The Covid-19 pandemic has altered the responsibilities of Chief Financial Officers, thrusting them more prominently into strategic and enterprise-building, according to a new report.
The report, Leading the Way Through Critical Times, found that CFOs played an enormous role in maintaining the productivity of their organizations as they moved to remote work. It also showed how automation will remain a driving force in finance departments and their work. The research, from global consultancy FTI Consulting, found the overwhelming majority (80 percent) of respondents said at least five percent of their finance team consists of RPA bots.
“In 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,” said Gina Gutzeit, Leader of the Office of the CFO Solutions practice at FTI Consulting. “There 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’s role in driving change across the enterprise will be critical to thriving in future disruptions and shaping the organization for success.”