The year 2020 has been socially, politically, and economically transformational. Businesses have never before faced complete shutdowns that forced them to change where and how they operate. Yet, every challenge brings with it opportunity. It could be argued that there has never been a more opportune time for the office of finance to have an impact, with CEOs increasingly looking to the finance function to help shape business direction and strategy.
Once considered a numbers-only role, finance is now balancing traditional responsibilities with growing demand for data-driven analysis and insights that support growth and strategy. All of this is happening against a backdrop of rapidly changing business and regulatory environments.
Such forces are redefining the role of the chief financial officer (CFO) and other key positions, such as the controller, financial planning and analysis (FP&A) leader, treasurer, and auditor. Beyond the traditional accounting career path followed by most finance leaders, what skill sets, knowledge, areas of focus, and business relationship-building skills will the office of finance need to master to become tomorrow’s finance leaders? In this article, we take a look at the emerging, and some more traditional, skills finance needs if it is to become the strategic guide the
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