40 years of Black Swans
Senior business decision makers and finance executives both placed revenue planning at the top of the list. But from there, priorities diverged.
Finance has earned a seat at the table. However, to keep that seat and remain relevant, it has to re-prioritize its focus to match top business concerns.
Our study indicates that the evolving strategic role for the finance organization is multifaceted. Respondents ranked several business priorities in order of importance.
Both senior business decision makers and finance executives placed revenue planning at the top of the list: 81% of senior business decision makers considered this their top priority versus 78% of finance executives.
From there, priorities diverged. Senior business decision makers were concerned about establishing KPIs and resource allocation, but finance executives saw KPIs as a fifth-level priority and ranked resource allocation second-to-last.
Finance executives and senior business decision makers agreed that risk management ranked fourth-highest on the list of priorities, but where 72% of senior business decision makers saw it as very important, only 62% of finance executives felt the same way.
Finance executives Ranked by very important |
- Finance executives place higher importance on cost reduction and asset management
- Innovation of business models ranks last as a very important business function
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Senior business decision makers (SBDMs) Ranked by very important |
- One hundred percent of SBDMs agree that establishing KPIs and risk management are important business functions overall
- Asset management, a higher-ranking business function among finance executives, falls behind innovation among SBDMs
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