# More Than Purse Keepers and Risk Managers, Modern Cfos Are Driving Customer Experience With Data
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-07-20
Category: FINANCE
Category URL: https://financedigest.com/category/finance
Meta Title: Study Reveals CFOs Driving Customer-Obsessed Initiatives
Meta Description: Discover how finance leaders are prioritising customer-focused initiatives for increased revenue and customer satisfaction in this insightful Dun &
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URL: https://financedigest.com/more-than-purse-keepers-and-risk-managers-modern-cfos-are-driving-customer-experience-with-datahtml

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**Fifty-three percent of finance leaders surveyed report being responsible or accountable for customer-focused initiatives**

In a study released today, Dun & Bradstreet revealed data that uncovers the changing role finance leaders play in stewarding their organisation’s customer experience, a mandate traditionally viewed as one of the chief marketing officer. Because positive business results are often fuelled by great customer experiences, chief financial officers are increasingly using data and analytics to become customer-obsessed to ensure their organisation’s customer strategy is rooted in insights that will drive favourable outcomes.

The Customer-Obsessed Finance Leader, a study commissioned by Dun &Bradstreet and conducted by Forrester Consulting, found:

- Thirty-six percent of company finance executives surveyed were identified as customer-obsessed Leaders, making customer-focused initiatives a [top priority this year and reporting](https://www.financedigest.com/metro-bank-former-top-bosses-fined-over-reporting-error.html "Metro Bank, former top bosses fined over reporting error") increases in customer acquisition, retention, and satisfaction.
- Customer-obsessed finance Leaders reported year-over-year increases in revenue, profitability, and cash-flow at a [rate of 10 to 30 percentage points](https://www.financedigest.com/ecb-goes-big-with-50-basis-point-hike-ending-negative-rates-era.html "ECB goes big with 50 basis-point hike, ending negative rates era") greater than their less advanced peers.
- Data and insights-driven companies are 39 percent more likely to report year-over-year [revenue growth](https://www.financedigest.com/blood-bag-tube-sealer-market-to-witness-excellent-revenue-growth-overview-emerging-trends-and-forecast-by-2028.html "Blood Bag Tube Sealer Market to Witness Excellent Revenue Growth, Overview, Emerging Trends and Forecast by 2028") of 15 percent or more.
- Seventy-nine percent of customer-obsessed Leaders indicated that their organisation will likely increase spending on [technology applications to support](https://www.financedigest.com/meeting-of-minds-using-technology-to-reimagine-mental-health-support.html "Meeting of minds: Using technology to reimagine mental health support") customer engagement.
- Implementation of a customer-obsessed strategy requires mastery of seven [data competencies that must be aligned](https://www.financedigest.com/becoming-data-ready-for-mtd-for-corporation-tax-aligning-vat-and-ct.html "Becoming data-ready for MTD for Corporation Tax: aligning VAT and CT") across people, processes, and technologies.

CFOs, with their leadership position, cross-organisational perspective, and ability to understand complex sets of data, are uniquely positioned to implement insights-driven behaviours and processes within their organisations. Investing in the right tools and technology, as well as augmenting internal data with third-party data and analytics are some of the [key actions leading](https://www.financedigest.com/chondroitin-market-overview-analysis-by-top-players-product-segments-market-size-and-leading-key-players-2022-2029-2.html "Chondroitin Market Overview & Analysis by Top Players, Product Segments, Market Size and Leading Key Players 2022- 2029") finance executives are taking.

Challenges to becoming truly customer-obsessed persist; disconnected strategies within the organisation, disparate data, inconsistent metrics, and a lack of [investment in technology are among respondents’ most cited](https://www.financedigest.com/ford-delays-spanish-investments-citing-revised-outlook-for-europe.html "Ford delays Spanish investments, citing ‘revised outlook for Europe’") obstacles.

The study further outlines seven critical data competencies to master, qualities and resulting metrics that [set customer-obsessed finance](https://www.financedigest.com/uks-finance-minister-sets-out-new-economic-approach-to-finance-bosses.html "UK’s finance minister sets out new economic approach to finance bosses") leaders and followers apart, and how-to strategies to focus efforts around using data and analytics to become a customer-obsessed organisation. Download a copy of the full study: http://www.dnb.co.uk/perspectives/finance-credit-risk/improve-customer-experience-with-data-analytics.html

The survey, fielded within North America, Europe, and [Asia Pacific](https://www.financedigest.com/the-asia-pacific-alopecia-treatment-market-to-throw-its-innovation-based-weight-around.html "The Asia Pacific Alopecia Treatment Market to throw its innovation-based weight around") in February 2017, included feedback from 250 finance executives (CFOs or EVPs of finance) from companies in multiple industries generating $150 million or more in revenue.


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