{"id":398800,"date":"2020-12-14T07:33:20","date_gmt":"2020-12-14T12:33:20","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=398800"},"modified":"2020-12-14T07:33:20","modified_gmt":"2020-12-14T12:33:20","slug":"cfos-taking-more-prominent-strategic-and-enterprise-building-responsibilities-following-their-critical-covid-19-work-new-survey-shows","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cfos-taking-more-prominent-strategic-and-enterprise-building-responsibilities-following-their-critical-covid-19-work-new-survey-shows\/","title":{"rendered":"CFOs Taking More Prominent Strategic and Enterprise-Building Responsibilities Following Their Critical COVID-19 Work, New Survey Shows"},"content":{"rendered":"

\nCFOs\u2019 Adoption of Automation Positions Them for Enterprise Leadership, According to CFO Research and FTI Consulting Survey
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WASHINGTON, Dec. 14, 2020 (GLOBE NEWSWIRE) — Findings from a new survey show Chief Financial Officers (\u201cCFOs\u201d) are taking on greater strategic and enterprise-building roles after guiding their organizations through the challenges of COVID-19.<\/p>\n

CFO Research of Argyle Advisory & Research Services and FTI Consulting, Inc. (NYSE: FCN) surveyed 325 corporate finance executives to better understand how CFOs and the finance function drive enterprise value. Five key themes emerged:<\/p>\n

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  1. The work of CFOs during the pandemic has earned them the right to be strategic leaders in their organizations, as the pandemic shined a spotlight on their ability to lead via corporate scenario modeling and planning.<\/li>\n
  2. In the face of a \u201cnew normal\u201d economic environment, CFOs maintained productivity with remote teams. In response to COVID-19, 71% of their physical finance teams will remain remote or mostly remote, the survey shows.<\/li>\n
  3. The digital workforce continues to grow. While most CFOs have started to adopt automation, the survey results suggest automation has not reached its full potential in most organizations.<\/li>\n
  4. The CFO focus on enterprise value and cost objectives is driving changes in the finance operating model. The vast majority of survey respondents agree it is finance\u2019s role to drive optimization of enterprise cost.<\/li>\n
  5. Looking ahead, the CFO is well-positioned to lead the way as an enterprise value creator. The finance function\u2019s ability to provide insights on predictability in an ambiguous market will guide company decisions on cost, working capital, liquidity, risk and capital markets. <\/li>\n<\/ol>\n

    \u201cIn the past year, particularly with the global impact of the COVID-19 pandemic, CFOs and finance leaders have shown greater resolve and strategic leadership than ever before,\u201d said Gina Gutzeit<\/a>, Leader of the Office of the CFO Solutions<\/a> practice at FTI Consulting. \u201cThere are high expectations for the CFO to drive performance while protecting the business from risks. In a post-pandemic world, there will be no substitute for solid planning and leadership, and Finance\u2019s role in driving change across the enterprise will be critical to thriving in future disruptions and shaping the organization for success.\u201d<\/p>\n

    More than 90% of the surveyed executives say that:<\/p>\n