Today’s corporate finance leaders deliver enterprise-wide value beyond finance. A new survey reveals ways they can improve operations, technology and talent.
f you’re a CFO, you are well aware that the demands of the position have evolved significantly over the past decade. Largely driven by advancements in technology, today’s corporate finance leaders are expected to work more collaboratively with functional areas in their companies. This trend is part of a holistic approach that requires CFOs to contribute data, analysis, strategy, insights and other types of support to improve efficiency, effectiveness and overall performance across the full enterprise.
What most CFOs are not aware of, however, is how their peers are managing expectations, the specific issues they are dealing with and how they are addressing those issues. That’s not surprising given the aforementioned demands of the position.
To better understand this phenomenon and provide more context for the broader role CFOs face today, FTI Consulting's Office of the CFO Solutions practice conducted a survey in collaboration with CFO Research. The survey showed that nearly 90 percent of respondents (including CFOs themselves) said their firm’s CFO currently plays key roles in supporting operations performance management, technology strategy and talent development.
Leading CFOs acknowledge that they must not only report on performance but also positively influence performance whenever possible. The survey provides insights from CFOs into this two-headed challenge. Respondents share thoughts about how engaging with their CEOs — in addition to partnering across the C-Suite — can translate into superior performance for the enterprise. They provide recommendations on managing risk in technology investment and how to bridge the gap between “support” and “impact” in the operations area.
These insights, plus more, showcase a greater opportunity for CFOs to make an enterprise-wide impact in their organizations. Access the full report here.