Each year, C-level executives from Evanta’s exclusive communities partake in our proprietary Leadership Perspective Survey to share their priorities, challenges and investment areas for the year ahead. These insights enable us to highlight key trends and develop relevant content based on the real-time needs of our members.
In 2024, Evanta’s CFO communities are committed to evolving the finance function from both a technology and personnel perspective. Advancements in artificial intelligence (AI) are a driving force behind CFOs’ transformation efforts, as they aim to improve digital competencies both within the finance organization and across the enterprise.
More than 100 CFOs shared their most critical priorities and planned spend for 2024 in our annual survey – here’s what they are reporting.
Operating Budgets are Steady or Increasing
Although many organizations may still be recovering from economic headwinds, CFOs’ operating budgets indicate an optimistic outlook. Eighty percent of CFOs report that their budget has either stayed the same or increased this year, while only 20% say that their operating budget decreased from 2023.
CFOs Plan to Spend More This Year
Almost half of CFOs (43%) disclose that their planned spending on technology and services will increase in 2024. Close behind, 42% of CFOs say that their spending will remain the same this year. Only 15% share that their planned spending will decrease this year.
CFOs Plan to Invest in Data & Analytics and AI
For the second year in a row, data and analytics is the top spending area for CFOs, with 52% of CFOs planning to invest in it in 2024. On a similar note, AI and automation tools – a new addition to the survey this year – is the next highest spending area, with 48% of CFOs indicating they will invest here this year.
Spearheading Finance Transformation in 2024
CFOs planned spending for 2024 closely aligns with their mission critical priorities. Planning and executing finance transformation jumped to their top priority for the year, and AI and process automation made its way onto the list for the first time, coming in at number 5.
Topics of Interest
In addition to their top focus areas, CFOs share what they most want to discuss with peers and solution providers at Evanta events. These are the trending topics for CFOs for 2024:
- Generative AI in Finance
- CFO Role Evolution
- Leading through Organizational Change
- Innovating for the Future
- Workforce Management
To learn more about sponsoring Evanta C-level communities and programs and how our proprietary insights can help your message resonate with C-level decision makers, contact us.
Based on 100+ CFO responses from Evanta’s proprietary Leadership Perspective Survey, June 2024.
by CFOs, for CFOs
Join the conversation with peers in your local CFO community.
