New Research Finds UK CFOs Are Struggling To Keep Up With Demands From CEOs
New research, commissioned by Tipalti, highlights that 97% of CFOs in the UK admit their job has become more complex in the past two years.
Tipalti polled over 300 CFOs and CEOs across the UK, uncovering the key complexity drivers for the finance department following the pandemic, as well as what the greatest shifts of focus have been for CFOs and highlights the bigger demands placed on them by the CEO and board.
Tipalti’s findings shed further light on how substantially the role of a CFO has shifted over a short period. CFOs are no longer seen as back-office and working from spreadsheets. Instead, they are now pivotal for company growth. Below, Tipalti’s research demonstrates that CEOs are increasing asking CFOs to drive innovation in areas including sustainability and digital transformation:
- 97% of CFOs say their role has become more complex over the past two years
- 39% of CFOs say there is an increasing demand to collaborate with the c-suite compared to two years ago
- The main driver of complexity is incorporating ESG/sustainability initiatives, cited by over a quarter of CFOs
- International expansion and adopting new technology are key priorities for the CFO