New Challenges Faced by Financial Professionals
From financial guardian to strategic partner and key advisor on the future direction of the business: the role of the senior finance leader, from CFO to financial director, has come a long way in a short space of time.
To learn more about the changes affecting financial decision makers, we gathered views from 200 CFOs and financial directors from across British enterprise, exploring everything from the roles they perform to the issues that cause them concern.
Key Takeaways from the Finance Department Study:
Overall, we identified 4 trends guiding the evolution of the financial professional:
- Changing roles within the company. Ninety-seven percent of the finance leaders we consulted believe their roles have changed within the past three years.
- Mounting pressure due to lack of resources. Fifty-three percent of respondents think their business will make a major mistake due to strained resources.
- The job has become more challenging. Ninety-one percent of the finance professionals consulted think their job is more difficult than it was three years ago.
- Technology solutions are a key to success. Eighty-four percent felt these tools were critical to fulfilling their responsibilities.
The results of this survey allowed us to derive three key insights about the future of finance organizations:
- Financial leaders must be armed with the right tools and talent
- Business growth and protection are not at odds, but data is key
- Data must be used to manage risk via smarter decision making
No one else can offer quite the same degree of strategic insight as the financial leader. However, the challenges they are now facing, such as being able to respond quickly to local and global events that may impact their businesses, require unique and data-inspired solutions.
Download the Facing Forward study to learn more.