Finance leaders face the challenge of balancing traditional responsibilities with the need to modernize the finance function, while ensuring regulatory compliance and driving measurable business value.
According to the EY 2024 Global DNA of the Financial Controller Report, 86%1 of controllers expect significant changes in their roles over the next five years—highlighting the urgency to lead data-driven transformations, not just deliver reports. Yet, disconnected, legacy systems, manual processes and growing complexity across financial, operational and regulatory compliance, create real barriers to agility.
Additionally, there is mounting pressure to provide detailed planning and profitability analysis and reporting, while meeting stakeholders' expectations for transparency. The need to adhere to evolving tax regulations adds another layer of nuance to their roles. Per a recent EY report, 26%2 of controllers foresee a need for entirely new skillsets, while 43%3 of CFOs cited technology transformation as a top investment priority over the next three years. The challenges facing finance leaders underscore the importance of effective data management and swift decision-making in today’s finance environment.