CFO Indicator Report: Frictionless Finance
The future of finance is frictionless.
We asked 267 CFOs what they wish they had known during the pandemic and what technology investments they are making for the future. See what they had to say about data, automation, and agility.
WHAT IS FRICTIONLESS FINANCE?
Imagining finance without the friction.
Finance leaders are eliminating friction in their everyday processes in order to rise to the challenges that lay ahead. This means automating tedious manual tasks, adopting machine learning (ML), and creating data-driven strategies.
Our Survey Findings
Bridging the gaps in finance.
Agility is the biggest opportunity to improve.
49%
of CFOs saw a gap in the ability to execute with accurate, timely data that drives quick, informed decisions.
Finance needs real-time access to data.
52%
say that delayed product launches and missed financial forecasts were the result of not having the necessary data.
Finding innovative solutions for complex challenges.
Make your data work for you.
Almost half (49%) of CFOs say data management and analysis is a top priority for the next three years.
Move to the cloud.
Nearly two-thirds of CFOs (60%) are investing in reimagining finance operations in the cloud and deploying AI/ML solutions.
Anticipate change.
Predictive analytics is the top sought-after automation capability for 49% of CFOs.
Finding innovative solutions for complex challenges.
Make your data work for you.
Almost half (49%) of CFOs say data management and analysis is a top priority for the next three years.
Move to the cloud.
Nearly two-thirds of CFOs (60%) are investing in reimagining finance operations in the cloud and deploying AI/ML solutions.
Anticipate change.
Predictive analytics is the top sought-after automation capability for 49% of CFOs.
Building a brighter future.
Finance leaders also play a growing role in creating socially responsible organizations. Over half of all CFOs surveyed (55%) are most focused on prioritizing environmental, social, and governance issues, as well as diversity and inclusion.