CFOs taking on greater responsibilities


Pile of MoneyAnd not only that – the new set of strategic responsibilities coming under the purview of those occupying the CFO office are trickling down from very large to mid-level corporations.

According to a study commissioned by automation software company BlackLine and conducted by online publication Middle-Market Executive, CFOs tasks are going beyond their tradition role overseeing financing and accounting matters.

The study noted, “These leading-edge CFOs are being called upon to carefully direct technology investments towards systems that enhance budgeting and forecasting, as well as back-office processes such as account reconciliation and account analysis. Just like their counterparts in larger organizations, CFOs at middle-market companies are increasingly being viewed as ‘agents of change,’ according to the survey of more than two hundred middle-market senior executives from diverse industry sectors.”

“The import of the survey is that just like at large enterprises, the CFO in middle-market companies is riding hard on strategic technology investments that improve decision-making around budgeting, forecasting and the period-end financial close,” said Jack Sweeney, editor-in-chief at Middle-Market Executive.  “Such organizations see value in the adoption of new tools, despite limited financial resources.”