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What CFOs Are Concerned About in 2017
I was recently looking at this article that took a close look at the CFO’s concerns in 2017. Ending a year with a new President, escalated fraudulent tactics and the UK’s decision to leave the European Union have left no room for more worries from the CFO office. Yet, challenges continue to mount.
- Risks – economic uncertainty, privacy regulations, cyber attacks and threats, coupled with internal resistance to change.
- Cost Management – driving a company’s growth by managing costs to remain or obtain profitability is proving to be more difficult due to other external factors.
- Ongoing Evolution of Technology – CFOs need to stay on top of the impact of technology and not only what it means on improved efficiencies and accuracies but the capabilities to support critical business decisions with reliable data.
- Regulations – the only thing guaranteed when it comes to regulations, is that they will change. This is a constant concern for the CFO office.
- Talent – in 2017 the CFO will be concerned about attracting and retaining top talent. Competition in the job market increases tensions within companies to not only make the best decision when it comes to new hires but to ensure they stay with the company by offering competitive benefits packages and compensation.
CFOs succeeding in 2017 will find tactical strategies to overcome these challenges and mitigate risk, utilize technology innovations to accurate manage costs and forecasts, pivot quickly to keep up with regulation changes and be able to retain the valuable talent to make this all possible.
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