How CFOs can turn any decision dilemma into growth | Accenture
Artificial Intelligence |
The era of enterprise reinvention is here
As the pace of business accelerates, so does its complexity. Traditional organizations are not equipped for today’s rapid changes, and leaders recognize this. According to a recent Accenture survey, 90% of C-suite executives reported that their organizations are undergoing an accelerated digital transformation. Leading companies are leveraging technology, data, and artificial intelligence (AI) to reinvent every part of their enterprise, streamlining operations and driving growth.
Who is often at the helm of these significant transformations? The CFO. Understanding what it takes to speed up interconnected transformations is crucial for successful enterprise reinvention and a vital skill for today’s CFOs.
CFOs are architects of reinvention
Successful reinvention requires making complex, interconnected decisions quickly. While this complexity can unlock significant value, it also introduces higher risks, placing CFOs under unprecedented pressure to make the right choices.
- 68% of CFOs report their organizations are working on three or more transformation initiatives simultaneously.
- 86% state that the pace of strategic decision-making has accelerated.
The paradox of choice
Today’s CFOs have a unique perspective. Their role in maintaining financial discipline, combined with access to advanced analytics, provides them with a comprehensive view across the enterprise, enabling them to connect insights in ways that other C-suite members cannot. Consequently, CFOs now wield more decision-making authority than ever before.
However, they also face an unprecedented number of decisions within tight timeframes, each carrying potential ripple effects in an ever-evolving landscape. This places CFOs at the heart of the “paradox of choice,” where the sheer volume and interconnectedness of options can create more confusion than clarity, often slowing down decision-making rather than speeding it up. This represents a significant challenge for today’s CFOs.
What this means for CFOs and what they need to do now
1- Run and Reinvent Simultaneously
CFOs across all industries must strike a balance between managing day-to-day operations and driving transformation efforts. Achieving this balance while empowering a skilled team is key to success.
2- Evaluate Your Decision-Making Style
The effectiveness of a CFO often lies in their decision-making approach and their ability to foster buy-in from colleagues. Reflect on how your leadership style influences change within your organization and adapt accordingly to enhance its impact.
3- Commit to Relentless Execution
Organizational complexity can impede transformation efforts. It’s crucial to break down obstacles and foster a culture of commitment. Stay laser-focused on achieving measurable outcomes from every strategic decision.
Unlock the secrets to effective decision-making for CFOs. Discover actionable strategies to navigate complex choices and drive business transformation with our comprehensive report. Download now and elevate your financial leadership!
Table of Contents of “How CFOs can turn any decision dilemma into growth” Guide:
- The era of enterprise reinvention is here
- CFOs are architects of reinvention
- The paradox of choice
- What this means for CFOs and what they need to do now
- With great pressure comes great reward
- Enterprise reinvention: a CFO checklist
Number of Pages:
- 20 pages
Pricing:
- Free
Methodology
Accenture Research creates thought leadership about the most pressing business issues organizations face. Combining innovative research techniques, such as data science-led analysis, with a deep understanding of industry and technology, our team of 300 researchers in 20 countries publish hundreds of reports, articles, and points of view every year.
Our thought-provoking research developed with world-leading organizations helps our clients embrace change, create value, and deliver on the power of technology and human ingenuity.
