What types of insights can arm a finance leader to play a more strategic role? Join us as Bill Elkin, CFO of Interflex, shares his CFO mind-set and explains how his operational orientation continues to serve him well.
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Growth: The Ah-Hah Moment
“I’ve tried to push very hard to hire people who really understand accounting and people who really understand finance but who are able to connect all the dots and help direct the business and manage the business in a way that really adds value so that we can be — I’m not going to say a profit center but we can certainly be a value center versus just a cost center.”
CFOTL: So, along the way, can you share a story during your finance career when you had sort of an ah-hah moment, a moment of strategic insight that allowed you to influence the direction the firm was taking?
ELKIN: The ah-hah moment for me was really going in on the first acquisition that we made with our first private equity investor, what they were looking for from the finance group. I took on an entirely different role. In a previous acquisition we made before we were privately owned, we basically engaged somebody to do all the due diligence that we felt like needed to be done. But once we had some private equity backers and we were more active in the M&A market, the ah-hah moment for me was there’s really a lot that the finance group can do when going in and looking at all the financial data.