Managing the cash that flows in and out of your business is an important part of the finance function and is one of the key components that could be the difference between success and failure of your company.
For many, the CFO in a company has long been considered as the bean-counter (albeit the chief bean-counter). And in the past that’s been true. CFOs are nearly always accountants with responsibility for the core traditional finance function in the company – financial statements, monthly management accounts, cash management, compliance, that sort of thing. So it’s a highly specialised and professional role that requires the individual to be qualified and experienced.
In January 2018, the Irish SME Association (ISME) released the results of a General Data Protection Regulation (GDPR) survey it undertook with its members. It made for interesting reading. Why? Well it appears that while 83% of the 507 respondents are aware of GDPR and 76% are concerned about it, only 30% have identified the actions they need to take, and even less - just 7% - have completed their GDPR plan.