Traditionally, CFOs focused on the numbers, and their success was primarily based on whether they achieved their company’s revenue growth goals. However, today, the role of the CFO has evolved far beyond a company’s numbers and revenue to where the CFO now serves as a strategic business partner and right-hand person to the CEO. Modern finance leaders are expected to take a forward-looking approach and help manage the unexpected and uncertainties. According to our recent CFO Insights report, 90% of senior finance leaders agree that their key task is to prepare their business for the unexpected. 1
As companies expect to see some challenges – inflation, geo-political volatility, increased costs for capital – continue to impact their business in 2024, we asked CFOs and finance leaders from different industries and regions about their top priorities for the upcoming years and beyond. Here are just few examples that CFOs shared with us:
“In today’s business environment, it’s important to get back to the basics. CFOs used to not have to know the business. But now, they have to get into the detail of the company and each market it serves and have a very broad sense of business acumen if they want to drive profits and growth.”- Benoit De Saeger, Regional Director, CFO, Terumo
“My top priority is bringing value to our customers by supporting our teams and investing in digitization and people management. People need to understand how technology will benefit everyone. It’s challenging to balance both short- and long-term priorities.”- Tamara Dzule, VP Finance/CFO Brazil, Mastercard
“Every organization I speak with is looking for a CFO with a track record of leading transformation in their organization. And not just technology — they are expected to embrace not only emerging technologies but manage the related transformations of people, processes, and systems.” Cathy Logue, Managing Director, Global Practice Leader, CFO and Financial Executives, Stanton Chase
Download the eBook to learn details about each priority and how CFOs and finance leaders plan to navigate through 2024 and beyond to ensure sustainable financial growth for their company in the years ahead.
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Source 1: CFO Insights Report: A New Role in Managing Uncertainty