As the top guns of finance, CFOs are chartered with piloting their organizations to new heights, successfully anticipating and navigating turbulent economic times. Yet, as the pace of business accelerates, many CFOs report they are feeling a need … a need for more speed.
Our CFO Indicator Q1 2017 report, which captures the views of over 270 CFOs, reveals that finance teams aren’t meeting their CFOs’ speed goals. In fact, there appears to be a large speed gap to bridge when it comes to reporting and ad hoc analysis. Unfortunately, this delay is taking its toll on decision-making, with over three-quarters of CFOs admitting that major business decisions have been delayed due to stakeholders not having timely access to data.
How do they expect to accelerate their time-to-decisions and enable increased agility? As finance shifts its focus from historical reporting to a more forward-looking view, a large percentage intend to beef up their analytics capabilities, with 45% planning to invest in dashboard and analytics solutions by 2020, in addition to budgeting and forecasting (40%) technologies.
Our report explores how finance leaders are addressing and planning for a faster, more agile finance organization to maximize business opportunities, stave off competition, and avoid flying into the danger zone. The report warns, however, that their success is dependent on their pace of change—something that may not be happening as quickly as they believed it would.
Download the CFO Indicator Q1 2017 report for more insights, survey results, and charts.