the outbreak, visit FM’s coronavirus resources page. How adopting a bold transformation mindset around resource allocation can help organisations thrive.Why communication is key during a crisis.Why CFOs need to be front and centre to any crisis response.How to create a cash culture within your organisation and why it is so key to survival.What a CFO’s top three crisis response priorities are.Agrawal shares how CFOs can create an organisational cash culture, the increasing importance of FP&A, and the leadership skills that are most important during a crisis. McKinsey partner Ankur Agrawal talks with FM senior editor Drew Adamek about how CFOs and finance departments can successfully navigate the challenges of COVID-19 while finding the hidden opportunities. Nearly every response to the crisis starts with finance: risk management, cash flow, human resources, IT, and financial planning and analysis (FP&A). The COVID-19 crisis landed squarely in the finance department. ![]()
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