The role of the CFO is anything but static as financial leaders rise to the demand of modern work. Staying informed about what’s top of mind for other CFOs will not only help you feel less alone, but it will also help you feel more confident and able to cope with your work challenges ahead.
Here are five of the current CFO trends ALL CFOs should be aware of:
Digital Transformation: CFOs in the UK are increasingly leveraging technology to automate processes, streamline operations and increase efficiency. Many companies are investing in data analytics, artificial intelligence, and cloud computing to enhance their finance functions.
Sustainability and ESG: If sustainability or ESG is not on your finance teams' agenda, then it should be. Environmental, Social, and Governance (ESG) factors have become a top priority for CFOs in the UK, as investors and customers demand more transparency and accountability from businesses. CFOs are now increasingly involved in setting sustainability strategies and tracking ESG metrics for their organisation.
Risk Management: The pandemic has heightened the focus on risk management for CFOs, particularly around supply chain disruptions, cyber security, and financial resilience. CFOs are taking a more proactive approach to risk management and investing in tools and technologies to monitor and mitigate risks.
Talent Management: CFOs in the UK are facing a talent crunch, as the demand for skilled finance professionals continues to outstrip supply. CFOs are investing in upskilling and reskilling their teams, and leveraging technology to automate repetitive tasks and free up time for more strategic work.
Mergers and Acquisitions: With the UK's exit from the European Union, CFOs are increasingly looking to M&A as a way to expand into new markets and diversify their portfolios. CFOs are taking a more cautious approach to M&A, however, given the ongoing uncertainty around Brexit and the pandemic.
Looking to grow in your career?
Let us be part of your success story.
Contact us and see how our consulting services can help you achieve your career aspirations.
Phone: 02380 111813