target audience: TECH BUYER Publication date: Jun 2024 - Document type: IDC Perspective - Doc Document number: # US52354624
CFOs Playing the Revenue Game: Understanding How CFOs Can Drive Revenue
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Abstract
This IDC Perspective emphasizes the shift in CFO roles from traditional cost management to strategic revenue growth facilitation. It highlights the importance of adopting modern business intelligence and analytics, strategic financial practices such as cash flow management, and exploring new business models, strategic pricing, and M&A. Furthermore, it stresses the need for finance to align with marketing and sales and invest in new technologies to boost productivity and growth, thereby transforming finance departments into agile drivers of profitability in a competitive landscape.
"In an era during which agility and strategic foresight define market leaders, CFOs are evolving from traditional cost managers to pivotal architects of revenue growth. By embracing modern business intelligence, strategic financial practices, and cross-departmental collaboration, they are steering finance departments into dynamic engines of profitability. This transformation is not just a trend but a necessity for thriving in today's competitive landscape," according to Kevin Permenter, senior director, Enterprise Applications at IDC.