Why CFOs Should Care About Energy
Energy is rarely even mentioned by CFOs as one of the top concerns for their businesses... BUT SHOULD IT BE?
and here is why:
Think about it.
Money is usually a top concern for any CFO, and it should be. But if your company couldn't spend money for 24 hours, would it have a massive impact on the business? Yes it would be disruptive and cause a few issues but once the money is available the next day or even a few days later it shouldn't really affect operations too much. Nowadays money is just a few digits in a bank account so no physical issue there.
Now think about ENERGY.
If your business had no access to electricity, heating fuels and transport fuels for 24 hours what would happen?
Computers could not power on. Phones/tablets could not be recharged once the batteries were emptied. Lights would not switch on. Heating would not be available or cooling for those luck enough to be in warmer climates. You could not refuel vehicles to transport people and/or goods. You couldn't cook any food or make any coffees or whatever hot beverage tickles your fancy. Food in fridges or freezers would start to spoil. No television. No games consoles. No music systems or radios. No machines. No much of anything.
In fact, it's quite probably best described as stepping back to Medieval/Game of Thrones times depending on your study of history.
What would most businesses do in this situation.
The answer we have been given is close the doors and come back in when the power is back on.
So should Energy be a top concern for a CFO?Well if managing risks to your business fits into your job description, then Energy should be close to the top of the list for regular review and management.
EnergyElephant helps businesses turn energy data into valuable business insights. Your business energy data is as valuable as your web-traffic data, so are you getting its full value?