This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Are today’s CFOs ready for tomorrow’s demands on finance?

  • United States Image

Dec 30, 2016

In December 2016, McKinsey released their latest Global Survey on the role of the CFO. Survey results show that as their role expands to include ever more non-financial demands, CFOs know they must build new skills to lead.

In the survey, finance leaders report that while newer responsibilities, such as digitizing critical business activities and managing cybersecurity, present opportunities for finance leaders to differentiate themselves—and their companies—from competitors, many CFOs believe their companies are not yet prepared to manage these challenges.

These nonfinancial responsibilities are putting many CFOs on alert. Less than one in three believe their companies have the capabilities they need to be competitive in their digitization of business activities.

On the whole, CFOs recognize the need to move beyond traditional or textbook practices. But few say their companies use innovative methods to make decisions. Roughly two in three CFOs say their companies do not yet have the capabilities for agile decision making, scenario planning, and decentralized decision making they’ll need to be competitive in the coming years.

In response to some of the challenges that the survey results revealed, a few steps that CFOs and their companies can take have been identifed:

  • Assert proactive and strategic leadership
  • Adopt an investor’s mind-set—and more innovative practices
  • Embrace technological advances

Review the full survey on the McKinsey's website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.