3 September 2012
Skillsoft, an innovative pioneer in the field of learning who provides cloud-based learning solutions for its customers worldwide, announced a new solution created to help managers develop a chief financial officer (CFO) mindset in the management of their departments.
The new series, Thinking like a CFO, provides insights and guidance on applying financial impacts and risk assessments to business decisions. The series all assists managers in their decision making and is founded on solid financial considerations and aligned with the overall goals of the organisation.
Thinking like a CFO is offered through Skillsoft's award-winning Business Skills Library. Skillsoft based the new series on the financial priorities and mindset of a CFO, including growing the top line, keeping fixed costs low and maintaining cash flow needed for paying bills and making funds available for new projects. The series also discusses how to make key organisational decisions involving financing, investments, and risk.
"The CFO plays a paramount role in assisting managers to make decisions and help craft business proposals that tick all the boxes in gaining senior management's support – aligning it with the CFO's skill in financial and operational analysis," said Skillsoft Asia Pacific's Vice President and Managing Director, Glenn Nott.
"Skillsoft has created a valuable resource that teaches professionals how to take the strategic business approach, which is in line with the organisation's financial status and thinking," Mr Nott said.
To start thinking like a CFO, professionals need to understand what the role of a CFO is in an organisation and what is important to them. The first asset in the series, Thinking like a CFO: Mindset and Financial Priorities, introduces the key role, priorities and mind set of a CFO in maintaining profitability, controlling cost, and managing cash flow in an organisation.
The second asset is Thinking like a CFO: CFO Guide to Operations. This asset illustrates, through examples, how CFO mindset and strategies can be applied to common investment, inventory, and financing decisions that managers are involved with. It presents guidelines for managers in creating budgets, and best practices that may contribute to reduced working capital needs.
It also teaches how a request for incurring an incremental cost or making a buy or lease decision could be evaluated from a CFO perspective.
Asset three in the series is Thinking like a CFO: Developing and Presenting a Business Case and it discusses the process, best practices, and key considerations that are important when developing a business case for purchases, projects, and budgets. This asset introduces some of the common financial metrics (payback period, net present value, and risk analysis) for supporting a business case from a CFO perspective.
The fourth asset is Thinking like a CFO: Risk Management and Compliance. This asset presents a CFO's approach in identifying and managing risks associated with managerial decisions and day-to-day operations, and discusses how CFO thinking can help managers manage and comply with regulatory requirements and financial standards.
To learn more about Skillsoft's Business Skills Library and specific products such as the Thinking like a CFO series, please visit http://www.Skillsoft.com/online/fy12/courseware-innovations/?srcID=PR