The most critical challenge for Finance executives is gaining company-wide support for their initiatives. Only 7 percent consider their company "very willing" to help transform their current role into a strategic priority for the business.
"Despite their critical role in the organization, Finance executives are finding a great deal of management resistence in their push for change. They want to be seen as truly strategic outward-facing players rather than just traditional number crunchers," says Dan Zbacnik, National Leader of KPMG's Financial Management Advisory practice.
"Given all of the changes faced by today's executives, we can really help CFOs transform their business's strategy and support business growth by leveraging their company strengths, offering recommendations to streamline their internal resource allocations, and improving their overall budgets," says Zbacnik.
The survey tackles the growing need for CFOs to be welcomed at the early stages of a strategic discussion. This will help the organization make better business decisions, which can increase the company's share price.
- 42 percent of Canadian Finance executives expect a dramatic change in their processes for planning, budgeting and forecasting over the next 2 years.
- 48 percent of CFOs and Finance executives say a shortage of time and attention to improving capabilities is the most serious issue they face, compared to 40 percent of their global counterparts.
- 45 percent of respondents believe dated IT systems are a significant barrier to success. This compares with 48 percent who share a similar view globally.
To arrange a media interview, please contact: Julie Bannerjea, Head of Media Relations/PR, KPMG, at 416-777-3243 or email jbannerjea@kpmg.ca. For a copy of our survey, please click here.
KPMG LLP, the audit, tax and advisory firm (kpmg.ca), a Canadian limited liability partnership established under the laws of Ontario, is the Canadian member firm of KPMG International Cooperative ("KPMG International"). KPMG International's member firms have 140,000 professionals, including more than 7,900 partners, in 146 countries.