In today’s digital world, chief financial officers (CFOs) have transcended their traditional roles to become enterprise-wide strategists, innovation and change leaders and proactive decision-makers while utilising technology to look at the bigger picture.New data management technologies are giving them access to real-time insights, allowing for better and more efficient decision-making. Leveraging these capabilities to extract insights can help elevate CFOs’ involvement in strategic investment choices and business partnering.So what are the competencies CFOs needs to master in this new age? Digital labour: Artificial Intelligence, Robotic Process Automation (RPA), Machine Learning and Cognitive Technology are transforming business and creating a new category of digital labour. A digital CFO should be able to optimise these opportunities. He should be able to utilise this intelligence revolution to help achieve unparalleled gains in efficiency and cost effectiveness.Cybersecurity: CFOs should take an active role in cybersecurity efforts as cyber-attacks have a direct financial direct impact on the company. CFOs will need to perform an impact analysis, and take into consideration the trade-offs and costs of investigations. Such indirect costs can be a heavy financial strain to their organisation. CFOs also need to be mindful of insider threats. Digital CFOs must go beyond digital walls, helping… Read full this story
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