In their Q1 2016 Report, Big Data, Better Vision: The Agile CFO, Adaptive Insights, mentions a series of challenges and opportunities that the modern CFO is constantly facing. Amongst the opportunities, addressing different points of view to build a collaborative environment with CEOs seems to be the main aspect that will help CFOs achieve excellence.

According to the report, here are some of the differing opinions between CFOs and CEOs:

65% of CFOs cite technical and analytic skills as top business attributes most beneficial to their performance. However, Only 8% of CEOs determined these attributes to be key.

43% of CFOs determined that big data and analytics will have the biggest effect in the future of their roles. On the other hand, 39% determined that breaking down silos and embedding the finance function across the business unit, would also make an impact.

54% of CFOs believe they must overcome perception as safeguards and not visionaries to assume a CEO role.

However, both CFOs and CEOs agree that CFOs are viewed as too narrowly focused and lacking big picture vision to ascend to the CEO.

So, how can CFOs and CEOs overcome challenges to provide better insights for the company?

Having awareness of where the market and competition are heading is not enough without a strong analysis of the company’s numbers and vice versa. CFOs need to put special emphasis in developing strategic skills, whereas CEOs need to focus on breaking down the boundaries that cause dissonance. Working together is the real goal!

In collaboration with Adaptive Insights, InnoVergent provides the right tools for both CEOs and CFOs to understand the market while also analyzing the factors that will allow them to develop a strategic partnership.

Contact us to learn more about InnoVergent and how our unified cloud solutions can increase collaboration and improve communication within your team.