Finance leaders have a significant opportunity—and responsibility—to spearhead digital transformation. Why? Because our research shows they have further to go and more to gain.
The top roadblocks stopping businesses from reaching their digital transformation goals are workforce skills (38%) and cultural barriers such as trust, transparency, and engagement (35%), according to “Closing the Acceleration Gap: Toward Sustainable Digital Transformation,” our global survey of 1,150 senior business executives. But these figures rise to 46% (skills as barrier) and 56% (culture as barrier) among CFOs.
The survey responses show CFOs have a strong awareness of organizational culture, and they’re poised to effect change:
24% of finance leaders say the most important element they need to accelerate planning, execution, and analysis cycles are technologies that help them to integrate data between disparate systems and break down internal data silos. 21% say technology that unifies financial, people, and operational data is most critical.
“Access to data is the crux of most technology issues in any company,” agrees Jennifer LaClair, CFO at digital financial services firm Ally Financial. “Data needs to be the responsibility of everyone in an organization, and that’s the approach we have taken at Ally—every leader and every employee is