When talking about the role of a chief financial officer in a company, strengthening the company’s financial status is what we all know. But, in our ranking, we flipped the coin and checked the other side. While brainstorming for the best CFOs in 2022, we found that the CFO’s role has dramatically changed in the throes of the pandemic. The focus of CFos in India has rapidly shifted to crisis management from long-term responsibilities such as organisational changes, cash management, and strategic leadership.
After years of cost-cutting and asset planning, companies are now investing for their growth – and counting on CFOs for the same. Chief Financial Officers performed admirably well in 2022. Whether it was strategic financial planning to prevent financial crises or partnering with chief executive officers to develop new business models, we have filtered the top CFos in India.
To appreciate and acknowledge their accomplishments, we ranked the best CFOs in 2022. However, narrowing down just ten top CFOs 2022 was a tough decision. We prepared our list based on the similar characteristics, qualities the participants have and then listed the top CFOs 2022.
Ready to know who the best CFO in 2022 is? Let’s catch them then.
Table of Contents
How We Ranked The Best CFOs in 2022
We shortlisted and ranked the top 10 CFOs in India based on the following qualities, primarily, their preparedness and response to the pandemic.
Financial foresight is a unique aspect that makes a CFO win or lose. Whether starting or running a business, the risk is inevitable, and analysing it is essential. In ranking the best CFOs in 2022, we focused on masters with qualitative, time and projection forecasting techniques.
A CFO must be aware of the internal and external threats to the organisation. It helps in laying down a crisis management plan, which helps overcome the challenges, maintain reputation, keep costs in check, and meet all regulatory compliances.
It is one of the critical responsibilities of a CFO to effectively relay the accurate financial report to the company’s CEO and stakeholders. On the list, we have some of the top CFOs who know how to communicate positively, regardless of the company’s economic condition. Communicating analytical insights with prospective partners and CEOs ensure strategic & healthy business functions.
We previously ranked the best HR leaders in 2022, and confidence was considered an assisting aspect of being a leader. While ranking the top 10 CFOs in India, we found that credibility is required beyond healthy financial functions. It enables CFOs to make crucial financial decisions on behalf of the company.
Accounting & Financial Competencies
The primary goal of a CFO is to advance the company’s finance with strategic financial decisions. It comes with a deep understanding of the business. The more you’re into business operations, the better you will know about the complications of sales & marketing, R&D, and vendors. In our ranking of the top 10 CFO in India, you will see experts holding decades of experience in their field.
Strong Analytic Focus
Analysing financial statements to ensure healthy financial functions for the company is an essential responsibility of the CFO. On the list of best CFOs in 2022, we have those who have a clear vision to build a well-rounded projection of the business. It is essential to protect the business from inappropriate expenditures and extra charges.
In today’s evolving market, customer experience is a must-have. As an essential part of the company’s engagement strategy, a CFO must understand and infuse customer experience strategy into various functions across the organisation. However, the top CFOs are those who put the customers at the centre of the company’s economic climate.
Risk analysis is among the most crucial traits we consider while ranking the best CFOs in 2022. Advanced financial analysis skills and the strength to deliver critical data ensure long term stability and effective resource allocation. From the regulatory compliance to the IT team to meeting strict trading terms, a CFO has to analyse and develop the best solution.
In today’s technologically evolving world, a CFO needs to be tech-savvy. A CFO must be able to positively modernise the communication and functions within the organisation to maintain stability in the ever-changing economic climate. Successful CFOs on our list have been working on Machine Learning and AI-based tools to bring innovation and strengthen the company against unpredictable changes.
A CFO needs to possess leadership traits to confidently delegate and monitor financial operations within the company. An innovative CFO can motivate the team, articulate ideas and establish collaborative skills. These qualities come with emotional intelligence, self-awareness, motivation and empathy.
Since CFOs are considered strategic coaches in strategy development and innovative financial executives, they must be confident to formulate and execute the strategies that transform the organisation at a core level.
Based on the qualities, we shortlisted the ten best CFOs 2022. They are all from different industries but have been doing exceptionally good, in risk analysis and crucial management.