It's Raining Challenges for CFOs

After the stressful roller coaster ride of the yester two years due to the COVID-19 pandemic, organizations worldwide are pacing-up their efforts to return to more sustainable and predictable operating conditions. The stakes are high for C-suite executives to find common grounds to collaborate and contribute directly to the company's growth. But this won't be an easy path ahead, given the unprecedented nature of the situation at hand.

Like almost all other C-suite leaders, Chief Financial Officers(CFOs) are amidst herculean challenges. CFOs

are against unprecedented challenges in skill shortages, labor supply, and supply chains. It's no secret that the financial leaders are in dire need of team members who are not only skilled in accounting, auditing, and compliance, but also understand data visualization, are flexible thinkers, possess good communication skillsand most importantly, have a lot of business sense. According to a recent Ernst & Young report, 22 percent of CFOs prioritize transforming how finance talent is recruited retained, and developed.

Beyond the typical challenges of controlling job costs and financial planning, CFOs now are also up against the pressure to leverage data disconnected, disorderly data andembrace technology and digital transformation. The aforementioned EY report also says that 23 percent of CFOs plan to prioritize improving big data and analytics capabilities to transform forecasting, risk management, and understanding value drivers. However, having the right team with the right skill sets could be the first, most crucial step towards tackling these challenges. We shed light on a few CFOs who share leading this transformation by example in this issue.
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