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Enterprise 4.0: From CFO to CVO

The new role of the Chief Financial Officer in Enterprise 4.0

The next evolution of business is upon us.

In an increasingly global and digital society, technological advancement will continue to play a significant role in the continued progress of entire industries and set the stage for the emergence of new ones. “Enterprise 4.0” is the term used today to define the combination of digital technologies, data, and analysis tools found throughout the design and production chain.

The impact of Enterprise 4.0’s digitalisation will be significant in all sectors such as manufacturing, retail, service, healthcare, utilities, and transportation. The CFO will provide vital support for the company’s strategic and business decisions, with a broader professional horizon and vision enabling him or her, almost naturally, to undertake a growth process potentially leading to the role of CEO.

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Enterprise 4.0
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Become the Chief Value Officer

In the 4.0 era, the CFO has the opportunity to increasingly become a Chief Value Officer, focusing on the creation of value for the business. The next wave of digital technologies will bring profound changes to the responsibilities, size, and shape of the CFO role.

In a 4.0 world, the Finance Department will be a smaller function than it is now, but with more highly skilled staff and more competencies. As companies prepare to further integrate digitalisation into their day-to-day processes, cost-reduction efforts can play an integral role in shoring up the cash flow needed to make necessary investments in new technologies.

Download our full whitepaper which provides more information, details and examples of how the CFO will become the CVO (Chief Value Officer).

“CFOs will shift from their traditional role as administration and finance experts, with technical skills based on administration, management control, cash-flow management, and financial planning.”

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