In today’s corporate landscape, the role of the Chief Financial Officer (CFO) is evolving beyond traditional financial responsibilities. Agustin Correa, the CFO of Wunderman Thompson Colombia and Central America, is a prime example of how finance professionals are redefining their roles to make broader contributions to their organizations. With over a decade of cross-functional and global experience in various industries, including advertising services and consumer goods, Agustin has demonstrated that the CFO can be a catalyst for transformation and corporate success.
Expanding the CFO Role Beyond Finance
One of the most significant shifts in the corporate sector is the recognition that CFOs can contribute to the firm in ways beyond accounting and taxes. While financial expertise remains the foundation, modern CFOs are increasingly involved in strategic decision-making and execution. Agustin Correa understands the importance of aligning financial strategies with broader organizational goals, emphasizing that CFOs should view themselves as drivers of strategy and growth.
In the new normal of business operations, CFOs must be well-versed in financial planning and strategic flexibility. They are entrusted with identifying immediate and long-term solutions to challenges, streamlining internal processes, and developing strong vendor relationships to ensure supply chain resilience. This multifaceted approach requires CFOs to embrace emerging technologies, such as artificial intelligence, data analytics, and robotic process automation. They must also leverage financial business analytics, risk management systems, and new collaborative business models to thrive in a rapidly changing environment.
The CFO as a Trusted Partner
CFOs play a critical role in building trust with investors. To establish strong investor relationships, they must employ logical thinking while maintaining honesty and empathy in their interactions. Additionally, demonstrating a positive attitude toward collaboration and actively listening to create solutions together can pave the way for successful relationships. These bonds can contribute to the growth and stability of the organization.
Agustin Correa’s Journey in Finance
Agustin’s journey into finance began when he worked in the Financial Planning & Analysis (FP&A) department for the first time many years ago. He was immediately struck by the department’s extensive involvement in various finance decisions, from tax strategies to cash management, as well as its connection to accounting, audit, and procurement. He realized that a career in finance, combined with a deep understanding of different business areas, could propel him to the next level. This path would allow him to comprehensively comprehend the implications of various business decisions and articulate strategies with concrete execution milestones, not only impacting the bottom line but also the top line.
Throughout his career, Agustin has gained progressive experience in financial and business roles, working across multiple sectors in Latin America. His international responsibilities in Europe exposed him to diverse cultures and perspectives. His career journey includes roles in the retail, advertising services, and sports goods industries, where he developed a holistic understanding of business operations.
Wunderman Thompson: Transforming Brands for a Better Future
Agustin Correa currently serves as the CFO of Wunderman Thompson Colombia and Central America. Wunderman Thompson is a multinational organization with a presence in 90 countries, part of the WPP Group, and it aims to be a growth partner consultant business for its clients. The firm serves a diverse clientele with needs ranging from athletic goods to automobiles, pharmaceuticals, consumer goods, tobacco, entertainment, crypto-financial, and social media.
Wunderman Thompson is redefining marketing and advertising solutions by embracing creativity, data, and technology. The company focuses on evolving brands at the speed of culture to meet rising consumer expectations and disruptive technologies. Agustin emphasizes the importance of brands facilitating people’s needs rather than simply showcasing their own qualities. Under his leadership, Wunderman Thompson Colombia has transformed its approach to marketing and advertising, aiming to positively impact people’s lives through its client relationships and solutions.
Agustin Correa’s Impact on Wunderman Thompson
Since joining Wunderman Thompson in 2018, Agustin Correa has played a pivotal role in restructuring and transforming the company. He led cultural transformation efforts and developed a clear vision for the business. This vision emphasized the importance of talent acquisition and skill development in building the business of the future.
Under Agustin’s guidance, the company divested from complex stakeholder and legal entity structures, focusing on a unified vision driven by talent with martech capabilities. This transformation resulted in a more diverse, agile, and streamlined business. The company experienced significant improvements in profit margins, cash generation, net sales, and operating costs. Wunderman Thompson Colombia has become a globally recognized creative company, ranked among the top 10 fastest-growing and most profitable offices in the world.
Challenges and Opportunities in the Finance Sector
Agustin Correa acknowledges that doing business in the new normal presents challenges that underscore the need for accurate and strategic financial planning. CFOs must work closely with organizations to identify solutions to extraordinary difficulties, such as streamlining internal processes and strengthening vendor relationships. They must also embrace emerging technologies to make informed decisions and navigate a rapidly changing environment. The role of the CFO extends beyond financial expertise; it encompasses leadership, behavior, and culture. CFOs must build relationships across all levels of the organization and share their business perspective to become financial propositions in various areas of knowledge. They must also focus on creating key performance indicators (KPIs) that blend operational and financial insights to support informed