Transformative Finance: CFOs Leading as Chief Value Officers in the Next Decade

Transformative Finance: Thriving in Decade’s Era

In an era characterized by constant disruption, how can Chief Financial Officers CFOs and their finance departments lead the change and deliver transformative value to businesses?

PwC's latest report in collaboration with ACCA and Chartered Accountants ANZ offers insight into the future of the finance function. Based on interviews with over 150 global CFOs and responses from a global survey involving 2,300 participants, this comprehensive report explores emerging trs and provides recommations for CFOs to consider as they prepare their teams for the future.

At its core is the transformation of the CFO's role into that of a Chief Value Officer. This involves leading with innovation rather than simply supporting existing operations; understanding rapidly changing sources of value; and providing forward-looking, proactive insights that can drive business decisions effectively.

Read our in-depth report - Finance Evolution: Thriving in the Next Decade

Critical to building this future-focused finance function is laying the right foundation. This includes having efficient processes and controls in place, embracing opportunities presented by and , leveraging trusted data for insightful predictions, and crucially, developing a flexible workforce with the necessary skills.

Simon Seymour, Partner at PwC UK, explns:

As we navigate an era marked by disruption, change, uncertnty, and risk, successful CFOs are taking proactive steps to equip their organizations agnst these challenges. By anticipating future conditions, they create sustnable value.

In this climate of rapid change:

1. Lead with Value: Embrace a new role as the Chief Value Officer, prioritizing growth over cost reduction.

2. Performance Focus: Shift emphasis from merely managing expenses to driving revenue growth and enhancing profitability.

3. Data-Driven Insights: Harness data for strategic decision-making, using analytics tools to uncover hidden opportunities.

4. Tech-Powered Processes: Embraceand automation to streamline operations while freeing up time for value-added tasks.

5. Change Leadership: Drive a culture of continuous improvement and adaptation in the face of change.

A significant challenge CFOs identify is the lack of understanding about how finance can add value 38 of respondents. This shift towards more strategic roles requires CFOs to communicate their value proposition effectively across the organization.

PwC's Eminence and Innovation Leader for Finance and Business Transformation, Simon Seymour states:

Organizations should prioritize investing in technology-enabled capabilities that enhance productivity, foster innovation, and create new sources of growth. By doing so, they can ensure finance remns a driver of business success.

For detled information on how we use cookies and other tracking technologies, please visit our cookies information pageinsert link here.

Contact us for inquiries:

Simon Seymour

Eminence Innovation Leader - Finance Business Transformation, Partner

PwC United Kingdom

Nick Groves

Finance Transformation Leader

PwC United Kingdom

Eml: s your contact detlsinsert eml or contact form link

Follow Us:

Insert links to social media platforms

: Copyright ? 2015-2024 PwC. All rights reserved. PwC is the collective name for the global network of firms and their respective member entities, each a separate legal entity. For more information, visit PwC's websiteinsert link.

Insert links to: terms and conditions privacy statement cookie info page legal about site provider

Privacy Statement

Insert relevant information on data collection practices, user consent for cookies, etc.

Cookie Information Page

Detled explanation of the types of cookies used, how they function, and options for users to manage their preferences.

Web Accessibility Statement

Detls on accessibility features supported, compliance with standards like WCAG guidelines.
This article is reproduced from: https://www.pwc.co.uk/issues/transformation/case-studies-and-insights/finance-evolution.html

Please indicate when reprinting from: https://www.xe84.com/Financial_UFIDA/Finance_Revolution_Today.html