Like many other financial managers at the time of the outbreak, Trevipai C.F. Oh Joel Campbell He found himself spending a lot of time controlling the company’s latest technology pile to keep the business afloat while the office was closed.

Some argue that this should just fall on the shoulders of the chief technology officer, but Campbell says he sees it differently. For a CFO to be effective, it is important to be flexible and to know all the entrances and exits of the company before and after it – most importantly after the outbreak comes and as we know it puts the brakes on office life. .

In an interview with PYMNTS, he joked, “I don’t own a stack of technology, but I know it’s dangerous.” “As a CFO, it is my job to make sure that I understand the technology stack that supports our product and that the CTO understands the technology that supports financial, legal and other office functions.”

watch out: Going digital is ‘harder than checks’ but is important for CFOs.

Campbell’s sudden arrival has forced the B2B payment provider to update its technology stack as soon as possible. And while modernity may seem different from other CFOs – depending on what they do and what kind of system they are in – they say they have faced many of the same challenges and possible pitfalls.

He said any CFO should look back and take a closer look at each component of the technology, including the planning system, financial reporting system, accounting system or treasury system. After that, they had to make decisions on which systems they urgently needed and which could be left alone for the time being, keeping an eye on all the time and resources.

“In order to move forward, the modern CFO must take a thoughtful approach to looking at their systems, their people and their processes,” he said.

Read more: Today’s CFO ‘all about data’ financial solutions are widely circulated

At the same time, he had to work hard to make sure that the changes he was making were right. According to Campbell, one of the challenges facing many CFOs is that the back office is forced to compete with other parts of the business for tech investment.

This is especially true of small and medium-sized companies, which are often challenged to bring their limited assets to sales, marketing and production, he said. But now fighting for real investments can help the back office support the business wherever it goes.

Campbell said it was appropriate to equate CFO’s challenge with defense, and that the rest of the company was in bankruptcy. To go and what to support when he goes there.

watch out: Donating more hats, CFO should play an important role in business digitization.

Above all, Campbell is responsible for helping the modern CFO lead the company, and to do so, he or she must ensure that he or she is actively involved not only financially but in all areas of business. When he first joined Trevipine, he said his tenure was to take over the financial institution and adjust everything that needed to be done in the right direction for the next 18 to 24 months. To do this, he needed to get involved in every aspect of his business and his services, as well as who his customers were and how they viewed the company.

“You have to be able to focus on finances, but you have to be able to go back and make sure you are in business,” he said. “If you can do this, you are influencing not only the product but also the strategic direction of the business.”


New PYMNTS Data Destroyed 2021 Holiday Shopping Views

In Care Of Time is running out for the holiday shopping season, and nearly 90% of U.S. consumers plan to make at least some of their purchases online – 13 percent more than in 2020. The impact of online sales and product availability and personal rewards on merchant choice this holiday season.