# Now is the time for finance leaders to take on a more strategic and valuable role
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-09-14
Category: FINANCE
Category URL: https://financedigest.com/category/finance
Meta Title: Resurgent Finance Leader Research: Prioritising Revenue
Meta Description: Discover how finance leaders worldwide are embracing new technology and business models to drive revenue growth and act as the strategic hub for vital data.
URL: https://financedigest.com/now-is-the-time-for-finance-leaders-to-take-on-a-more-strategic-and-valuable-rolehtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/graphicstock-protect-company-finances-and-tax-optimization-company-investment-represen-sbi-301985369-4-1-1736837897990-compressed.jpg)

![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/gavin-fallon-450x676-1736837897952-compressed.jpg)

_By_ **_Gavin Fallon_** **_,_** _General Manager at_ [_Board_](http://www.board.com)

If finance leaders were focused last year on reducing the cost of operations, to ensure their enterprises survived the biggest business challenge in a generation posed by a global pandemic, what’s changed today, is finance decision-makers are being challenged now more than ever, to prioritise revenue growth through new technology and business models.

This return to an emphasis on transformation, as well as managing and restoring enterprise financial health, creates a whole new set of challenges, and pressures on finance leaders which have wide-ranging implications across the complete office of finance function.

The C-suite demands acceleration of the digital enterprise, growth, and new genuinely transformative business models as a number one strategic priority. They expect their [finance leaders](https://www.financedigest.com/g7-finance-leaders-pledge-financial-stability-supply-chain-diversity.html "G7 finance leaders pledge financial stability, supply chain diversity") to play a crucial role in making this all happen. The [Resurgent Finance Leader](https://www.board.com/en/document/resurgent-finance-leader-research-report) research amongst 600 finance leaders worldwide, explores the transformation of the office of finance, provides a view from the top and evidence into how well global finance leaders are making progress on these strategic priorities and expectations today.

If the C-suite expect digital technology to transform their industries and are racing to accelerate these plans, then it’s clear the office of [finance will have to rise](https://www.financedigest.com/make-way-for-the-rise-of-the-finance-super-apps-consolidation-of-financial-digitisation-tools-platforms.html "Make way for the rise of the Finance Super Apps – Consolidation of Financial Digitisation Tools & Platforms") to the challenge too and transform fast, in parallel with the acceleration of the digital enterprise. These research findings show how [finance leaders know they have the backing of management](https://www.financedigest.com/how-parents-can-help-students-manage-their-finances.html "How Parents Can Help Students Manage their Finances") to do so, and how business leaders are ready to embrace the finance team, as a key player to support business goals.

The vast majority (94%) of global finance decision-makers surveyed believe their organization’s executive [leadership](https://www.financedigest.com/scottish-finance-minister-kate-forbes-to-run-for-countrys-leadership.html "Scottish finance minister Kate Forbes to run for country’s leadership") are willing to completely rethink traditional finance roles and responsibilities. Further reassurance is taken from the fact that the same proportion (94%) believe their executive leaders are willing to support the office of finance, to become more strategic and accelerate the digital enterprise by enabling the function to become the hub of the of the most [important](https://www.financedigest.com/the-importance-of-strategic-human-resource-management.html "The Importance of Strategic Human Resource Management") strategic asset to the business: Data.

The research findings reveal now is the [time for finance leaders to back](https://www.financedigest.com/love-in-a-time-of-inflation-how-much-will-valentines-day-set-you-back.html "Love in a time of inflation: how much will Valentine’s Day set you back?") their own transformational capabilities and take on a more strategic and valuable role in the business. These [finance decision-makers know the office of finance could be potentially automated out of existence unless it makes the leap from background support function](https://www.financedigest.com/why-do-modern-finance-functions-strive-for-automation.html "WHY DO MODERN FINANCE FUNCTIONS STRIVE FOR AUTOMATION?") to strategic hub for vital data. Perhaps then, it’s no surprise that most [finance leaders agree, it’s time to accelerate the change from being a scorekeeper to performance driver, and finance should be the natural home](https://www.financedigest.com/g20-watchdog-homes-in-on-decentralised-finance-after-ftx-crash.html "G20 watchdog homes in on decentralised finance after FTX crash") for all data.

The [Resurgent Finance Leader](https://www.board.com/en/document/resurgent-finance-leader-research-report) report also shows however, that whilst finance leaders worldwide know now is the time for the office of finance to make the transformational leap to become the strategic hub for driving more value from their data, not all of them are completely convinced their office of finance is entirely ready to drive business decisions, profitability, and performance.

