CFOs of the future will regularly partner with non-financial areas of the business on growth initiatives and innovation of operating models contributing substantially to a firm’s competitive advantage. As a result of the expanded skill set we see a notable increase in the rate of CFO-CEO ascension.
CFOs are integral to the team that drives their company’s transformation strategy and supporting programs. They are critical to ensuring that decision-making across the whole organisation is aligned with purpose. The finance chief also translates the purpose into financial and commercial targets and outcomes.
CFOs are playing a key role in developing and implementing strategy within their company, partnering with CEOs to creatively design growth opportunities for the future. Successful CFO leadership requires a deeper understanding of strategy, increased leadership skills, and an ability to effectively communicate financial acumen and knowledge to non-financial colleagues. Furthermore, CFOs are making investment decisions for business projects including the IT, Supply Chain, Operations and HR function.