The change is real. A decade ago, financial planning and accounting, operating margins, risk management, tax, audits, reporting, and regulatory compliance topped the list of priorities for CFOs. Now, as a strategic advisor to the CEO, the CFO must own a far greater charter.
As stewards of the enterprise, they must guide the company on financial responsibilities, trust, ethics, compliance, and purpose-fuelled business strategies. As the corporate leaders with the greatest visibility into performance, efficiency, optimization, and new opportunities, finance chiefs now assume greater responsibility for digital transformation initiatives, analyzing and nurturing innovation, and enabling a culture of data science-led decision making.
TCS 2020 CFO STUDY
The TCS 2020 CFO Study “How future-ready CFOs are driving real-time business performance” examines the responses from future-focused CFOs in large enterprises in the United States, Canada, Germany, the UK, and the Netherlands to explore this and other topics.
Incubate enterprise-wide innovation
Incubate new ideas and concepts to develop new business models. Look beyond efficiencies to identify opportunities for exponential growth.
Invest in digital business
Invest in digital transformation initiatives by evaluating financial viability and alignment with the business’ purpose. Transform the finance function into a digitally-enabled organization.
Transform enterprise culture
Drive greater cross-functional integration and decision making. Foster a culture that accepts, learns from and adapts from failure to redefine success.