New Study Underscores Digital Trends Changing CFO Role Today. 76 percent of CFO's now drive digital transformation in their companies. Learn about the 5 questions important to your digital readiness.
Chief financial officers are increasingly leading the digital transformation efforts at their organizations, as part of the evolution of the role of CFOs, according to a study released last week. The online survey commissioned by accounting software maker Sage found that 76% of respondents said they believe CFOs drive digital transformation in their business.
The Sage survey interviewed 500 financial decision-makers nationwide, including CFOs, finance directors, accountants, and controllers. About 85% of respondents were from firms with between 100 and 499 employees, while the remainder were from smaller firms. The Sage report belies the popular perception of the CFO as conservative and risk-averse. Some 91% of respondents said that the introduction of AI into the workplace was a positive advancement and 93% are comfortable with automation performing more of their day-to-day accounting tasks in the future.
Ninety-two percent of respondents said that improving productivity is one of the most significant benefits of automation. At the same time, 72% added that AI would assist with period-end reporting in the near future. The CFO is often at the lead of an organization’s digital transformation because of their vantage point overseeing most organizations, said Dan Fisher, a managing partner at consultancy Contemporary Leadership Advisors.
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