24th May 2016
Highlights of research The Future of the Finance Function Survey 2016 released today by the FSN Modern Finance Forum suggests that the CFOs role is overhyped and full of contradictions. For the most part CFOs are still bogged down by their traditional accounting role with insufficient time to devote to value creation or nurturing their finance teams. The research was conducted amongst the 46,000 members of the FSN Modern Finance Forum on Linkedin and represents one of the largest surveys of its kind.
“While many CFOs have travelled a long way on the modern finance journey, our research shows that there is a significant gap between perception and what is happening on the ground. CFOs are struggling to find their equilibrium between their traditional role as financial steward and guardian of corporate assets and the new demands of business partnering, strategic advisor and technology influencer,” says Gary Simon, FSN’s chief executive officer and the leader of the Modern Finance Forum.
“On the one hand CFOs of the future expect to be more influential in decision-making, technology and data governance but on the other hand around a third rely on gut feel rather than hard data, two thirds admit they have not mastered the volume and variety of business data and a similar number neglect innovation and process improvement. Disappointingly more than half of all CFOs say they don’t spend enough time on business partnering,” he added.
view now »