MENLO PARK, Calif., Sept. 15, 2021 /PRNewswire/ — The 2021 Finance Developments Survey, carried out by world consulting agency Protiviti, reveals that CFOs and VPs of finance are being appeared to for extra actions and knowledge that, till not too long ago, have been thought of outdoors their purview.
Survey respondents recognized their prime three priorities as: 1) safety and privateness of knowledge; 2) enhancing knowledge analytics; and three) course of enchancment, because it pertains to knowledge analytics. The outcomes present that finance leaders are more and more relied on as a go-to supply for insights required by firms to deal with fast-moving drivers of change. CFOs and VPs of finance are informing and shaping cybersecurity investments and capabilities, long-term expertise administration methods and provide chain administration selections, amongst different traditionally nontraditional areas for finance groups.
“To ensure that finance leaders to information crucial enterprise selections by way of data-backed insights and efficiently fulfill their widening vary of tasks, it is important to deploy a broader vary of expertise and expertise approaches,” mentioned Christopher Wright, a managing director and world chief of Protiviti’s Enterprise Efficiency Enchancment observe. “Savvy CFOs are leveraging versatile labor fashions in addition to marshalling the cloud, superior expertise instruments and third-party companions to automate as a lot work as attainable in an effort to meet baseline reporting wants, in addition to the rising expectations of their inside and exterior stakeholders. Finance leaders’ success might be decided by their means to supply, share, shield and analyze the info they should assist drive enterprise progress, resilience and innovation.”
The survey findings additionally present finance leaders in each private and non-private firms are conscious of the necessity to allocate extra time and sources to their group’s ESG (environmental, social and governance) reporting. A majority of CFOs and VPs of finance (58%) reported substantial will increase organization-wide within the focus and frequency of reporting associated to ESG points. Sixty-eight % shared that measuring and reporting on ESG dangers and points has develop into a part of their finance group’s position inside the final 12 months, and 75% are concerned in conversations with senior leaders and boards to develop ESG metrics towards which their group ought to monitor progress.
“The groundswell of regulatory actions and stakeholder curiosity which have quickened up to now 12 months have made it undeniably clear that ESG reporting is about to develop into one other one of many finance division’s many tasks,” mentioned Wright. “ESG reporting presents a possibility for firms to share what they’re doing to ship sustainable worth for his or her shareholders, whereas additionally addressing the pursuits of their clients, staff and communities.”
Greater than 475 CFOs and VPs of finance participated within the world survey in July and August 2021. Along with presenting findings from these CFOs and VPs of finance, the survey report, titled “Safety, Knowledge, Analytics, Automation, Versatile Work Fashions and ESG Outline Finance Priorities,” additionally shares insights from respondents on the director and supervisor ranges. Comparisons of the variations between the responses by stage present extra insights for senior management. The total survey findings replicate responses from 1,010 finance professionals worldwide at each private and non-private firms throughout a variety of industries.
Survey Sources Obtainable
Key findings of the Protiviti 2021 Finance Developments Survey can be found for digital exploration on the agency’s web site – click on right here to entry. Additionally accessible on the location is a PDF of the complete survey report for complimentary obtain, an infographic, audio commentaries from Protiviti’s finance consulting consultants and a video. On September 29 at 1:00 p.m. EDT, Protiviti will host the primary of three free 60-minute webinars to debate the survey outcomes and their implications, that includes Wright, and Protiviti Managing Administrators Kerry Buchar, Shawn Seasongood and Ken Thomas. To attend the webinar, please register right here.
Protiviti (www.protiviti.com) is a worldwide consulting agency that delivers deep experience, goal insights, a tailor-made method, and unparalleled collaboration to assist leaders confidently face the longer term. Protiviti and its unbiased and domestically owned Member Corporations present shoppers with consulting and managed options in finance, expertise, operations, knowledge, analytics, governance, danger and inside audit by means of its community of greater than 85 workplaces in over 25 nations.
Named to the 2021 Fortune 100 Greatest Corporations to Work For® listing, Protiviti has served greater than 60 % of Fortune 1000 and 35 % of Fortune World 500 firms. The agency additionally works with smaller, rising firms, together with these trying to go public, in addition to with authorities businesses. Protiviti is a completely owned subsidiary of Robert Half (NYSE: RHI). Based in 1948, Robert Half is a member of the S&P 500 index.
Protiviti shouldn’t be licensed or registered as a public accounting agency and doesn’t subject opinions on monetary statements or provide attestation providers.
Editor’s observe: photographs and an infographic of survey highlights (in PDF or JPEG codecs) accessible upon request.