The Role of the CFO in Transformation

Chief Financial Officers are finding themselves at the epicentre of large-scale transformation. Simon Moore, Executive Director at BIE, discusses how they can ensure there is a successful outcome.

Key points include:

• Many CFOs don’t feel that they are trained appropriately to be aware of the longevity of transformation.
• The CFO needs to make sure the company has the cash in place to carry the transformation process out. If this changes, the CFO needs to have the foresight to understand how it is going to impact the project.
• The CFO role is not only about the numbers. They need to look at the drivers of the business, where the opportunities are to grow and how this can be funded.
• In the future, the CFO will have to understand what part new technology, such as AI and robotics, will play in the company.
• A good CFO needs to be inquisitive, a skill that does not always go hand in hand with a finance background.