Focus on Finance: Executive Insights for Chief Financial Officers (CFOs)
Q&A with Peter Bower, CFO
Insights for Chief Financial Officers: Every quarter, we’ll present insights from top executives from different backgrounds and functions. To help you prepare for Q2 2021, here are finance insights from Peter Bower. Peter is a CFO and member of the Cerius network.
What are the business struggles you see in operations right now?
The biggest struggle my clients are currently dealing with is having to work through the effects of the COVID-19 pandemic, especially in the construction industry. The PPP (SBA Paycheck Protection Program) and the EIDL (SBA Economic Impact Disaster Loan) have helped significantly, even though managing the administration and forgiveness application process (CONFIRM) has proven to be a little time-consuming. The good news is the economy seems to be coming out of the effects of the pandemic and the delays are now starting to lessen.
What are your top tips for CFOs in 2021? Why?
My recommendation is to stay vigilant and monitor your marketplace as things improve. Different industries will emerge at different rates, and it will be very important to monitor the progress carefully to take advantage of opportunities as they arise.
What’s your favorite piece of advice—guidance that you go back to time and time again?
My favorite piece of advice is, “Monitor things very carefully and use common sense going forward.”