An unfulfilled prophecy
The year was 1985. The Coca-Cola Company introduced New Coke, the first “.com” was registered and Windows 1.0 was released. This was the same year we first saw articles touting the CFO as someone who “needs to be strategic: a business partner and not just a bean counter.”
Business writers still publish these articles today, but it’s time to stop. CFOs know they need to be strategic, and they know they need to operate the finance function. They don’t need an article to tell them that anymore.
They do, however, need clear vision and technology to help them juggle new balls in the finance ecosystem: regulatory changes, artificial intelligence and blockchain. Finance must add these balls to its mix while still juggling its “traditional” responsibilities of internal controls, compliance and closing the books quickly.
If CFOs can master this juggling act, they’ll finally become the “strategic business partners” written about since 1985.
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