CEOs set a high bar for their CFOs

04/12/2015

By Stefan Pfister in Industry insights - KPMG Switzerland - 30.11.2015

In today’s complex global economy, what do CEOs expect from their CFOs? KPMG surveyed over 500 executives across the globe to explore the CFO through a CEO lens.

Increasing requirements

CEOs challenge their CFO to think differently, exude stronger leadership capabilities and succeed as a strategic partner. 63 percent of the surveyed CEOs believe that the CFO’s role will increase in significance over the next 3 years, as compared with other C-suite roles.

– CFOs need to approach the regulatory burden as an opportunity. CEOs named the regulatory environment as the external factor that will most influence the future role of the CFO.
– The CFO of the future leverages the latest technology. Leveraging IT, such as cloud-enabled ERP systems, should be the main focus of CFOs in the future, say CEOs.
– Data and analytics will increasingly drive strategy and profits. 85 percent of CEOs say applying financial data to achieve profitable growth is the greatest strategic value a CFO can bring to an organization.
– CEOs put a huge value on people skills. Almost all (97 percent) of CEOs say that attracting and retaining top-notch finance talent is the most important contributing factor in improving the finance function.

In order to meet the high expectations CFOs need to possess specific business attributes…

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