Three ways CFOs find the time to unlock their full potential

Here are the key points summarized in bullet form:

1. Crystalize your strategy and identify where technology can be an enabler:

• Focus on core, strategic issues like new growth sources and risk-adjusted returns
• Ensure disciplined strategy development with clear, measurable targets
• Simplify processes and leverage automation, including emerging technologies like generative AI

1. Focus on big moves:

• Shift more than 60% of annual capital expenditure to different business units every 10 years
• Aim for top industry performance in metrics like gross margin, SG&A productivity, and labor productivity
• Prioritize the biggest strategic priorities like capital allocation, product development, and commercial launches

1. Radically simplify:

• Eliminate duplicative or non-strategic reports and responsibilities
• Map out roles and responsibilities to have the most important details readily available
• Proactively identify the most important issues from the CEO's perspective

The key is to focus on the strategic big picture, leverage technology to streamline processes, and ruthlessly simplify the finance function to maximize impact.

Adapted by By Ankur Agrawal, Meagan Hill, Matthew Maloney, and Abhishek Shirali