By Rich Bond
If you want to become a CFO in the future, you must act like one now. One way to do this is to understand where consultants and CFOs think finance is headed. Finance is basically quite simple; but most people in finance talk about it in complicated technical terms.
A recent McKinsey strategy paper “Memo to the CFO – Get in Front of Digital Finance” points out that 40% of finance can be fully automated. As technology is allowing more and more finance functions to be automated, CFOs can become less transactional and more strategic.
I believe it is not necessary to know how finance can be automated. To succeed, you just need to spend less time crunching the numbers and more time talking and listening to people in your company who are outside of finance. Then, you can develop and present meaningful analyses and recommendations.
Do you agree?
Shoot me a message: richard.bond@bondandcompany.com.
