Strategic productivity is essential for businesses and organizations aiming to enhance efficiency, improve performance, create more value for customers, and sustain long-term growth to benefit stakeholders.
The finance function’s scope has expanded in recent decades to include IT, digital transformations, and ESG practices, increasing the importance of the Chief Financial Officer (CFO) in driving strategic productivity.
Based on interviews with finance leaders, this report identifies good practices for driving productivity in several key areas of CFO responsibilities. These include the streamlining of finance activities and mobilising global talent offshore; technological solutions such as leveraging AI to automate routine and repetitive tasks; and introducing new work practices such as flexible budgeting and finance business partnering.
The report also emphasizes that collaboration and skills development are crucial for driving productivity.
It concludes that CFOs need to lead by example, partnering with other C-suite leaders to drive efficiency, stability, investment, and development strategies to enhance business productivity.
Authors Irena Teneva, Bart van Ark
