The survey showed that a majority of the 440 respondents are poised to make the necessary investments and embrace intelligent finance models.

A majority of Indian respondents to KPMG’s latest global CFO research are “very willing” to spend money to improve the effectiveness of their finance function.

An efficient finance function could be a competitive advantage in a globalised environment — a fact acknowledged by senior management of most Indian companies.

As many as 23 Indian respondents — mainly directors of finance and CFOs — participated in the biannual survey of senior finance executives at over 440 organisations worldwide. “The finance organisations of the future, and indeed of today, must go beyond their usual bookkeeping and financial reporting role to become providers of real intelligence that business units can depend on when making strategic decisions,” said Martyn van Wensveen, KPMG’s Global Head of Financial Management Advisory Solutions.

The findings of KPMG’s international survey were released at New Delhi on Friday. The previous global CFO research was conducted in 2011.

The survey showed that a majority of the 440 respondents are poised to make the necessary investments and embrace intelligent finance models. Finance executives globally are looking to transform themselves from their current role as score keepers to one of adding value to business units.

The purpose of KPMG’s global CFO research is to understand the latest developments and trends in the finance function.

All major industries including manufacturing, financial services, chemicals, consumer goods, utilities and energy were covered in this survey.

Most of the Indian respondents were from manufacturing and financial service industry — 56 per cent of the total responses from India.

srivats.kr@thehindu.co.in

(This article was published on October 25, 2013)
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