From gatekeeper to innovator: How finance teams are using technology to drive strategic innovation

The role of the Chief Financial Officer (CFO) and finance teams has drastically evolved in the past few years; transforming from the traditional fiscal duties of accounting, expenses and financial planning, to driving innovation to ensure an organization’s long-term financial health. The pandemic exacerbated the demand for CFO guidance to ensure organizations stayed afloat, while maintaining compliance and making tough decisions.

Microsoft conducted a survey among U.S. finance leaders to gain an understanding of how finance teams are working today, the challenges they’re facing, and the importance of technology in their day-to-day lives. The findings, presented in the ‘Economic Guardians of the Future’ report, revealed that CFOs and their teams are now tasked with striking the balance between strategic innovation and long-term financial health of their organizations, all during an uncertain economic climate.

Examples abound of customers who have partnered with Microsoft to use innovative technology to effect change. One example is London Stock Exchange Group (LSEG) who collaborated with Microsoft to develop products that leverage both LSEG’s financial data and analytics, combined with Microsoft’s technology and embedded Office workflows, to bring transformation to the financial services industry.

The research also found

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