To excel in their expanding roles and support the growth and success of the enterprise, CFOs and finance leaders must apply their expertise, and their influence, throughout the organization. Doing so requires first-rate leadership competencies and proficiency in engaging a diverse group of colleagues and stakeholders. Cyber concerns present a perfect example of transformation in the CFO role. CFOs and finance leaders who have participated in Protiviti’s annual Global Finance Trends Survey consistently view data security and privacy as a top urgency.  

Our survey findings and analyses will give you a deep, yet nuanced understanding of the top finance priorities as rated by CFOs and finance leaders around the world. Our intent is for you to use this intelligence to design and deploy new practices, tools and innovative approaches in your own finance organization. 

Key findings include:   

• Security and privacy of data is the top priority: New cybersecurity disclosure requirements, rising threats of cyber warfare and extortion, and the soaring value of data assets have restored data security and privacy to the top of the CFO’s priority list, with 61% of finance leaders and professionals rating this area as a high priority in the coming year. 

• Robust FP&A capabilities are now table stakes: Effective and technology-enabled FP&A is now an essential component of nearly all business units and organizational groups, as reflected in its high ranking on the list of finance priorities. This shift places two demands on finance leaders: 1) CFOs need to ensure that colleagues are performing FP&A with appropriate controls, rigor and relevance, and 2) CFOs need to integrate new KPIs into their own FP&A activities. 

• Generative AI moves forward in finance: Leading CFOs and finance organizations are progressing with the use of generative AI applications and other AI tools as they seek to move beyond efficiency gains to achieve higher-value long-term benefits. One in three finance organizations are already employing generative AI, most often to support process automation and financial forecasting. Also of note, 58% of organizations that are using generative AI have achieved meaningful and measurable progress in their cost optimization efforts. 

• Enabling cost optimization is essential: Most finance organizations (57%) have achieved meaningful progress in cost optimization efforts through technology rationalization and the utilization of cloud-based systems. A heightened global risk environment requires CFOs to improve organizational agility and resilience by simultaneously reducing costs and enhancing revenue via advanced finance automation, strategic sourcing and technology enablement activities.