CFOs are bridging the gap between long-term strategic thinking and short-term tactical execution.
What is keeping CFO’s up at night? According to a recent survey by The CFO Alliance, having too much to do and not enough time to do it. Having strategic agility is another top concern - which tied closely with to not having the right systems, or the right skills on their team. With outdated technologies, inefficient processes and misaligned skills on the finance team, CFOs are operating at a disadvantage to obtaining quality data so they can make more informed decisions.
If CFOs aren’t getting accurate information in a timely manner, they can’t pivot effectively. What it all comes down to is strategy. Forward-looking CFOs are finding ways to prevent from getting bogged down in transactions and get actionable data. They want confidence that the financials and processing are executed correctly. More companies in between the very large and very small are choosing to outsource transactional F&A functions while keeping a core team in-house. This gives them more time to focus on creating and executing strategic plans.