Michael Page has done a survey about the key trends in financial leadership across the world, more than 2800 decisions makers from over 70 countries have participated.
We can see a worldwide overview about what it’s at the top of the agenda for the CFO and financial leaders in the infographic below, the research revealed that:
– In general, the priorities that leaders set for the next 12 months are: Cost optimization (61.1%), Process optimization (59.6%) and Cash and liquidity & management (48.2%).
– According to the company size, the priorities change: cash and liquidity management are most important for smaller companies; ERP implementation and M&A activity for medium-sized firms, cost & process optimization for big companies.
– To successfully deal with a broader remit, CFOs must combine Strategic Thinking, Financial skills and Communication & Change leadership; the main change needs will be about implementation of new policies (50%), software implementation (47%) and far behind reorganization around shared service centers (25%)….
– Finally as their roles become more influential, financial leaders are generally happy, 75% of respondents. Most of them, 43%, are projecting that their position will enlarge their capabilities.
The study highlights that the role of the modern CFO is becoming a change leader, playing a decisive role as strategic advisor in complex economic situations, broader than their finance role.
So, what does the future look like for financial leaders like you?