We are pleased to present the CFO Report, an independent study on the progress that companies in Belgium and other countries across Europe have made in developing finance business partnerships.
Focused in the past on daily accounting tasks, finance executives are increasingly being asked to collaborate with other parts of the business through finance business partnering, whereby the finance function provides support for strategy development and decision-making across the whole business. This expanded role infuses greater rigour into a company. But it requires a different set of skills from those traditionally deployed in a finance department, and these can be challenging to find or develop.
This report examines the progress that companies in Belgium and other countries across Europe have made in developing finance business partnerships, and the problems faced in embedding such partnerships within the organisation. This paper focuses primarily on the responses and insights from companies in Belgium, but also compares these findings where relevant with those from other European countries.
of Belgian executives agree that the shortage of talent is the most significant barrier to building an effective business partnering team.
of Belgian executives are looking to form stronger partnerships between finance and other parts of the business.