Sage today released a survey of 500 senior in-house financial decision-makers, including CFOs, finance directors, accountants and controllers between October 25 and November 20, 2019.
The survey queried these professionals on a number of questions related to their use of technology in their finance duties.
Enter CFO 3.0. A new era where the amalgamation of Robotic Process Automation (RPA), Artificial Intelligence (AI) and Machine Learning (ML) delivers us to a new nirvana. CFO 3.0 is a new breed of trailblazing finance leaders who use data and emerging technology to create a vision for the future. They embrace new techniques, such as predictive analytics, to drive digital transformation to new frontiers of its capabilities.
To truly understand this transition from CFO 1.0 to CFO 3.0, we commissioned a study that enabled us to comprehend the opportunity better and challenges our fellow finance professionals are experiencing. We spoke to over 500 US-based CFOs to gain their perspective on what their future job description might look like and get a feel for the real impact tech is having on their day to day tasks.
According to Sage, they’ve uncovered three stages of CFO development.
CFO 1.0 – Driving Digitalization – Those at the start of their accounting journey who are focused on tracking cash flow and financial performance with many processes that are still manual.
CFO 2.0 – The Evolution of Finance – Familiar with automation tools and using them for analyzing current results.
CFO 3.0 – The Path to Visionary – This CFO type uses and analyzes data to predict the future direction fo the organization, uncover hidden opportunities and close information gaps.
For a full copy of this report visit Sage’s CFO 3.0 results site.
