CFOs are almost always pressured for time – more so today than in 2019. To be fair, the focus of the job remains the same – cost control and revenue growth. What makes 2020 different is the level of unpredictability that market conditions present.
COVID-19 doesn’t give CFOs much room to manoeuvre – no idea how long the pandemic will last or which businesses across the supply chain will be impacted first and how fast the disruption will spread. A Dow Jones Intelligence survey of 500 finance executives affirm what we know today – there is greater demand on the CFO to participate in strategic business decision-making, as well as a more diverse types of business and operational risk management.
At the same time, tactical responsibilities have not diminished, and the unpredictability of market conditions mean CFOs spend more time on functional tasks such as developing budgets, managing financial reporting, audit, and compliance.
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