Amid the shocks of the past few years, CFOs have had to balance offensive and defensive moves to keep their organizations strong. According to a survey by partner Ankur Agrawal and colleagues, CFOs tend to target two key areas for building resilience: improved capability building and advanced technologies, such as automation and real-time reporting.
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A set 6 squares, each totaling 100%, represent the top CFO responses to a question about the most valuable step to improve organizational resilience. The responses were, in order of indicated importance: improved capability building, 44%; advanced technologies, 44%; agile ways of working, 33%; advanced scenario planning, 30%; contingency plans, 24%; and continuous cost optimization, 23%.
Footnote: Out of 11 areas that were presented as answer choices. Respondents were able to select up to 3 answer choices.
Source: McKinsey Global Survey on the CFO’s role, 298 participants, May 9–19, 2023.
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To read the survey, see “CFOs’ balancing act: Juggling priorities to build resilience,” August 31, 2023.