May 6, 2021
Gartner has identified four transformation initiatives chief financial officers (CFOs) should implement or risk failing to meet their objectives.
These plans will fail if CFOs do not fully account for the comparative advantages of their function.
“Many business activities that were the traditional remit of finance departments, such as centralised data governance, are either being democratized across the enterprise or are no longer major differentiators in the value that finance teams can offer to the business,” says Peter Nagy, research vice-president in the Gartner Finance practice.
“To meet the vision of a leaner, digital-first finance department by 2025, CFOs need to double down on the things finance can do better than anyone else.”