.png)
Read full reportInsights and Strategic Directions from 300 finance leaders in Australia and New Zealand
Factor conducted the CFO Wave of Change Survey with over 300 respondents (CFOs and finance leaders) across Australia and New Zealand from November 2023 to March 2024, identifying their challenges, strategic focus, investment opportunities, and digital priorities.These insights can help industry participants navigate the complexities of the modern financial landscape, develop effective strategies, and achieve sustainable growth in an increasingly dynamic environment.
Key Findings
Interactive and Ongoing Engagement: Finance leaders prefer interactive and ongoing engagement methods to align departmental strategic initiatives with broader financial goals. Collaborative workshops with business unit leaders (38%) are the most common method, followed by continuous feedback loops with departmental heads (30%), and representation in strategic planning sessions (25%).
Preparedness for Global Economic Shifts: The survey reveals that CFOs are not fully prepared to handle global economic shifts.
- A majority feel moderately equipped, with 42% rating their preparedness as a 3 out of 5.This indicates a moderate level of confidence among finance leaders in managing economic changes but also highlights a significant opportunity for improvement.
- Developing more robust risk management strategies and enhancing the ability to respond swiftly to economic fluctuations will be crucial for CFOs to navigate the complex and dynamic global financial landscape.
Addressing Skills Gaps and Organisational Change: Skill development and managing organisational change are critical areas for improvement in promoting financial acumen.
- The most significant challenge faced by CFOs is addressing skills and knowledge gaps(27%), followed by overcoming resistance to change (22%).
- Balancing short-term gains with long-term stability and ensuring accurate and transparent financial reporting (both 18%) are also major concerns.
Revenue Growth and Profitability: Focus on profitability and revenue growth reflect a balanced approach to financial management, where both are pursued alongside efficiency improvements and risk mitigation to ensure long-term stability and success.
- A strong inclination towards strategies that directly enhance financial performance is evident, with revenue growth and profitability (45%) being the key motivation for respondents.
- Cost reduction and efficiency (30%) and risk management and compliance (10%) follow as major focuses.
For more information please click "Read full Report".
Exclusive membership organisation, Factor, has launched a new Research and Advisory arm, aimed at helping both C-Suite leaders and providers in the enterprise and public sectors.
It comes after Factor rebranded at the beginning of the 24/25 financial year, with the new identity representing an expanded vision and commitment to offering top-tier thought leadership and networking opportunities to senior executives across ANZ, Singapore and a number of other countries and regions. Now, the new arm of Factor is being spearheaded by VP and Head of Research Craig Baty and VP of Advisory Partnerships Shayne Arundell.
Factor
With over 30 years of C-level experience in ICT, HR, marketing, sales, operations, market research, and international business, Craig brings a wealth of knowledge and expertise to Factor.
“I’m pleased to be part of Factor’s expansion into Research & Advisory services, and I’m looking forward to sharing actionable insights with our members and providers to guide them on best practices in the market,” says Craig.
Craig has held a number of C-level roles including his own start-up, Global VP Global Marketing and VP Digital Services in Fujitsu Tokyo HQ and CTO & Head of Marketing for APAC. He also served as Distinguished Lead Analyst for ISG and established the Provider Lens research arm in AP. As Group VP and Head of Research for Gartner AP/J and CEO of Gartner Japan he earned the first AP/J Gartner Thought Leadership award, established what is now Gartner for Marketing, and pioneered the Gartner SWOT analysis methodology.
Factor
While, Shayne Arundell, a seasoned leader with a proven track record of success in the APAC region. Bringing over 15 years of Partnerships experience to Factor from FMCG, Fintech and Research and Advisory industries.
Shayne is also a Gartner alumni, previously serving as Director of Enterprise Sales, and as APAC Vice President for Intelligence Cloud at Korn Ferry, both being leading global consulting firms.
“Factor is the newest leader in advisory, backed by fiercely local insights, from an extensive market research database you won’t see anywhere else,” Shayne explains.
Within our expertise Factor will cover a range of topics, including, but not limited to:
- Artificial Intelligence and Machine Learning
- Cyber Security
- 5G Landscape
- Hybrid Cloud
- Technology Profitability
- AU Fintech
- Digital Transformation and Enablement
- CX, EX, UX
Both Craig and Shayne are supported by Factor’s team of experts and analysts, including Director of Insights and Value, Darren Adams, who is a highly regarded professional in the APAC data and analytics space, drawing on his experience in communications, client relations, B2B marketing, data and strategy in the technology sector.
“People are at the heart of everything we do at Factor, and data is our key in transforming their interactions into understandings. I'm excited to share cutting-edge insights and understanding with our community, to help foster deeper, lasting and beneficial connections,” Darren says.
While Factor’s Editor-In-Chief, Madeline Palmer, an expert media professional, oversees a broad range of strategic, editorial, and managerial tasks to ensure the production and dissemination off high-quality research content.
“Our new membership app will be one-stop shop for all technology leaders to connect and learn through events, advisory and multi-media content, and I am looking forward to being part of that journey,” says Madeline.
The Directions™ portal on Factor’s new membership app is a cutting-edge platform, allowing users explore a repository of reports and other content, as well as create their own research visualisations with Factor’s existing database.
Factor’s CEO and founder, Josh Heid, says this new phase for the company is something he’s been working towards for quite some time.
“After six incredible years of empowering and enabling leaders, our rebrand as Factor, coupled with the launch of our Research and Advisory arm, is about offering our members and providers with the best services and products the market can offer,” Josh explains. “I’m very proud of the team at Factor and what we have built.”
For more information about Factor’s new Research and Advisory offerings click below.