Just under half (47%) of all global Finance Leaders surveyed are totally confident in their office of [finance’s capability to capture valuable insights which drive business](https://www.financedigest.com/1-in-3-uk-businesses-looking-for-finance-are-finding-it-harder-to-get-a-loan.html "1 in 3 UK businesses looking for finance are finding it harder to get a loan") decisions and profitability. The report identifies 62% of finance leaders who [don’t believe](https://www.financedigest.com/1-in-3-adults-dont-believe-school-education-prepared-them-for-adult-life.html "1 in 3 adults don’t believe school education prepared them for adult life") current finance reporting enables them to totally accurately project performance and adapt forecasts in real-time to reflect changing market conditions. Perhaps more concerning, is the report’s evidence highlighting most [finance Leaders (81%) believe how their office of finance uses technology to influence business](https://www.financedigest.com/7-ways-cloud-technology-can-transform-business-finances.html "7 ways cloud technology can transform business finances") decision-making and drive strategy needs a complete overhaul OR a lot of improvement.

Our research evidence shows how progressive finance leaders [know a change is needed](https://www.financedigest.com/4-things-you-need-to-know-about-mortgages.html "4 Things you Need to Know About Mortgages"), with more sophisticated insights and planning capabilities to be able to change and keep on changing, plan for the unexpected, and generate new meaningful insights, beyond traditional budgeting processes, to always plan and be ready for new opportunities when they arrive. The research also shows that despite receiving the validation of their organizations’ leaders, who are ready to embrace the [finance team as key](https://www.financedigest.com/3-key-ways-you-can-transition-from-finance-to-fintech.html "3 key ways you can transition from finance to fintech") player to support business goals, finance decision-makers believe transformation of finance needs to be reflected in wider finance team skills & culture.

Just under half (44%) of all [finance leaders surveyed are totally confident their organization has the right technical skills and talent within the business to ensure technology is driving better business decisions, and a huge majority (92%) of senior finance decision-makers worldwide believe that company culture should encourage the finance team](https://www.financedigest.com/what-skills-and-areas-of-knowledge-should-finance-teams-develop-during-2023.html "What Skills and Areas of Knowledge Should Finance Teams Develop During 2023? ") to be creative, curious, and rebellious, allowing them to think quickly and constantly challenge the status quo.

The [Resurgent Finance Leader](https://www.board.com/en/document/resurgent-finance-leader-research-report) shows there’s a huge opportunity for finance decision-makers who can enable the winning combination of transformative skills, culture and technology across the office of finance to unlock the value of vital data insights, and play a strategic role in shaping the digital enterprise. At the same time, it shows there are still [gaps to fill](https://www.financedigest.com/analysis-energy-hungry-europe-cant-look-to-u-s-shale-to-fill-any-opec-gap.html "Analysis-Energy hungry Europe can’t look to U.S. shale to fill any OPEC gap") when it comes to pulling all these vital elements together.

Thankfully, it doesn’t have to be this way. The [opportunity exists right now for finance leaders](https://www.financedigest.com/how-finance-leaders-can-turn-the-inflation-challenge-into-opportunity.html "How finance leaders can turn the inflation challenge into opportunity") to fill these gaps, starting with democratising access to intelligence, analytics and planning delivered via the cloud, to provide a genuine empowering and transformative experience across finance teams, utilising a winning combination of technology, skills, and culture, to transform the office of finance today and lead the digital finance function of the future.

[Register now](https://www.board.com/en/document/resurgent-finance-leader-research-report) to download the Resurgent Finance Leader report and access the research findings.

**About the author**

Gavin Fallon, General Manager, [Board](http://www.board.com/)

Gavin Fallon is the General Manager for Northern Europe, [Middle East](https://www.financedigest.com/11088.html "Increased Salesforce Adoption in Middle East Drives Triple Digit Growth for 4C"), India and Africa at Board International. Gavin is responsible for driving the businesses strategy in these regions, working with the teams across the organisation to [ensure success](https://www.financedigest.com/strategic-budgeting-ensures-success-of-community-support-programs.html "Strategic Budgeting Ensures Success of Community Support Programs"). With more than 20 years’ experience, Gavin has spent the last 19 years at Board [International working in roles including Head](https://www.financedigest.com/the-hidden-financial-woes-of-international-students-heading-for-the-uk.html "The Hidden Financial Woes of International Students Heading for the UK") of Services & Consulting and Product Director. Prior to [joining Board](https://www.financedigest.com/x-google-executive-to-join-numerous-board.html "x-Google executive to join Numerous board") International he worked as a consultant for SDG Business Consultants. With his passion and experience, Gavin is widely considered an expert in the application of [Enterprise Performance Management](https://www.financedigest.com/managing-mobility-in-the-enterprise-must-have-consideration.html "Managing mobility in the enterprise must have consideration") (EPM) across sales and operations.


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---