Regulatory compliance keeps CFOs from helping CEOs grow companies, says study.
Bogged down by compliance requirements, only a third of chief financial officers are playing an effective role in supporting their CEOs to grow their company, said a study released Friday.
Nearly 50 percent of executives reported that their finance staff is tied up in transactional activities such as processing accounts and tax transactions, said the study released by IBM and the Economist Intelligence Unit.
Meanwhile, only 25 percent of corporate finance employers are focused on performance and growth-related activities, the survey found.
About 890 CFOs and senior finance professionals across various industry sectors in 74 countries were surveyed at companies with revenue less than $1 billion to more than $10 billion.
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