Paul Harrison assumed the position of Chief Financial Officer (CFO) at AutoStore, a pioneering technology company renowned for its innovative order-fulfillment solutions, in September. Established in Norway, AutoStore’s mission is to optimize the storage and retrieval of goods to achieve maximum efficiency. With operations spanning 50 countries worldwide, AutoStore has established itself as a trailblazer in the industry, boasting a distinguished client base that includes prominent retailers such as Decathlon, Asda, and Puma. Prior to joining AutoStore, Harrison held the CFO role at Just Eat and the Sage Group, bringing a wealth of financial leadership expertise to his new position.
In a recent interview with Global Finance, Harrison shared his insights on his diverse CFO background and the crucial role of financial stewardship in a rapidly evolving business landscape. When asked about the common thread across industries he has worked in, Harrison highlighted the versatility of the CFO skill set across diverse sectors, emphasizing his recurrent involvement with technology and growth-oriented companies.
In response to inquiries regarding managing interest rate fluctuations in a rapidly expanding company, Harrison emphasized the need to strike a delicate balance between short-term challenges and long-term considerations. He stressed the importance of taking broader macroeconomic influences into account while effectively managing the current landscape to safeguard the elements crucial to the company’s long-term success, particularly in a market where only 20% of warehouses utilize their level of automation.
Addressing the evolving responsibilities of a modern CFO, Harrison acknowledged the shift from a predominantly back-office role focused on financial control to that of a strategic partner sought out by CEOs for insights and contributions across various facets of decision-making. It has become imperative for CFOs to actively engage with stakeholders, including investors, clients, customers, suppliers, employees, and shareholders, to provide a well-rounded perspective and effectively support the CEO.
Discussing the significance of environmental, social, and governance (ESG) matters, Harrison underscored the importance of delivering significant efficiency to customers through cubic warehousing, enabling them to operate with smaller warehouses and reduce their environmental footprint. He affirmed AutoStore’s commitment to contributing in this aspect and foresaw this dedication continuing in the future.
Reflecting on the current challenges facing executives, Harrison candidly shared his concerns about the unpredictable nature of today’s world, characterized by the impact of the pandemic and challenging geopolitical and macroeconomic conditions. He emphasized the need for a proactive approach of looking ahead and preparing the organization to effectively tackle unexpected shocks. This involves continuous reflection to ensure that the finance function aligns with the future business landscape and is capable of addressing future challenges that may arise in the coming years.
In his capacity as CFO, Paul Harrison provides a unique perspective on the dynamic and multifaceted responsibilities of financial stewardship in an ever-changing business environment, tackling challenges with a strategic, forward-thinking approach.
For businesses seeking to thrive and make a lasting impact, the insights shared by Harrison serve as a valuable guide in navigating the complexities of modern financial leadership.
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