New and changing regulations, evolving international and domestic tax laws, and ongoing demands for CFOs to deliver strategic contributions to their organizations in the form of business intelligence, data analysis and effective forecasting represent many factors (but hardly all of them) pulling them and their teams along many different but critical paths. Financial Executives Research Foundation (FERF) is partnering with Protiviti for their 2015 Finance Priorities survey.
Not surprisingly, these themes topped the list of CFOs’ priorities in 2014, according to the CFOs polled by Protiviti. Key findings from the results of Protiviti’s Finance Priorities Report included the following:
- Managing cash flow and working capital efficiently and effectively is important – CFOs are combating inefficiency aggressively as they strive to make their financial transaction processes and systems as streamlined as possible. These efforts include a wide range of improvements to cash forecasting, banking relationships and other crucial areas.
- Harnessing business intelligence and “big data” are critical for strategic planning, forecasting, budgeting and profitability analysis – There is a major drive within more organizations to understand in minute detail the performance and profitability of product and services lines, customers, customer segments, and sales channels, thus strengthening executive management’s strategic decision-making regarding investments.
- Major and looming changes to U.S. tax laws and business regulations represent major concerns – These changes will have significant implications on tax planning and forecasting.
- The finance function’s rising strategic importance highlights the need for strong leaders – CFOs continue to focus on strengthening their leadership and change management skills.
- Changes to U.S. healthcare regulations are having a major impact – Many questions remain open for companies related to the Affordable Care Act, from compliance to short- and long-term costs.
To download Protiviti’s
Finance Priorities Report, click
here
To download a FERF Executive Summary of the survey results, click here
So what are your priorities for the coming year? Please take 10 minutes to let us know your priorities, and click here to take the survey.