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Interest rates may finally head higher, workers may be tougher to find, valuations pricier, and consumer spending more robust. “The question is … what [technologies] work best for our particular business model,” Settersten says. One facet of the opportunity is that new features on its websites will tighten “the agent-buyer partnership as they try to make a purchase in the hot market.”. And after some paydowns, the company’s outstanding debt is below $1 billion. For example, Logitech bought Jaybird (audio devices) in April 2016 and ASTRO Gaming (gaming headsets) in July 2017. “I will create a procedures manual for my position and share it with my coworkers.” That’s a snapshot of Specialized Bicycle Components, a maker and distributor of bikes and related products, as it existed roughly three years ago. Wherever money is involved in a company, so is the CFO, which is why virtually every decision in every area of a company requires some attention from the CFO. Next year promises to be an exciting (and, possibly, very critical) year for many companies. They have to gather the information, set the targets, meet … Both comments and pings are currently closed. Strategic Planning While CFOs may monitor both short-term and long-term objectives The markets for titanium technologies, fluoroproducts, and chemical solutions are headed for growth in 2018. Take New Year’s resolutions for example. Or, as CFOs know all too well, none of that may happen. “We want not only crisp execution but also timely decision-making. Sure, considering that the company is six years into an epic turnaround effort and has been at the brink of bankruptcy several times. A potential corporate tax cut in the United States could boost many companies’ bottom lines. Financial Management focuses on decisions relating to how much and what types of assets to acquire, how to raise the capital needed to purchase assets, how to run the firm so as to maximize its value. Logitech, a $2.2 billion revenue company, aims long-term to deliver non-GAAP gross margins in the range of 35% to 37% and raise non-GAAP operating margins toward the high-end of its target of 10% to 12%. It takes more than Math skills to become a CFO. Six CFOs from diverse industries reveal their top business objectives for 2018. An asset bubble could pop. By doing that, Zillow could boost agent membership in its “Premier Agent” ad sponsorship program, which brought in about 70% of the company’s $282 million in third-quarter revenue. “During 2017, we were a little conservative with the expansion of our sales force, so as we move into 2018 we’re evaluating [spending more on it],” Philips says. They are vital in providing financial leadership and aligning business and finance strategy to grow the business. Asked to characterize how he sees 2018 playing out, Scott Settersten, the CFO of retailer Ulta Beauty, uses the words “dynamic” and “exciting.” But Settersten chooses more measured terms to describe the essence of his job in the forthcoming year: “It’s a question of being able to balance the growth levers of the business versus the core of keeping the lights on.”. “I’m building a separate structure that sits outside financial planning, so as to drive a culture of data and an understanding of that throughout the organization.”, That, he says, is “subtly different even from what we had at Nike, which looked at a lot of data within traditional planning functions. 5. The choice is highly dependent, of course, on the businesses they run. Higher margins allow Logitech to invest in its five core capabilities — engineering, design, operations, go-to-market, and marketing. The CFO is key to execution of “real operational and financial options” for shifting the product market mix, delivering value, and creating distinctive capabilities. In order for every level to have success, the person at the top needs to have a strategic vision for the company and clear steps on how to get there. Things have changed at Specialized in the interim, especially in the structure of the 43-year-old company, which currently has about 1,600 employees and $1.2 billion in annual sales. During the first six months of its 2017 fiscal year, Ulta’s net sales increased about 22% and its net income surged 33%. S.M.A.R.T. CFO/Controller Resume Summary : A respected executive with 18 years of management experience in global, high technology, construction and retail based companies in both private and public sectors. “Today our business unit leaders understand that when we talk about capital invested, it’s not just the fixed assets; it’s also working capital,” Newman says. Or populist politics could cause a Western nation’s economy to seize. There can be little doubt that the housing market has remained red hot, with September marking the 67th straight month of year-over-year price gains. CFOs are typically responsible for making a wide range of decisions with regard to … “One of the things we are testing right now is an instant-access platform where a potential home seller can connect with a real estate agent and talk to that agent about listing their home,” the finance chief notes. For example, Specialized had been paying Google more than $1 million a year for search-engine-optimization services without really knowing if it was getting its money’s worth. But, overall, despite the risks, it is a good time to be a chief financial officer. A years-long driver shortage is forecast to get worse, although that’s not a bad thing if a trucking company wants to raise prices, because it essentially functions as a limit on supply. If Vincent Pilette, CFO of Logitech, has a mantra, it is “spend less, grow faster.” But a ruthless cost-cutter Pilette is not. Given that the finance department handles a company’s funds, the CFO may, for instance, work toward maintaining positive working relationships with banks. An organization that produces and delivers a product or service while balancing the needs of shareholders, employees, and customers. “Most of those individuals have owned a traditional distribution or retail business, and they don’t necessarily see the value in it,” he says. “But I’ve been sending some of the data-team members to work with those leaders, and they’re starting to see the impact on generating new ideas and understanding not just the traditional finance data but what’s happening in the broader marketplace.” — D.M. The company’s shares marched up steadily in 2017, reaching a price-to-earnings ratio of 34.4 in November. The company’s agreement with the International Brotherhood of Teamsters expires in March 2019, but for all practical purposes there’s little Fisher can do to prepare until she’s able to assess the results of labor negotiations by key competitors. Download Sample Resume Templates in PDF, Word formats. So how do we put the “plan” back in strategic planning? Interest rates may finally head higher, workers may be tougher to find, valuations pricier, and consumer spending more robust. However, a number of elements, like the ability to order a bike online and pick it up at a Specialized dealer location, are not yet built. With the changes triggered by online commerce that are sweeping through retail, “we don’t want to be left [in a mall] by ourselves” the finance chief adds. But the goal is not data analysis per se. Of course, funds go to products that are well-positioned in growing markets and where market share can be gained. “Someone at our investor conference asked us, ‘If someone gave you $500 million, what would you do with it?’ We immediately said we’d invest in revenue equipment,” says Fisher. — David McCann. “We view it as an opportunity,” she says. on Saturday, October 8th, 2011 at 2:11 am and is filed under Financial Management. What do CFOs have at the top of their to-do lists for 2018? 50 Broad Street, New York, N.Y. 10004. From a financial standpoint, what the $4.7 billion shipper wants most in 2018 is to continue boosting its yield through price increases. Not that growth isn’t a priority, too — the company’s businesses are what Newman calls “highly investable,” and Chemours is forecasting greater capital expenditures in them over the next couple of years. To find out, we interviewed the finance chiefs of six mid-size to large U.S. organizations. Going into 2018, though, the investments will be about “adjusting [Logitech’s] processes and tools to continue to make better decisions and improve performance,” Pilette says. “We’ve put in place true regions, true regional leadership, new functional leadership, and within the last 12 months, for the first time, a long-term strategic plan,” says Rupp, who moved up to the CFO chair in March 2016. “This year, we’re finally back on track with growth.”. For example, consider a multidivision company with common Chemours is also slated to take out an additional $150 million in costs. Concurrently, Rupp is overseeing the creation of a dedicated data team that will be looking not just at financial data, but point-of-sale data, data from website visits, retailer inventory data, and other information. Their choices, which are probably shared by many organizations, reflect the kind of year we are headed into: one full of promise for many sectors, but also one heavy with uncertainty. 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