The role of the Chief Financial Officer (CFO) has evolved significantly in recent years, propelled by technological advancements and the increasing importance of data-driven decision-making. The digitization of the finance function has elevated the CFO’s role, making them pivotal in maintaining their company’s relevance. This transformation empowers all departments, allowing for unprecedented prediction of financial patterns. This new generation of CFOs, often called “Digital CFOs,” is fundamentally redefining the scope and impact of the CFO role.

Many still don’t realize the significance a digital savvy CFO could bring. Harvard University academic Clayton Christensen predicts that, “75% of the current S&P 500 companies will likely be gone from the list by 2027,” leaving only the top 25% as digital frontiers. It goes as HG Wells famously wrote, adapt or perish. The digital CFO’s ascent is just one part of a larger digital wave sweeping through all areas of business. PwC’s report supports this, with 47% of CFO’s saying their top priority is building predictive models & scenario analysis capabilities. According to a recent survey by Gartner driving digital transformation and functional improvement are among the predominant areas of focus for CFOs in 2024. The reason for this is because, for too long, CFOs have struggled with data accuracy and visibility and this hinders their ability to make informed decisions. A research from Blackline supports this and found that nearly 40% of CFOs around the world do not completely trust the accuracy of their organization’s financial data. Improving finance metrics, insights and storytelling, leading change management efforts, and optimising costs were also identified as priorities for over 70% of CFOs.

The Digital CFO Summit by Trueventus focuses on the transformation journey of the finance department. This includes all the data, analytical, automation and people process that create more vibrant and productive business operation. Join us and discuss with leading CFOs towards eectively digitising your finance department. So, whether you are a major champion of Digital CFO role or you shy away from IT-related matters, you need to attend this event to know where your department stands in comparison to others and how you can empower your organisation for challenges ahead.