Executive summary #CFOReimagined Key findings: CFOs and their teams continue to make What’s more, this pivotal moment in the evolution of the a conscious and radical repositioning finance function is characterized by three main themes: of their role, the work they do and • Digitizing finance and harnessing the power of data: CFOs continue to how they do it. automate routine accounting, control and compliance tasks. They are increasing The evolution of the CFO’s role is their focus on value creation as digital technology empowers them to shape strategy. As a result, they can increasingly be relied upon for higher-level thinking, being driven by five forces: answering new questions in new ways and bringing the C-suite together to act • Increased expectations: boards, CEOs and on insights gleaned from data analysis. enterprises overall expect and need more from CFOs. • Leading digitalization efforts: CFOs play a critical role in the digitalization of • Pace of change keeps accelerating. their enterprises, with most starting in their own departments. In a virtuous circle, the data capabilities CFOs develop can help them make decisions about investing • Pressure to show growth and profits is constant. in digital and technology across the enterprise based on economic value, which • Power of data: there is a data-volume explosion, in turn empowers them to generate and combine even more useful data. requiring both focus and new capabilities. • Developing future finance talent: CFOs need to shift their hiring and talent • Expanded control and compliance expectations: development criteria so the next generation of finance leaders—who will more driven by regulation and consumer expectations. than likely follow different career paths than previous generations—can flourish in this expanded role. Knowing how to collaborate and innovate are requisite traits of the new CFO. Meanwhile, current CFO and senior-level finance professionals are gaining expertise at a faster rate than the overall function, creating a skills gap that must be addressed. 7 The CFO Reimagined: from driving value to building the digital enterprise