Profitability and progress: empowering underrepresented voices in finance with Oana Labes

In a recent conversation between Leafin’s Kate Swanberg and Oana Labes, the president at Fincerio, they discussed the role of strategic finance in organizations and how the finance and accounting industry can open doors for women and immigrants. Watch their full conversation at the bottom!

Profitability as the means to an end

Oana emphasizes the importance of strategic finance in business growth, highlighting that profitability is not a strategic objective, but a means to an end. She says, “Profitability is not a strategic objective; it’s a means to an end that enables strategic objectives.” Companies need to determine the minimum level of profitability required to achieve their strategic objectives — like an exit or equity value growth — and create a plan for execution.

Opening doors for women and immigrants in Finance and Accounting

When asked about improving opportunities for women and immigrants in finance and accounting, Oana shares her perspective as both an immigrant and a woman in the industry. She believes that anyone entering a new system needs to be open and coachable, and willing to assimilate into their new environment.

Gender diversity in finance

Oana acknowledges the male-dominated nature of finance and accounting, especially at the top tier ranks where decision-making occurs. She advises women looking to enter the field to remember the power in being a minority: “If you’re going to be outnumbered, make sure you’re not outworked and outsmarted.” By staying sharp and confident, women can ensure that their unique perspectives are heard and valued.

Conclusion

Oana’s insights into strategic finance and the role of women and immigrants in finance and accounting highlight the importance of adaptability, hard work, and determination. By understanding the dynamics of profitability and embracing the power of being a minority, women and immigrants can create a more inclusive and diverse industry.

Watch Kate’s full conversation with Oana :