2 weeks ago
CFOs Want More AI Time, Less Financial Reporting: Survey
The people who manage a company's money are called chief financial officers, or CFOs for short.
A new survey asked 150 CFOs in India what they want to spend their time doing.
Many CFOs say they are tired of just writing reports about money.
Instead, they want to help their companies make big and important decisions.
They also want to use smart computer tools, like artificial intelligence, to do boring tasks automatically.
Three out of four CFOs want to spend more time on automation.
Most of them also plan to spend more money on new technology.
More than half of them want to hire new workers who know how to build and use AI tools.
The survey shows that CFOs want to focus on the future of their companies, and not just look at the past.
A Grant Thornton Bharat survey of 150 CFOs and finance leaders across Indian industries shows leaders want to move beyond financial reporting toward higher-value, forward-looking work.
Strategic planning and decision support tops CFOs' priority list, followed by business partnering with leadership and the board, and technology, automation and systems initiatives.
75 per cent of respondents expect to devote more time to automation, while over 70 per cent plan to increase their investment in technology.
More than half of respondents plan to hire workers with AI and automation expertise over the next 12 months.
Talent leadership and team development rank at the bottom of CFOs' priorities, and ESG and sustainability matters are also not of great importance to them.
- Who
- 150 CFOs and finance leaders from different industries in India, surveyed by Grant Thornton Bharat.
- What
- A survey found CFOs want to spend more time on AI, automation and strategic work and less time on traditional financial reporting.
- Where
- India, with the report filed from New Delhi.
- When
- Findings were published this month.
- Why
- CFOs want to move beyond operational oversight toward higher-value, forward-looking work as business expectations grow.
Key facts
- Survey
- India Finance Leaders Barometer
- Conducted by
- Grant Thornton Bharat
- Respondents
- 150 CFOs and finance leaders across industries
- CFOs expecting more time on automation
- 75 per cent
- Respondents increasing technology investment
- Over 70 per cent
- Respondents hiring AI/automation expertise
- More than half
- Top time priority
- Strategic planning and decision support
- Least preferred hiring skills
- Risk management, ESG strategy and implementation, change management
Quotes
Partner and CFO Advisory Leader, Grant Thornton Bharat
Finance advisory partner at Grant Thornton Bharat
“The conversation around the CFO’s role has evolved significantly over the last decade. Today, few organisations question whether the CFO should be a strategic advisor, as the expectation is already there. The challenge is that many finance leaders continue to operate within delivery models designed for a far more operational mandate.”
theprint.in
“As business expectations grow, organisations must rethink how finance is structured, governed and enabled so CFOs can spend more time shaping decisions rather than managing processes.”
theprint.in
Sources
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