Originally published on the Certent Insider blog.
For the past five years, Armanino has surveyed CFOs in [their] Annual CFO Evolution Benchmark Survey, where west coast CFOs are asked about responsibilities, roles and strategic priorities. Based on their responses, market research and their extensive experience as a leading CPA and Consulting firm, they’ve developed an in-depth report titled “Turning Trends to Tactics,” which outlines the findings on these leading trends including IPO, Expansion, M&A, Analysis & Reporting, Mobility, Regulations and Project Management. There is a shift occurring in the CFO role, and Matt Armanino, CFO at Armanino, is surveying the CFO community to better understand what is driving this transformation. Matt explains the survey findings in his article.
Our findings have revealed that the CFO role is generally split into three general categories composed of 25% business leader, 20% business protector and 55% accountant. However, a new, streamlined organization can be optimized through efficient technologies, allowing the CFO function to convert to 30% accountant, 20% protector, and 50% business leader. Thanks to smart, cloud-based automations, the CFO and senior financial team can streamline day-to-day functions, allowing them to become more strategic and visible organizational leaders.
M&A: On the CFO Bucket List
In the story, Matt notes that our survey results revealed that as a CFO, the M&A transaction in particular, can be a “hallmark of an organization that is highly strategic and well-regarded.” It also can be the hallmark of a CFO’s career. In fact, we found that no one is better equipped to take a company to a new level than an experienced and driven CFO.
Help is On the Way
Because of cloud technologies and platform integrations now available to the CFO office, the role can now more readily transition from strictly finance into overall organizational leadership, often as a springboard to the CEO role. For example, with time-saving tools like Certent, available in Armanino’s Equity Management practice, CFOs can greatly decrease the number of hours a team devotes to spreadsheet tracking and accounting of stock options, pre-IPO and post-IPO. Implementing Certent with Armanino saves resources, and establishes a highly scalable equity management solution. Not surprisingly, this makes CFOs and their teams very happy.
Take the Survey
Does this resonate with you? We’d love to hear from you. Take our survey here: CFO Evolution Benchmark Survey.