Moving Beyond the Back Office
The role of the CFO has evolved and expanded materially in recent years. Their purview now often extends far beyond the traditional core finance function to include business planning, corporate development, risk management and compliance, procurement and sourcing, real estate and investor relations. With many CFOs at the forefront of their organizations’ crisis response, the COVID-19 pandemic has further underscored the importance of a strategic finance leader. The CFO office has led scenario planning and cash forecasting, played a central role in legal and lender negotiations, and served as the face of the organization to assuage nervous investors and collaborate with suppliers and customers who may be overwhelmed with uncertainties in their own businesses. Organizations are increasingly looking to the Office of the CFO to deliver more meaningful, actionable insights that are mission-critical to their ability to weather sustained economic headwinds, drive innovation, maximize financial performance, stay ahead of the competition and, ultimately, fuel growth.