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Top performers spend less time on cost control and more time on decision support?

Many CFOs have clear aspirations to become a strategic partner to the CEO and play a central role in creating value, a goal that entails providing guidance and insight to the rest of the business.

In reality, most finance functions surveyed continue to spend the majority of their time on traditional tasks such as controlling costs, reporting and advising on tax and treasury matters. Almost 80 percent of CFOs at average performing companies in the survey see cost control as a major part of finance’s role. In contrast, only 64 percent of top performing companies in the survey cite cost control as a key focus and they tend to spend more time on decision support activity. They are also more likely to have a strong vision for the finance function and to have communicated this clearly to the rest of the business.

Areas where finance performs a leading role

Content and graph source:  EIU

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