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Finance leaders under pressure to better manage margins, cyber threats and cash flow

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CFO/VP-level Executives' Significant Priorities: (responses ranked on scale of one to 10, with 10 highest; responses ranked 6 or higher classified as 'significant')

Margin/earnings performance

82%

Cybersecurity risks

81%

Strategic planning

79%

Periodic forecasting

75%

Budgeting

75%

"For CFOs responding to the survey, priority levels have trended up over last year's already high numbers, and cybersecurity risks join the ranks of other critical priorities," said Bill Sinnett, COO, Financial Executives Research Foundation.

Additional key findings from the 2016 survey include:

  • Cybersecurity concerns permeate the finance function – Cybersecurity represents a strategic organizational risk and, not surprisingly, one that ranks near the top of finance functions' priority lists. From a finance perspective, there are significant concerns regarding the security of financial information as well as the financial impacts of the security of all data. While IT often takes the lead in addressing this risk, cybersecurity is now a top boardroom issue as well as an area drawing substantial time and attention within the finance function.
  • Wanted: a single, real-time version of the truth – To help strengthen overall business performance and strategic planning, and to drive value from the financial data within an organization, finance functions want to develop better, more accurate and timelier data collection, data analysis, reporting, budgeting and forecasting capabilities. These corporate performance management processes are used to perform profitability analyses tied to customers, products, operating units and geographies.

 

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