Accenture Research Shows CFOs Play a Growing Role in Digital Transformations at Financial Services Companies
Summary
NEW YORK--( BUSINESS WIRE )--Chief financial officers (CFOs) at banks and insurance companies are playing a growing role in digital transformation by leveraging new data and analytic technologies and by assuming greater influence in decisions about technology investments, according to new research from Accenture (NYSE: ACN).“Banking and insurance CFOs are at the center of the organization, working alongside the CEO, acting as the economic guardian to ensure that the digital transformation strategy is effective across the entire enterprise,” said Steve Culp, a senior managing director at Accenture and global head of the company’s Finance & Risk practice.“By leveraging predictive analytics and artificial intelligence to better interpret data for key business decisions, CFOs can drive value, improve efficiency and enable strategy beyond the borders of the finance function.”According to the research, CFOs’ biggest potential strength is the ability to harness data to increase the efficiency and effectiveness of not just the finance function, but the entire organization.CFOs are striving to become more proactive and forward looking in their reporting, using new technologies along with data from inside and outside their organization to prepare for future changes more easily and accurately.