Corporations are fast becoming data- and analytics-fueled digital kingdoms. The finance organization is best positioned as the source of analytic insight because it can connect market and operational data to financial outcomes. Yet, too many CFOs remain stuck in the role of Chief Bean Counter as compliance, control and accounting activities rule the day. Meanwhile, the enterprise continues to wrestle with a morass of data, analytics immaturity and legacy technology. CFOs must get out from behind the desk, own the enterprise data and analytics agenda, and cut through confusion to drive profitable growth.

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CFOs:
The digital kingdom begs for a strategic ruler

2. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
The digital kingdom
is up for grabs.

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Who is well positioned to rule it?
CFOs.
CFOs have the ability to automate 50—60% of the finance
function.1 That allows data and analytics to become a main
focus of the CFOs’ energies, versus a side task.
1. Accenture Strategy estimates based on insights from client experience.
Digitalization equips Finance to be more predictive
and deliberate.
Since digital finance is all about data and analytics,
finance teams are best positioned as the source of
analytic insight because they can connect market and
operational data to financial outcomes.

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A process-based mindset will
not win CFOs the throne.

5. Advanced leaders are focusing a lens on both today and
tomorrow, forgoing reengineering and instead developing
an entirely new approach focused on outcomes.
The pace of the digital world means nearly all
business efforts should be focused on breaking new
ground or quickly expanding into space created by
a new category.
This puts Finance into a defensive position because
retooling and reinvention change nearly every role
across the function.
While most CFOs acknowledge the need for digital
transformation in Finance, less than half have
developed a strong strategy and plan.2
2. Accenture Strategy Digital Finance Survey, March 2016.
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More than 75% of CFOs believe they are not very well
positioned to meet the needs of tomorrow’s digital business,
requiring a significant change in how they work.2
2. Accenture Strategy Digital Finance Survey, March 2016

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CFOs must lead the
journey to digital ROI.

8. Forward-looking CFOs understand how digital enablement creates business
value quickly. They enable their team to better leverage data and analytics.
The result?
Finance becomes the definitive voice citing which digital
investments deliver value — and setting the digital agenda.
Early movers making a shift are transcending traditional business silos, leveraging
increasingly sophisticated tools and analytic techniques to deliver finance
services differently.
The result is digitally-enabled outcomes such as faster end-to-end transaction
processing times and real-time risk management.
CFOs need to act as chief investor activists, connecting financial planning and
analysis, enterprise data management, and enterprise analytics teams to provide an
end-to-end transparency that guides digital investments and decision making.
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9. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
While 63% of CFOs believe they are best positioned to be the
fact-based voice of reason, leading the journey to ROI,
few are making it an integral part of their role.2
2. Accenture Strategy Digital Finance Survey, March 2016

10. LEARN MORE
about how CFOs can claim the keys to the
digital kingdom with our full report:
Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
CFOs:
The digital kingdom begs
for a strategic ruler