The evolution of the finance function over the last decade has been exciting to watch. Long gone are the days when this was seen largely as a transactional or administrative department. Today, finance teams, led by CFOs and heads of finance, sit at the heart of businesses, rightfully recognised as essential partners to growth.
Recent years have put finance teams to the test, but also served to underscore the importance of this evolution. A challenging and uncertain operating environment, with no shortage of unexpected challenges, has created an opportunity for finance leaders to assess the limits of their redefined role. Plus, it has highlighted the benefits that expanded influence can bring.
How do we know this? American Express recently conducted research amongst 250 senior UK financial decision-makers, including CFOs, heads of finance and finance directors. The results highlight the key changes CFOs have made over recent years, while underlining their focuses for 2023, as they seek to drive business growth amidst an unpredictable backdrop. What is immediately clear from our research is that finance leaders and CFOs remain confident in their function and are optimistic about the performance of their business as a result.
Finance leaders and their teams continue to evolve to keep pace with the demands of the times. From working more closely with the wider organisation to sharpening their focus on environmental and social goals, finance teams continue to play a key role in their businesses.
Download further insights on the priorities of finance leaders for the period ahead in our Data, Digitisation, and Dynamism whitepaper.
