CEOs and other top executives are working more closely with CFOs today, and this has increased the responsibilities of CFOs worldwide, according to IBM's most recent study of global C-suite executives.
IBM interviewed 576 corporate CFOs between February and June 2013 for the survey, finding that CFOs believe almost all of their tasks have increased in importance during the past three years. One CFO of an industrial products company in Mexico described his evolving role: "We need to have the right information, have it one time and invest the right amount of effort in interpreting it."
Respondents said there are several critical tasks tied to their jobs, as their teams expect more out of them. Here are the top 10 most pressing concerns CFOs identified, in order of importance.
• Measure/monitor business performance
• Provide inputs into enterprise strategy
• Develop talent in the finance organization
• Optimize planning, budgeting and forecasting
• Drive enterprise cost reduction
• Support/manage/mitigate enterprise risk
• Drive integration of information across the enterprise
• Execute continuous finance process improvements
• Strengthen compliance programs/internal controls
• Manage investor/stakeholder relations
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