One of the biggest complaints, from many CEOs of mid-sized companies is that the CFO at
the organization “is not strategic enough.” Given the unprecedented pace of change and disruption affecting business today. This concern is understandable.
Most CEOs want an ally at the helm of the corporate ship to help them navigate around obstacles and to identify new opportunities as they guide their business toward their target destination.
Many CFOs serve this important role (and we feature three in this report), but not all—hence the grumbling. In those businesses without a strategic CFO, the finance function is usually overwhelmed by critical responsibilities that need to be executed on time: accurately filing taxes and other regulatory compliance documents, compiling timely financial reports for management and investors, and managing cash flow, budgeting, payroll, accounts payable and receivables.
“Finance often is up to its ears in manual repetitive tasks that bog down the function,” says Sandy Cockrell, global leader and U.S. national managing partner of Deloitte’s CFO Program.
Chief Executive Network recently published another whitepaper as part of their “Manufacturing CEO Top Challenges” research series.
To read in it’s entirety, click HERE