People skills holding CFOs back

CHIEF FINANCIAL officers are being held back by the relationship between finance and other groups within their company, according to a report by KPMG.

The report, based on interviews with 18 CFOs, found that almost all of the participants cite some form of people challenges as blockages to their success.

CFOs do, at least, recognise that they need to address the issue, with one respondent commenting that the toughest chore finance faces is in communication.

“Their willingness to continually evolve not only adds value to their business; it also fills the missing link in many organisations by improving relationships with other corporate support functions,” said Patrick Fenton, partner and UK head of financial management consulting at KPMG.

The report added that FDs are struggling to assemble and retain finance staff with the right skills to reflect the new demands being placed on the finance function.