58% of CFOs Increase Focus on FP&A: Key Insights from the PwC Report

The article discusses the increasing focus of CFOs on Financial Planning and Analysis (FP&A) and technology investments.

Key insights:Increased Focus on FP&A: 

58% of CFOs have increased their focus on Financial Planning and Analysis (FP&A) compared to last year. This highlights the growing need for accurate financial planning and analysis in a dynamic business environment.

Importance of Technology Investments: 

In addition to FP&A, CFOs are heavily focused on corporate performance management and digital transformations. 44% of CFOs state that increasing the use of technology to reduce costs is a top priority for the coming year.

Challenges in Technology Implementation: 

Although CFOs are generally optimistic about technology, less than a third find it a significant challenge to derive measurable value from new technologies. This is often due to issues with data quality and the implementation of technology.

Priority for Talent Development: 

52% of CFOs continue to see talent development within the organization as a priority. This underscores the importance of developing the right skills within the finance team to better respond to changing business needs.

Collaboration within the C-Suite: 

One-third of CFOs indicate that expanding their influence within the C-suite is a high priority. Effective collaboration with other leaders, such as the CEO and tax leaders, can help improve technology initiatives and strategic decision-making.These insights show how CFOs are shifting their focus toward FP&A, technology, and collaboration within the top of the organization to be better prepared for future challenges and opportunities.

Sources:"58% of CFOs have increased FP&A focus since last year: PwC report," by Adam Zaki
Published on: CFO.com, July 1, 2024