Digital Transformation – the CFO’s Role in Success

Spurred on by the pandemic and the push towards retaining remote working, many businesses are now actively rethinking their traditional business processes and the pace of digital transformation is accelerating faster than ever before.

Since the Luddite rebellion advances in technology have overturned more than just jobs. History reveals that on average 80% of incumbent companies fail to survive genuine change.

The role of the CFO in navigating a brand’s path to survival is ever more important

A half way decent CFO asks where the growth is coming from. However, to be properly effective the CFO should be asking whether there is alignment with other Directors, in particular the COO and Chief Commercial Officer.

Digital Transformation is no exception. A shared vision of what the transformation should be must be established. Disconnected and ‘silo’ Digital Transformation projects pay lip service to the real needs of the business and a joined up strategy is essential. Too many times a lack of alignment and business partnering is fatal, particularly when advances in technology are underestimated or not properly understood.

‘The 5D FD’ White Paper illustrates and drills down into the importance of ensuring the CFO is right-skilled and able to deliver not only reporting and analysis but also all the vital consistency of understanding and assumptions across the business.

Questions to be answered include “What is the Digital Transformation Strategy for this business, and are all the Directors aligned?”

To learn more about ‘The 5D FD’ and how Acuity Associates uses The Acuity Measure to ensure the right skills are present in the CFO email and request a  call back.

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