{"id":8966,"date":"2021-07-07T10:00:21","date_gmt":"2021-07-07T09:00:21","guid":{"rendered":"https:\/\/www.sage.com\/en-gb\/blog\/?p=8966"},"modified":"2026-01-29T09:40:47","modified_gmt":"2026-01-29T09:40:47","slug":"finance-futurists-good-great-cfo","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-gb\/blog\/finance-futurists-good-great-cfo\/","title":{"rendered":"Finance Futurists: Tom Coward on the real difference between a good and great CFO"},"content":{"rendered":"
\n\t
\n\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\tPeople & Leadership<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
\n\t\t\t\t\t

\n\t\t\t\t\t\tFinance Futurists: Tom Coward on the real difference between a good and great CFO\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\t

\n\t\t
\n\t\t\t
\n\t
\n\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\n\t\t
\n\t\t\t\n\t\t\t\t\"Warren\t\t\t\tWarren Knight<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

The Finance Futurists<\/a> are an elite group of leaders who embrace constant evolution as a necessity in the ever-changing world of finance.<\/strong><\/p>\n\n\n\n

More than number-crunchers, these leaders represent a new era for finance \u2013 one defined by a shift from pure analytical expertise to emotional intelligence and strong communication skills as well.<\/strong><\/p>\n\n\n\n

I caught up with Tom Coward, the CFO of Cytora<\/a> and one of this year\u2019s futurists, to get his view on what the future will look like, why it\u2019s important to engage teams with the long-term vision, and what makes the difference between a good CFO and a truly great one.<\/strong><\/p>\n\n\n\n

\n
Download your free guide, The Future CFO<\/a><\/div>\n<\/div>\n\n\n\n

You\u2019re known as the \u2018Informed Communicator\u2019, as likely to be talking about the vision as about the numbers. Tell me a bit about how you got started in finance and how that shaped your view?<\/h2>\n\n\n\n

I first applied to Deloitte at the age of about 16, thinking they were a bank. I knew nothing, but that was the start of my journey, working with them on an internship programme through uni.<\/p>\n\n\n\n

It was a fantastic opportunity to learn what businesses of all sizes, shapes, and industries do, but I knew I wanted to build something myself.<\/p>\n\n\n\n

So, after a few years I left the world of the massive conglomerate to join Yieldify, a marketing tech start-up.<\/p>\n\n\n\n

What were your main takeaways from that experience?<\/h2>\n\n\n\n

It was an amazing opportunity to learn.<\/p>\n\n\n\n

My remit spanned finance<\/a>, legal and recruitment. Sometimes they get seen as support functions, but in reality, they drive the business.<\/p>\n\n\n\n

For example, as CFO you are responsible for culture, and if the culture isn\u2019t right it quickly has an effect on the customers.<\/p>\n\n\n\n

I think that when you\u2019re looking at fast-scaling of a high-growth business, it\u2019s tempting to think you have to get everything perfect. But sometimes you just have to move really quickly, and it\u2019s more important to get it done than get it perfect.<\/p>\n\n\n\n

There\u2019s one big exception to that, though, which is when you\u2019re hiring. It\u2019s crucial to get the people right<\/a>. Hiring and onboarding new staff is expensive and getting the culture right from the start is vital.<\/p>\n\n\n\n

We used agencies for senior hires and a small, in-house team for others. But actually, the best and most engaged people \u2013 the best mindset \u2018fit\u2019 \u2013 often come from referrals.<\/p>\n\n\n\n

They\u2019re pre-vetted, really, and already engaged with the culture. It also saves you a fortune in agency recruitment costs.<\/p>\n\n\n\n

So, getting the people right is one, what\u2019s next?<\/h2>\n\n\n\n

A customer focus, making sure your offer is really \u2018sticky\u2019.<\/p>\n\n\n\n

What do you mean by sticky?<\/h2>\n\n\n\n

Looking back, we got a bit lost in the middle ground of our market, caught between the top-end providers and the cheap \u2018do most of it yourself\u2019 options.<\/p>\n\n\n\n

Our customers would be on board with us for maybe six to 12 months, but then it was too easy for them to switch \u2013 either trading up, or down.<\/p>\n\n\n\n

You need to make sure what you\u2019re offering is really sticky, so that your customer base is going to stick around.<\/p>\n\n\n\n