Future CFO: The Essential Role of Cross-Functional Collaboration in Agility
Agility requires cross-functional collaboration
In today’s dynamic financial landscape, Future CFOs must prioritise cross-functional collaboration to foster agility and move away from siloed processes. Adopting agile methodologies in finance significantly enhances agile financial planning. Premal Parekh, a GENCFO Exec Member, aptly states, “You’re only as strong as your weakest link. Cross-functional working is critical for agility.”
Overcoming Traditional Hierarchies
Traditional hierarchies hinder moving away from siloed structures. Sarah Courtman, a GENCFO Exec member, notes that even with collaboration tools, people revert to old practices. While tools encourage collaboration, motivation to change is essential. Without it, people return to siloed work.
The Importance of Collaboration in Finance
Christine Fromont, a GENCFO Exec Member, highlights the essential nature of collaboration in finance. She states, “Finance is the backbone of the organisation, relying on every function to perform.” This integration is crucial for agile financial planning.
Addressing Cultural and Organisational Barriers to Agility
Adopting agile approaches in finance faces cultural and organisational barriers. Sarah emphasises the need for change management and understanding diverse motivations. “The CFO must invest in change management training and provide incentives for change,” she explains.
Involving All Stakeholders in Agile Transformation
Baron Anyangwe, a GENCFO Exec Member, suggests involving all stakeholders to address challenges. Effective agility needs to consider all stakeholders' impacts. Collaboration ensures comprehensive solutions, vital for agile financial planning.
Communicating the Challenges and Benefits of Agility
Christine adds that clear communication is critical. “You need to tell them it’s not easy, but benefits outweigh the investment.” Trial and error are part of being agile, with transformation benefits outweighing challenges. Messaging this effectively is essential.
The Role of Individuals in Promoting Agility
Individuals play a pivotal role in promoting agility in finance. While technology drives transformation, professionals must adapt and overcome scepticism. Cross-functional collaboration and a collaborative approach are key to agile financial planning. Agility is essential for modern finance teams to thrive and stay competitive.
By focusing on these aspects, Future CFOs can lead their organisations towards greater agility and success, ensuring they are well-prepared for the challenges of the modern financial landscape.
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Author
“Chris Argent isn’t here to play by finance’s old rulebook - he’s here to rewrite it.” From challenging outdated corporate thinking to rallying finance leaders around a more connected, adaptable future, the founder of GENCFO is leading a quiet revolution in how CFOs and finance leadership work, think, and influence. Chris Argent, founder of GENCFO, is a finance leader redefining the role beyond business partnering. A self-described “reluctant accountant,” he’s built a global community for progressive accounting and finance leaders who value connection over competition and action over tradition. Chris believes the greatest risk to the profession is clinging to outdated norms, and that mindset and adaptability outpace any technological change. His work champions leaders who turn new ideas into real-world change, blending people-centred strategies with new ways of working and technology. In conversations, he challenges, provokes, and inspires - proving that the future of finance belongs to those ready to lead it together.