Johannesburg, 13 Aug 2020
What a difference a few months make. We were already witnessing a shift in the CFO’s responsibilities before the outbreak of the coronavirus. Senior financial decision-makers were starting to appreciate the value that modern financial management solutions delivered at a time when everything seemed to be changing: the nature of business, end-users, employees, customer expectations and digital tools.
And then the pandemic happened, accelerating digital transformation and amplifying the associated challenges – especially those around governance, remote working and cyber security. The Sage CFO 3.0 research was perfectly timed, especially for South Africa – the first Sage region to survey CFOs and other senior financial decision-makers about the impact of COVID-19 on their business operations. The results were encouraging, especially in the current economic climate.
Yes, senior financial decision-makers acknowledge that managing a remote workforce and leading a business through lockdown and social distancing is weighing on their minds. That’s understandable, since the world hasn’t seen disruption on this scale before. But what interested us most was the confidence among CFOs that had already invested in cloud-based financial management technology and prioritised digital transformation before COVID-19. Some of these businesses even grew through the crisis. This white paper explores the changing role of the CFO.
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