“CFOs will need greater transparency across all areas of the organization beyond just finance.”
The role of the CFO continues to evolve in today’s dynamic, ever-changing business environment and driving the strategic agenda. CFOs are increasingly being called upon by their CEOs to play a more significant role in driving strategy, growth, and operational excellence in their organizations.
They are also being asked to collaborate with business partners across the enterprise and provide insights—beyond just the numbers—that will help inform decisions. According to the KPMG Global CEO Outlook survey, more than half of global CEOs report that the CFO is the function that will gain the most important in the next three years. This expanding role will be shaped by a constantly changing and fiercely competitive business landscape. Looking ahead, there are four business priorities that will significantly impact the focus of the CFO and strategies for driving the company forward: growth, the regulatory environment, business insights, and continuous innovation and change. These priorities will challenge CFOs and finance organizations to re-evaluate how they work and the technology they use, and drive the evolution of their financial systems to deliver the capabilities and tools they need to succeed. Here is a look at the impact of these priorities on the CFO and finance organizations, and why they are moving to cloud-based finance systems to better help them support growth, change, and innovation.
CFOs will be challenged with increasingly complicated questions to help them plan, such as:
- How are customer demands evolving and what new channels or capabilities are needed to meet these demands?
- Should the company acquire, merge, or divest and how is that done successfully?
- What is the best talent strategy for entering a new market? To make these decisions, CFOs will need greater transparency across all areas of the organization beyond just the finance function- with insight into operations, customers, talent, and financials.
Check out this article which highlights four business priorities that are greatly impacting the focus of CFOs. Download your guide here.
Recommended For You-