As a follow-up to IMA’s study of management accounting practices in India (“Enterprise Performance Management and the Role of the Management Accountant in India”), Dr. Raef Lawson held a series of CFO roundtables in Delhi, Bangalore, and Mumbai to obtain deeper insights into the evolving role of and challenges facing by the finance function in India today. This report contains the insights from those roundtables.
Key findings include:
- New business models are emerging, requiring changes in how companies organize and conduct their operations, impacting the role of finance;
- A common challenge faced by finance is the need to balance traditional responsibilities with newer ones;
- CFOs and their teams are increasingly assuming the role of a business partner, engaging in activities such as planning, forecasting, and risk management; and
- Talent management is increasingly important as organizations compete for staff with the necessary skills.