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AcctTwo Blog

The Role of the Modern CFO and the Tools it Takes to Succeed

The role of the modern CFO is changing substantially from just a financial gatekeeper to becoming a strategic partner in running the business. This change is driven by advances in technology, evolution in markets, and shifting responsibilities throughout the C-suite. It's both an exciting opportunity and an urgent obligation.

Topics: CFO Operational Reporting Finance Transformation

The Challenges of Digital Transformation for Today's CFOs

Today's CFOs have a mandate to implement new technology across their organizations. A recent survey by Grant Thornton and CFO Research revealed that 69% of the senior finance executives who responded planned to invest more in technologies, with almost 40% increasing budgets by 10% or more. These efforts are intended to not only catch up with the competition, but also to surpass them with new offerings and a better customer experience. 

Unfortunately, the urgency of adopting new technology is matched by its complexity and difficulty.

Topics: CFO Finance Transformation

4 Necessary Skills for Today's CFO for Hire or Full-Time CFO

The role of the CFO is growing and changing rapidly. CFOs are still tasked with leadership and oversight. Whether you are a CFO for hire or a full-time CFO, you're now expected to  develop strategy and make key decisions . In order to excel at that responsibility, today's CFOs need the following skills:

Topics: CFO Best Practices

The More Active the CFO the More Stable the Company

Data-driven technologies are revolutionizing finance in ways that are both exciting and unexpected. Just consider the fintech startup Prattle. The company uses machine learning and analytics to determine whether earnings calls will have a positive or negative impact on markets.

The technologies analyze word choices, speech patterns, length, and other variables of earnings calls. Then the technologies compare those variables against past speeches. The goal is to spot patterns, trends, and indicators that lie below the surface of the statements.

Exploring Prattle's approach is fascinating because it uncovers market oddities that had previously been intuitive but not obvious. For instance, Prattle's data shows that when CFOs talk more than CEOs the company's stock experiences less short-term volatility.

Topics: CFO

Why CFOs Should Be Developing Technology Roadmaps

The Association of Chartered Certified Accountants (ACCA) recently came out with a report highlighting the importance of technology to the future of finance. Somewhat surprisingly, the report does not conclude that technology can improve finance and accounting. Instead, it concludes that technology can revolutionize finance and accounting.

Topics: CFO technology Accounting

What are the Top CFO Priorities of 2018?

CFO magazine recently surveyed financial executives at six large and mid-sized companies to determine their top priorities for 2018. The sample size may be small, but the insights offered are substantial and the issues addressed apply to every accounting department. This is what industry leaders are thinking about most at the start of the year:

Topics: CFO Accounting Strategy

A New Priority: Dashboarding and Reporting on Non-Financial Data

The C-Suite is undergoing a period of transition. Traditional roles are being redefined, expanded, and integrated in ways that fundamentally transform the executive function. This is most clear when you look at the evolution of the CFO.

Topics: CFO Financial Reporting tech-savvy cfo Operational Reporting

How Cloud Computing has Changed the Role of the CFO

Until cloud computing became a ubiquitous business solution, almost all IT decisions were up to the CIO. But now that the cloud has shifted the paradigm, other departments are becoming invested and involved with tech like never before. And no one has been impacted more than the CFO. Here are some examples of the new roles these executives are now responsible for.

Topics: CFO budgeting Cloud computing IT

3 New Approaches for the Data Driven CFO

Driving Performance in Financial Services

Most executives would agree that the decision-making window has been getting smaller with each passing year. Information has become more readily available in real-time, but not all executives and finance leaders are able to take advantage of the data available to them.

Topics: CFO eBook White Paper analytics business intelligence

The Changing role of the CFO

I’ve noticed a spring in the step and a smile on the face of many CFOs I’ve met recently. This is a trend that began as businesses recovered from the crash of 2008, and it appears to be directly connected to CFOs gaining influence in their companies. The best CFOs are loving it and are using this new found power to help their companies grow and look to the future.

Topics: KPI CFO tech-savvy cfo GAAP