Traditional, full-time chief financial officers (CFOs) and finance directors (FDs) are seen a little differently to how they once were. They have more responsibilities and different expectations placed on them, and are considered a co-pilot in moving a business forward.
However, it’s also a position that is adapting to the rise of fractional finance leadership.
There’s been a big scale of change since the pandemic.
Many working in finance feel overwhelmed in their roles, given the backdrop of change and uncertainty they’re working against, as well as the need to be technically on top of changing regulations.
We’ve seen quite a lot of that this year and they also got all of the global economic shocks, which are causing businesses to have to be much more robust in their forecasting and be able to have more scenario planning.
That means they’ve got to have the ability to do that, but also have the right data in the first place.
This shift is well underway, with an expectation for the CFO to play a strategic role in everything from HR to the digital roadmap.
And in finance, they need to verify everything and have to prove that it’s gone through a good audit trail and they’re comfortable with everything – all the data that’s being used and how it’s being used.
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