2024 CFO Survey: Challenges and opportunities for Investor-Back CFOs

In collaboration with Cascade Insights, Consero Global conducted a survey of over 100 investor-backed CFOs based in North America. The following is a excerpt from that survey report. You can download the full report here .

The current market landscape is experiencing significant changes due to geopolitical tensions, evolving regulatory landscapes, and the growing emphasis on environmental, social, and governance (ESG) standards. These factors contribute to increased market volatility and elaborate financial reporting demands. To adapt, organizations are investing more in technological advancements, such as artificial intelligence, but are struggling to maximize returns on these investments.

CFOs are increasingly prioritizing streamlining their financial operations. They are focused on establishing solid financial processes, enhancing their finance systems through strategic investments and integrations, and ensuring their teams possess the necessary skills to achieve the financial objectives of their companies.

Partnering with specialized finance and accounting services emerges as a strategic response, equipping CFOs to navigate funding events and audits more effectively, streamline financial closing with AI tools, and mature their finance technology infrastructures.

These partners offer a wide range of services. According to our survey, the most frequently utilized services from finance and accounting partners include:

1. Support for mergers and acquisitions transactions (53%),

2. Financial due diligence (51%),

3. General ledger cleanup (46%),

4. Cash management (43%), and

5. Operational and management reporting (43%).

However, the landscape of finance partners varies, with some focusing on specific investor types, others emphasizing technology and digital transformation, and yet others concentrating on CFO advisory services and staff augmentation support.

Finance-as-a-Service (FaaS) represents a more holistic approach, integrating the essential components required for a robust finance and accounting function: skilled finance experts, comprehensive finance systems and technology, and streamlined processes. FaaS extends beyond basic transactional bookkeeping to offer a full suite of services. This includes CFO support and advisory services, technical accounting and general ledger cleanup, financial planning & analysis, and staff augmentation.

Download the full 2024 CFO Survey here: https://conseroglobal.com/2024-cfo-survey/

To learn more about Consero Advisory Services, visit our website here: https://learningcenter.conseroglobal.com/consero-advisory-services-li