Gomathy Periathiruvadi, the CFO of Alita Systems, is redefining the traditional role of the chief financial officer by using technology and data to drive financial vision and objectives. With a focus on building the fintech company debt-free and increasing sales from $0 to $80 million in just three years, Periathiruvadi emphasizes the importance of collaboration with the CEO and other executives to implement strategic plans.
By redefining finance as a profit center instead of a cost center, CFOs can unlock untapped potential for increasing profitability, generating income, and optimizing costs. Periathiruvadi encourages CFOs to think creatively about building new revenue streams and improving cash flow by integrating financial functionalities into products. By adding value for customers and establishing ongoing revenue streams, CFOs can play a key role in driving the success of their organizations.
In today’s rapidly evolving corporate environment, successful CFOs must embrace new technologies and skills to stay ahead of changing laws, markets, and technological advancements. Periathiruvadi highlights the importance of leveraging tools like generative AI to analyze data, derive insights, and make informed strategic decisions. By embracing new technologies and fostering a culture of experimentation, CFOs can better predict market trends, understand consumer needs, reduce risks, and seize growth opportunities.
Encouraging a CFO mindset among team members is essential for driving profitability and cost-effectiveness within an organization. Periathiruvadi shares her experience of thinking like a CFO even before taking on the role, emphasizing the importance of proactively seeking opportunities to provide value, learn new skills, and conduct data analysis. By encouraging all team members to think like CFOs and consider how they can benefit the company and its clients, CFOs can cultivate a culture of strategic thinking and value creation.
Prioritizing transparency is another key aspect of the evolving role of the CFO. Periathiruvadi believes in breaking down barriers between finance and other departments to build trust and confidence. By communicating openly about the company’s performance and aligning functional teams towards shared objectives, CFOs can foster collaboration and drive organizational success.
The evolving role of the CFO represents a paradigm shift in finance departments and organizations, emphasizing the importance of strategic partnerships and value creation. As a member of the Forbes Finance Council, Periathiruvadi highlights the need for CFOs to continue seeking opportunities to leverage their expertise beyond traditional finance functions and demonstrate their value as revenue generators and value creators. The invitation-only organization is dedicated to executives in successful accounting, financial planning, and wealth management firms, providing a platform for sharing insights and best practices in the field of finance.
