The pandemic has put chief financial officers in the spotlight. No longer just finance stewards, they have taken on more proactive roles in steering the company forward. This has led to new calls for financial transparency, faster data sharing, and having the ability to create new models and explore multiple scenarios quickly.
To address these new needs, CFOs are helping to accelerate digital transformation. While this has improved the CFO’s ability to navigate the uncertain market landscape, it also introduces new challenges.
According to EY, CFOs are becoming chief resiliency officers – not as a new role but as an added function. Why resiliency officers? EY says “the CFO is usually first on the scene concerning distress, transactions and urgent cost take-out. They also have to firefight around potential breakage points — low cash reserves, lean inventories, distressed suppliers and shippers.”
FutureCFO and Workday invited leading finance leaders to a virtual roundtable to understand these new challenges. The discussion highlighted the rising value of data in the CFO organization, the humanization of the role, and how CFO teams are becoming business partners.
Click on the link to download your copy of discussions that occurred during closed-door roundtable discussion.