Geopolitical uncertainty, supply chain challenges, and issues related to cash flow and revenue streams in recent years have increased the workloads and raised the profile of finance departments within organizations. As a result, many CFOs and finance departments have become increasingly involved in collaborating on high-level business strategy, according to a survey of 227 executives by Harvard Business Review Analytic Services.
Three-quarters of survey respondents said finance departments play an important role in supporting their organization’s business objectives today. Business teams approve the idea of advancing the role of finance. In fact, survey respondents want finance departments to become even more collaborative and focus even more on strategic activities rather than on traditional nuts-and-bolts tasks such as chasing down receipts.Accelerate your career with Harvard ManageMentor®.