5 ways finance executives can leverage our unique expertise, and our cautious nature, to advance corporate strategy.
By Susan Cosgrove|July 25, 2019 at 10:53 AM
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The role of the CFO has evolved dramatically in recent years as the business landscape has become more dynamic, competitive, and complex. It’s no longer enough for a CFO to focus on the traditional responsibilities of protecting the financial security of the firm and identifying ways to foster growth. Today, CFOs are expected to play a broader and more strategic role by helping to define and shape the future vision of their companies, particularly as new technologies create opportunities to transform market sectors in the blink of an eye. Central to this is the need for CFOs to serve as champions of organizational innovation.
This emphasis on technology innovation tends to be unchartered territory for many CFOs. The topic is, by nature, somewhat nebulous and hard to measure—which means it can feel contradictory to our responsibilities as financial stewards of the business. However, CFOs are naturally equipped to find an appropriate balance between promoting innovation and making ‘safe’ financial decisions by ensuring that investments are connected to outcomes and that the outcomes are focused on growth and an improved client experience.
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