SYSPRO, a global provider of ERP software, has released its third annual Global CFO Survey, which reveals that the role of the manufacturing Chief Financial Officer (CFO) has seen a strategic inward focus aimed at bolstering operational resilience and efficiency in the wake of some unprecedented macro-economic shocks. The study, which was conducted from July to September 2023 and commissioned by SYSPRO, assessed the sentiment amongst CFOs within manufacturing sectors across the Americas, Asia Pacific (APAC), including Australia and New Zealand, as well as Europe, Middle East and Africa (EMEA). The participants included financial leaders across both SMEs and larger enterprises, with the results reflecting the insights of a wide selection of decision makers in the manufacturing sector. Key insights: The study revealed that manufacturing CFOs believe that we are not post-crisis but rather between crises and that this is a situation that is likely to persist. As a result, the vast majority have recognised that their role is evolving into one of a ‘Hybrid CFO’. Shift to Operational Focus: In response to a series of external shocks, including post-pandemic supply chain disruptions, rising material costs, inflation and environmental challenges, manufacturing CFOs are increasingly adopting a hybrid role. This approach emphasises operational efficiencies to mitigate future economic shocks. The research demonstrated that CFOs are increasingly expected to operationalise digital transformation (52 per cent), which again points towards a greater involvement in operational areas. The Rise of the Hybrid CFO: The survey highlights the evolving role of CFOs, who now integrate strategic business knowledge with traditional financial expertise. This hybrid capability is essential for ensuring competitive advantage and requires a deep understanding of all business functions. Survey responses from all regions including APAC showed a high degree of consistency in terms of identifying the core skills and competencies required for a […]