The role of a startup Chief Financial Officer (CFO) goes beyond traditional financial management to creating a roadmap for growth and longevity. “Not only does the CFO role demand the efficient and effective deployment of resources that result in maximum returns – it’s just as critical to design and implement processes to ensure the financial department seamlessly integrates with the Aura’s operations,” notes Patrick Gilbride, Chief Financial Officer at Aura – South Africa’s most effective, accessible and affordable emergency response platform for the security and medical services industry.
Navigating the startup environment and operating in a near constant state of flux is a time of invaluable opportunity for a new CFO. “Financial forecasting in a startup is always the most challenging task. Aura needs to remain as dynamic as possible, and that often requires a complete change of direction. A big part of my role as CFO is to provide a clear picture of the current state of affairs that enables the management team to make informed decisions,” adds Gilbride.
Having credible and effective financial projections is hugely significant to the success of any business, but for a startup it’s the golden thread that drives growth, strategy, and an organisation’s vision and purpose. “Being involved in an organisation that moves quickly and isn’t afraid to make mistakes is the perfect environment for someone who wants to grow as much as possible. I believe Aura is the tool that will bring the security industry into the 21st Century. According to Numbeo’s 2020 Crime Index South Africa is the third most dangerous country in the world. Aura is a solution that can bring every South African the security they deserve.”
Gilbride is the newly appointed Chief Financial Officer at AURA.
Original Source: https://www.africa.com/managing-effective-and-credible-financial-projections-of-a-startup/