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CFO 2017 Goals

Author: Moe Harrison /Tuesday, December 06, 2016/Categories: SNI Companies, SNI Financial, Financial Staffing, SNI Certes, Financial Staffing, Accounting Now

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The results are in! The annual Kaufman Hall CFO survey demonstrates the changing and expanding role of data in financial management. This survey asked almost 400 finance executives to share their goals and top concerns for the coming year – Here is what they found:

CFOs want to make a big impact on their corporate operations. More than 70% of the executives surveyed said supporting decision-making is their top goal; which is a break from the usual accounting roles. More than 90% said they need to better leverage financial and operations information to support executive decision making.

The overwhelming majority of data being sought is management-level (75%) and operational (67%). This focus on data driven decision-making is a departure from more traditional CFO concerns relating only to financial management.

“CFOs want to make a bigger impact on operations across the board,” said Abe Cohen, vice president of marketing at Kaufman Hall. “The data is supporting the notion that CFOs are transforming into business advisers.”

Agility is another top 2017 priority. Less than 23% of respondents were very confident about their company’s ability to maneuver past unforeseen business obstacles. The main reason for their lack of confidence -- outdated financial planning and analysis tools and processes.

The move to rolling forecasts has mitigated some risk. According to the survey, thirty-eight percent of respondents say their company now uses rolling forecasts, up from 33% at this same period last year, and 25% in 2014.

CFOs said they need the ability to pull data from multiple sources into a single report, which would greatly increase productivity. They also want better processes to mine data and improve dashboards and visualizations.

Data-driven decisions and overall management support from CFOs is clearly a growing trend. Data can help optimize business performance through visibility into operations, more insightful analysis, and more rigorous fact-based decision making.

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Moe Harrison
Moe Harrison

Moe Harrison

Moe Harrison is a Regional Vice President with SNI. With more than 15 years’ experience in recruiting and personnel management, Moe has a unique perspective on the top issues and concerns of employers and candidates in the accounting and finance fields.

Other posts by Moe Harrison
Contact author Full biography

Full biography

Moe Harrison is a Regional Vice President with SNI. With more than 15 years’ experience in recruiting and personnel management, Moe has a unique perspective on the top issues and concerns of employers and candidates in the accounting and finance fields.

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