Trend #1: The role of finance is changing
Earlier this year, we polled 252 financial and accounting decision makers to determine what major trends they see emerging that will affect the corporate finance function. In this seven-part blog series, we'll examine each of these developments.
Finance, of course, has to produce the financial statements. In the past that was enough. Today, however, the role of finance has expanded. It requires a lot more collaboration. It needs to involve everyone from investors to the business itself to ensure strategic goals are being met and company value is maximized.
The focus varies by company size. Being a strategic partner to the business is especially important to large companies, with one in four seeing it as the primary mission. In medium companies, finance’s mission is about maximizing company value with investors and the board. Either way, this is a big departure from the days when simply reporting the results was enough.