Procurement Professional is the official publication of CIPS Australasia

We need procurement's support, say CFOs

08 Mar 2010

Source: SupplyManagement.com, 5th March 2010

Finance directors increasingly need the support of their staff and colleagues as the role of the CFO becomes more strategic.
 
According to a panel of finance chiefs at the Economist CFO Summit in London yesterday, CFOs need to have more confidence than ever in the people who report to them. As they face additional demands as a result of the economic climate, and as they take on responsibility for other functions, they need the heads of those functions to be experts in their fields.
 
“It becomes critical you have great people in place for all the functions you are responsible for. Within supply chain, IT, you’ve got to be sure you’ve got the right people,” said Ian Dyson, group finance and operations director at Marks & Spencer. "My role becomes much more mentoring and high-level guidance.”
 
Chris Lucas, group finance director at Barclays, agreed. He said: “It’s all to do with the quality of people you have around you and getting that right is probably the most important decision that the CFO can make.”
 
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