The Evolving Role of the CFO

If you ever needed evidence of how important it is to constantly increase your knowledge, learn new skills, and stay ahead of the technology curve in business, then just take a close look at how the role of the CFO has dramatically evolved over the past few years. CFO’s are now balancing the implementation of traditional finance expertise with a wider scope of responsibilities in other areas of the business in order to drive the C-suite objectives and lead significant positive change for their companies.

Research illustrates that on average, 6 different business functions are the responsibility of the CFO outside of the traditional finance function, including procurement, investor relations, and digitalisation. It is digitalisation and the rapid pace of change of technology that is having the most significant influence on the CFO role. Whether it is automation, analytics, robotic processes, or data visualization, finance functions are now at the forefront of digitalisation with nearly all CFO’s acknowledging the importance of the technological evolution of the function.

It is staying ahead of this technology curve and identifying opportunities for digitalisation and automation, while still ensuring compliance, risk mitigation, and data security; that is one of the biggest challenges for today’s evolving CFO. While ensuring the company keeps ticking over with their traditional finance activities, the 5 distinct technologies and tools that every CFO must invest in now are data digitalization, automation, analytics, visualization, and integration.

ivi as the world’s leader in the digitalisation of business processes between companies, enables your business to take the first step in its digital journey and transformation. With our industry-leading suite of e-Invoicing and AP Automation Solutions, we support over 15,000 CFO’s around the world to face the challenges of their evolving and expanded roles, as they take advantage of our latest AI and machine learning digital technologies.