HOW CAN CFOS BALANCE THEIR TRADITIONAL FINANCIAL RESPONSIBILITIES WITH THE GROWING DEMANDS OF DIGITAL TRANSFORMATION AND TECH STRATEGY?
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HOW CAN CFOS BALANCE THEIR TRADITIONAL FINANCIAL RESPONSIBILITIES WITH THE GROWING DEMANDS OF DIGITAL TRANSFORMATION AND TECH STRATEGY?
More and more, we are seeing the line blur between technology and finance, with CFO roles being hit the hardest. The expectations of CFOs are no longer anchored to just finance but have expanded to innovation as well as digital experience and processing. I ask three experts to share their advice on how to maintain this balance, harnessing innovation whilst staying true to the heart of the CFO’ s role.
Omar Choucair, CFO at Trintech
Today, CFOs face the challenging task of balancing traditional financial responsibilities with the evolving broader demands of Digital Transformation and technology strategy. Digital Transformation should be viewed as a strategic enabler that empowers CFOs and their teams to work smarter rather than harder. Although integrating new technologies can present significant challenges, these hurdles represent critical growth opportunities that should be actively embraced, not avoided.
Strategic business agility has emerged as an indispensable quality for modern CFOs. The role of the CFO is rapidly evolving beyond traditional financial oversight, placing greater emphasis on technology, innovation and operational focus to drive business growth and maintain competitive advantage. Being agile means readily adapting to new responsibilities, proactively welcoming change and prioritising technological advancements in strategic decision-making.
Artificial Intelligence( AI) is a prime example of this dynamic. Finance teams often perceive AI as challenging because the return on investment can be unclear, and the best applications aren’ t always immediately evident. However, embracing AI with an open, strategic approach will position finance teams to realise substantial benefits as clear and effective use cases are identified and executed.
CFOs are aggressively balancing essential financial functions with ongoing digital initiatives. Implementing a clear, forwardthinking technology strategy enables finance leaders to optimise processes, streamline workflows and maintain a competitive edge. Ultimately, agility and a heavy focus on embracing Digital Transformation ensure that CFOs can successfully navigate their growing and strategic responsibilities while providing leadership to the entire organisation. � www. intelligentfin. tech
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