Report: Digital transformation tops list of factors reshaping CFO role

After steady expansion for decades, the scope of the CFO position seems to be changing faster than ever.

The juxtaposition of the fragile geopolitical and economic landscapes and vast technological disruption is testing finance chiefs as never before, suggests a new report from consulting firm Oliver Wyman and The New York Stock Exchange.

Based on a global survey of 494 CFOs at public and private companies, the report revealed artificial intelligence and digital transformation as the biggest change-driving forces. Two-thirds (66%) of survey participants placed it among their top three such forces. Next were business model disruption and competition (54%) and macroeconomic and geopolitical volatility (41%).

One consequence of the shifting environment is a “broader remit” for CFOs, consisting of more scenario modeling, faster decision support and a greater need to reallocate resources as conditions change, according to the report. See more findings.