Chief financial officers nowadays navigate a difficult “deadweight” economy, according to Gartner, Inc., characterised by tepid demand growth, stubbornly high costs and constrained access to capital.
The majority of CFOs are reacting by prioritising improvements to the finance function’s strategy and design.
Geraldine Garaud, senior director analyst at Gartner, enumerated how six questions can help that process.
Key Takeaways
- There are three main reasons that CFOs want to redesign their functions. First, to make the function more scalable and prevent the friction of a poorly designed organisation.
- Second, to identify and define the new roles, skills and responsibilities required in a digital finance function.
- Third, to embed new more collaborative approaches to work, behaviors, team customs and adopt methods such as lean and agile.
- To address these drivers for function redesign, CFOs need to ask themselves and their teams each of the six questions in the order listed in the accompanying slide.
