Not many years ago, the most important task of CFOs was to ensure reliable, rules-compliant management of companies’ business administration and financials. In the course of doing so,
they also provided some reporting and decision support on-demand to the CEO and other executives. That sounds almost quaint today.
Ensuring success with integrity and resourcefulness
Across industries, today’s CFOs play a leading role as the prime strategic partners for executive stakeholders. More than any other executive, CFOs have gained influence and authority. They can muster the resources and information to help company leaders understand and respond to the opportunities of growth and the pressures of compliance.
Many CFOs are as much the public face of the company as the CEOs. Their words and actions can have substantial consequences.
Technology needs to step up
Modern CFOs are no longer confined to the execution of organizational goals. They are expected to use their fact-based insight as they participate in key decisions and contribute to their company’s strategic direction. The finance teams that report to them are still expected to provide business performance and financial information to business leaders. CFOs and their finance
business groups cannot meet these expectations without the sophisticated use of data assets and digital business infrastructures.