Office of the CFO
Is your finance department ‘fit for the purpose’ and ‘fit for the future’?

Office of the CFO

Due to COVID-19, CFO’s have come under enormous pressure. Is your finance department adequately resilient? Does your organisation have the right measures to meet the current and future expectations? How (digitally) performant and accurate are the data at your disposal and consequently, its analyses and reports? It is up to the CFO to turn to an integrated and advanced data and finance management that meets the new digital expectations and at the same time, minimises the workload and means. The CFO of tomorrow is undoubtedly a ‘digital CFO’.

In essence, a CFO has to create and increase value. To do so, relevant and accurate data input is needed as well as the right technology to proactively deal with said data with as little effort as possible. A recent survey by Vlerick Business School revealed that many finance managers often do not have the necessary knowledge to apply digital applications. And yet digital transformation is essential to tackle future challenges.

It is, however, up to the CFO to prove that minimal investments can improve efficiency and reliability and that from his data spent analysing data, he can formulate relevant recommendations to improve the profitability and generate future cash flows. In other words, he needs to create (extra) value for the enterprise in order to consider the finance department as ‘fit for the purpose’ and ‘fit for the future’.

A multidisciplinary 360° solution

To evaluate whether the existing resources and strategy suffice to reach those objectives, BDO developed the ‘Office of the CFO’, a onestopshop to assist finance managers in a 360° way, today and tomorrow.

The ‘Office of the CFO’ tool focuses on 4 areas: