Gary McGaghey Reveals the Evolving Role of CFOs

Gary McGaghey is a longtime chief financial officer. Over the course of his career, he has lead the finance department of many leading financial services and investment firms. Today, he still holds this position as the CFO of a leading company. Recently, Gary revealed how the pandemic has made significant changes in the business world and how chief financial officers will evolve during the next few years.

One of the ways in which CFOs will evolve according to Gary McGaghey is that they will be more responsive to pandemics. If there is another outbreak, CFO’s will begin to take necessary safety precautions as well as make financial forecasts ahead of time. This will help businesses more easily manage their finances and avoid closure and bankruptcy in case of another pandemic. Learn more here:

During the recent pandemic, many workers have decided to work remotely in order to remain healthy and avoid getting infected by the virus. Gary McGaghey believes that remote work will be more common among top financial managers. According to McGaghey, many executives in finance will focus on working at home in order to stay healthy and have more flexibility in their lives.

Gary McGaghey also believes that CFOs will begin to arrange finances differently in the near future. They will focus on developing emergency funds in order to cope with pandemics. These professionals will also look to create budgets that are more conservative so that businesses will remain solvent in the future.

As a chief financial officer himself, Gary believes that many of his colleagues will place more emphasis in future planning. They will evolve by making sure that company finances are in order several years down the road instead of the present. With this approach, chief financial officers will be even more knowledgeable and better prepared for any unexpected circumstances in the future.

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