As organizations grappled with the pandemic and its economic impact, the CFO played a crucial role in positioning the business for recovery and rebound.
As we set foot in the next normal, CFOs’ roles and business imperatives continue to evolve in response to a highly volatile economic and geopolitical environment.
The Global CFO Survey 2022 by Everest Group, supported by WNS, highlights the changing priorities of CFOs and uncovers the reality amid the chatter.
Having steered their organization through the pandemic, CFOs now strive to re-align their priorities to meet the demands of the next normal. In today’s highly volatile economic and geopolitical environment, the CFO has an opportunity to work towards building an agile and resilient organization, emerge as a change agent and deliver competitive advantage.
As the custodian of organizational performance, the CFO must facilitate transformation and create a future-ready finance function by re-framing the talent strategy, developing robust practices to work with external value partners, adopting digital levers and ushering in a culture of continuous change.
Adaptability to change is a vital determinant of the future-ready finance office. To achieve that, the CFO needs to keep an ear to the ground and make informed decisions. Which areas within Finance and Accounting (F&A) are attracting the most investments? What kind of adoption is Artificial Intelligence (AI)-driven predictive analytics witnessing? How are peers approaching the critical theme of integrated finance operations? What are the fundamental building blocks for driving change in the finance function?
The answers to these questions have changed in the two years since the pandemic hit when working out short-term tactics to overcome the crisis trumped all other concerns and goals. So, what are the CFOs’ plans and priorities today? Can we filter out the noise around challenges and investment appetite so that one can distinguish between the chatter and reality?
The Global CFO Survey 2022, conducted by Everest Group and supported by WNS, highlights the changed scenario. In contrast to the CFO survey in 2020, we now see a significant appetite for investment, a strategic shift towards transformation and a focused intent to elevate the CFO’s office as a strategic growth partner to the business.
The study was conducted across the major geographies of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. It encompassed key industries such as Insurance, Consumer Packaged Goods and Retail, Manufacturing, Travel and Life Sciences, to name a few.
Read the findings of the Global CFO Survey 2022 by Everest Group, supported by WNS.
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Finance & Accounting
17 October 2022
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