The Empowered CFO: The Emerging Role Of The Finance Office In Large Corporations
Source: Economist Intelligence Unit
There is a trend towards centralized, higher-profile finance functions with authority to monitor performance and liaise with business units at all levels. Finance departments are increasingly likely to focus on strategic analysis and decision-support, to initiate and use company-wide performance indicators, and to form ad hoc teams to address business issues. CFOs today look for staff with broad business skills in addition to staff with specific financial know-how. The management practices of finance departments are in a transition phase, with some departments empowering staff executives to act autonomously and take risks.