CFOs and senior finance executives are dealing with a growing number of responsibilities and demands as a result of the novel coronavirus pandemic, according to a new report.
The report, from consulting firm Protiviti, found that the pandemic has been a wake-up call to finance departments that weren’t already investing, or weren’t investing enough, in cloud-based systems as they have struggled to shift to the remote work environment. Eighty percent of the 1,057 finance leaders surveyed ranked security and privacy of data as a top priority, while 78 percent cited enhanced data analytics, and 72 percent cited cloud-based applications.
Emily McGinn is the general manager of the MGA business unit at Vertafore. McGinn is a seasoned business and technology leader and has driven growth and transformation across finance, operations and digital initiatives. Previously, McGinn held senior roles at Windstream, Lumen Technologies and Zayo Group, where she led large teams, improved efficiency and fostered innovation.
Natasha Holiday is Managing Director, Co-Head of Infrastructure East, RBC Capital Markets, where she structures debt and sells bonds in the public markets to raise capital on behalf of large city and state governments to fund public infrastructure. She served as MSRB Board Chair for the 2026 fiscal year.
Lisa McCurdy is the founder and managing partner of The Wealth Counselor, a boutique estate and asset protection law firm serving high net worth families with complex, multigenerational wealth. She is also the founder and CEO of Defining Legacy Group.
Of those respondents who are CFOs and vice presidents of finance, 72 percent ranked cloud-based applications as a top priority to address over the next 12 months. Seventeen percent ranked cloud-based applications as the most important finance priority for their organizations to address, signifying a big jump from the 8 percent of respondents who indicated so in a similar survey by Protiviti last year.
“Having the right technology infrastructure and cloud capabilities is now considered a baseline in order to operate effectively and efficiently and will continue to be as organizations move into a hybrid work environment,” said Chris Wright, managing director and global leader of Protiviti’s Business Performance Improvement practice, in a statement. “COVID-19 disruptions underscored the critical nature of a truly digital finance workforce and companies without advanced technologies and digital processes faced a difficult transition to remote work. We’re now seeing an increasing number of boards and CEOs tap their finance leaders for guidance about whether their organization is allocating enough resources to their technology infrastructure.”
Labor models are changing, in part as a result of the pandemic, with 18 percent of the finance leaders surveyed saying their organizations are relying on managed services providers, while 29 percent are augmenting their staff to handle financial planning and analysis with greater speed and agility.
