What will shape the role of tomorrow’s CFO?
What are the key influences impacting the future CFO function, and what determines its likely success in a world of significant change? Previous reports from ACCA and IMA (Institute of Management Accountants) have dealt with talent, career paths, the changing nature of the CFO role, technology and big data. Yet by pulling all of these issues together, what do we see as significant factors that will make or break future CFO success?
ACCA believes there are five issues shaping the destiny of the finance function:
- The finance organisation needs to adapt to operate in an environment with greater uncertainty and ensure it doesn’t stop innovation.
- Successful alignment of the finance organisation to the strategy of the business is essential.
- The CFO function has a critical future role to play in getting the enterprise data basics right as a starting point for better decision making.
- Finance leaders will need to prioritise investment in technology to drive growth, and digital technologies will become a core finance leadership enabler in all businesses.
- The CFO needs to understand where the new pool of executive finance leadership talent will come from.
Our report draws on all of our ongoing CFO-focused research and includes highlights of a 2014 survey of 1,631 ACCA and IMA members from around the world.