By: Margaret Harrist, Director, Content Strategy and Implementation, Oracle
The role of CFOs is expanding quickly, from traditional finance and accounting responsibilities to becoming the strategic navigator of the business. Many are feeling a growing pressure to make that shift and say that juggling too many responsibilities is their top challenge—even ahead of more traditional concerns like managing cash flow.
In addition to adapting to changing expectations and demands, the vast majority of CFOs expect an economic downturn in the very near future. In a report from Duke University’s Fuqua School of Business and CFO Magazine, more than half of the US CFOs surveyed think the country will slip into a recession by the fourth quarter of 2020; 76% think a recession will arrive by the middle of 2021.
So where should CFOs focus their attention during a time of rapid change? We talked with finance leaders from a range of industries about their most critical priorities in 2020, including: