CFO’s Need To Be Digital Pioneers

CFOs need to become ‘digital pioneers’ to elevate their position and lead business change according to latest research that highlights the changing role of the CFO. Family businesses need to take note. Chief Financial Officers must embrace technology to future-proof their position and drive digital transformation in their organisation. This is according to a white paper, entitled the ‘The Connected CFO – a company’s secret silver bullet?’ produced by leading software provider, Advanced. The paper highlights a recent KPMG survey which found that 63% of CEOs believe that the CFO’s role will increase in significance over the next three years, compared to other C-suite positions. However, only one in three of those surveyed felt that their CFO was up to this challenge. As many finance tasks become automated, technology is changing the role of the CFO by enabling them to spend less time on gathering and comparing data, and more time on high-level, strategic activities. Previously regarded as just the financial gatekeeper of the organisation, analytics tools and big data present CFOs with an opportunity to elevate their position by establishing themselves as digital pioneers and business enablers.