This first edition of the survey of Romanian Chief Financial Officers carried out by KPMG in Romania took place at the end of 2017. We aim to identify the current challenges of the Romanian business environment and to provide insight into Romanian CFOs' perspective on the contribution of the finance function to the growth of their companies.
As a key chief executive, the role of the Chief Financial Officer in organizations is crucial in the efficient management of finance and accounting, and capital management, corroborated with their well-defined role in business strategy and data analysis.
The four main issues considered important by Chief Financial Officers within their organizations were the following: maintaining profitability, the battle for talent, and efficiency improvement through automation and taxation. The role of today’s Chief Financial Officers is fundamentally changing. Their activity is not limited to checking figures, revenues and expenditures, since executive directors have higher expectations of the performance of Chief Financial Officers, such as a mix of analytical and operational competencies, cooperation with the other chief executives, diverse experience and proactive involvement in defining and execution of the organization’s business strategy.
Operating companies in an increasingly complex environment is a challenge for Chief Financial Officers, who must stimulate innovation