As anyone in a leadership position knows, smaller companies may require their leaders to wear many hats. For Senpex, a California-based fintech that offers an AI-powered algorithmic SaaS product for shipping route optimization, finance is run by someone who knows what they do best, a data expert.
Murad Garashov, who has two titles at his company, head of data analytics and CFO, is looking at the finance leadership role from a unique perspective. A major portion of his time is dedicated to education and upskilling; he is in the process of earning his doctorate in econometrics and quantitative economics at the Azerbaijan State University of Economics and also holds an adjunct professor of data analytics and data visualization position at Azerbaijan Technical University.
While focusing on furthering his education, teaching the latest theories of data optimization, and running the data analytics of Senpex, he is also balancing the company’s finances and setting its financial goals. Although he is much more experienced on the data side of things, Garashov’s desire to grow professionally as a finance leader drives home the importance of avoiding complacency in a leadership role. By growing into the CFO role, Garshov hopes he can combine his skills in data and experience in finance to boost his career.
Murad Garashov
CFO and head of data analytics, Senpex
- First CFO position: 2022
- Notable previous companies:
- Kapital Bank OJSC
- QSS Analytics
- State Oil Company of the Republic of Azerbaijan
This interview has been edited for brevity and clarity.
ZAKI: You have a dual role as data lead and CFO. How do you prioritize both and keep a balanced workflow?
GARASHOV: I prioritize my dual role by focusing on the areas where data and finance intersect. For example, I use data to improve FP&A, identify risks and opportunities, and make better decisions. I also work to ensure that our data is accurate and reliable so that it can be used to make informed decisions.
For CFOs who believe their data quality is poor, what steps can they take to improve and better leverage it?
GARASHOV: CFOs who believe their data quality is poor can take several steps to improve it. Those steps include the ability to leverage data. CFOs should also focus on implementing data quality standards. This will help to ensure that data is accurate, complete, and consistent. They should also be conducting data audits. Those will help to identify and correct data errors.
What new technologies excite you the most? What are your thoughts on things like blockchain technology and generative AI, and their role in the future of corporate finance?
GARASHOV: I am excited about the potential of new technologies to transform corporate finance. Blockchain technology has the potential to streamline financial transactions and reduce fraud. Generative AI has the potential to automate tasks and generate new insights. I believe these technologies will play a major role in the future of corporate finance.
When forecasting, do you prefer short-term or long-term predicting? Why, and what factors make this decision?
GARASHOV: When forecasting, I prefer to use a combination of short-term and long-term predicting. This allows me to take into account both the immediate and long-term financial goals of the company. The factors that influence my decision include the current economic climate, the company's strategic goals, and the availability of data.
What is your biggest goal for the fourth quarter, from both a financial and data perspective?
GARASHOV: My primary objective for the upcoming quarter is to conduct an in-depth data analysis, seeking out patterns, trends, and insights that can guide our decision-making processes. This will involve implementing advanced analytical techniques, predictive modeling, and machine learning algorithms to uncover valuable insights from our data. Additionally, I'll collaborate with cross-functional teams to ensure these insights are effectively translated into actionable strategies.
Where do you see your career trajectory? In an ideal world, would you hold a data or finance leadership position? Why?
GARASHOV: I envision my career path as a fusion of data and finance, where I can leverage insights from both domains to drive strategic decisions. Recognizing the growing synergy between these fields, my goal is to position myself at the forefront of this convergence. Ideally, I aim to secure a role that empowers me to optimize financial outcomes through data-driven analysis and innovative financial strategies.
