Read the most interesting results from the TCS CFO Study survey of senior finance executives in North America, UK and Europe to see who is leading the way in creating agile, real-time organizations.

1. TCS 2020 CFO Study
How Future-Ready CFOs
Are Driving Real-Time
Business Performance
December 2019
Key Findings Report
Empowering the enterprise with data-driven
financial insights
TCS Business 4.0™ Institute

2. TCS 2020 CFO Study Key Findings
The TCS 2020 CFO Study asks:
How Can Futurist CFOs Play a Strategic Role to Transform
Their Traditional Business to Gain Real-Time Insights?
• Transform enterprise data into real-time insights that
drive growth across the entire business?
• Manage organizational change, control, responsibility
and accountability to support future-ready digital
business models?
• Leverage new technologies—like blockchain, analytics,
machine learning and AI—to enable new forecasting
models and create a truly agile
finance organization?
• Become a catalyst for growth?
• Embed front-to-back transformation?
• Assess new technological investments?
More than 500 CFOs in North America and Europe were asked
if their finance organizations are able to:

3. TCS 2020 CFO Study Key Findings
The TCS 2020 CFO Study asks:
Technology-enabled business model evolution
Capital allocation for digital transformation initiatives
New product and service development
Embedding new cultures and ways of working
Enterprise-wide analytics governance
Enterprise-wide data governance
Blockchain evaluation and adoption
Non-traditional risk management
Enterprise-wide talent management

4. TCS 2020 CFO Study Key Findings
Which Skills Do CFOs Currently Possess and Which Ones Will They Need in
the Future?
Soft
skills
Core financial
capabilities
Lateral &
Innovative thinking
Long-term strategic
planning
Understanding of
advanced technologies
Enterprise-wide
data analytics
Process
optimization
Data modeling
& simulation
Change management
delivery strategies
Data
governance
Future vs Current
Read More

5. TCS 2020 CFO Study Key Findings
The Future-Focused CFOs Get These Basics Right
45%
35%
37%
30%
36%
29%
35%
31%
Long-term strategic planning
Understanding of advanced technologies
Core financial capabilities
Enterprise-wide data analytics
Futurist leaders vs Traditionalist followers
Read More

6. TCS 2020 CFO Study Key Findings
Are CFOs Satisfied With Their Organization’s Task-Performance Speed?
Financial
reporting
Moving talent
to higher-value tasks
Freeing cash for
growth initiatives
Adjustment of
budget forecasts
Adjusting
customer-facing messaging
Monitoring & optimizing
supply chain
Futurist leaders vs Traditionalist followers
Read More

7. TCS 2020 CFO Study Key Findings
What Are the Effective Ways of Changing Employee Behavior?*
47%
43%
42%
42%
38%
35%
34%
Empowering internal teams for digital change
Adding new performance metrics
Establishing cross-enterprise
key performance indicators
Investing in employee education and training
Appointing employees to pilot
new applications
Incentivizing executives to take
on unfamiliar tasks
CEOs sponsor change management strategy
*All respondents, both futurists and traditionalists
Read More

8. TCS 2020 CFO Study Key Findings
Which Employee Skills Are Expected to Deliver the Most Value in 2025?
Analytical skills Finance modeling Traditional finance & accounting skills
46% vs 39% 43% vs 37% 37% vs 32%
Advanced data visualization Data science Commercial acumen
36% vs 35% 32% vs 35% 29% vs 30%
Communication/influencer skills Ability to innovate General management
29% vs 30% 28% vs 33% 22% vs 29%
Futurist leaders vs Traditionalist followers
Read More

9. TCS 2020 CFO Study Key Findings
Between Now and 2025, CFOs Predict These Aspects of Forecasting Will Be
Most Important and Most Difficult to Estimate
Technology evolution Financing/capital Customer demand
Payments landscape Business partnerships
40% | 28% 39% | 24% 29% | 29%
28% | 27% 26% | 27%
Most important | Most Difficult
Read More

10. TCS 2020 CFO Study Key Findings
What Are the Benefits of Agile Finance Planning & Analysis (FP&A) Systems?
38%
21%
25%
30%
16%
27%
33%
24%
24%
34%
15%
16%
Creates better quality data
Encourages collaboration across business functions
Enables modeling and analysis of
future business scenarios
Better strategies of decision making
Enhance C-suite collaboration
Responsive cost control across different business
functions
Enhanced ability to measure ROI
Aids integration of newer technologies
Strengthens recruitment pipeline
37%
26%
25%
Overcomes workforce resistance
to new ways of working
33%
21%
20%
19%
20%
Futurist leaders vs Traditionalist followers
Read More

11. TCS 2020 CFO Study Key Findings
What Is the Level of Confidence in Business 4.0 Technologies?
Cloud
94% | 56%
Advanced analysis
94% | 59%
Automation
93% | 57%
AI/Machine learning
92% | 58%
Internet of Things (IoT)
90% | 48%
Blockchain
88% | 51%
Futurist Leaders | Traditionalist Followers
Read More

12. TCS 2020 CFO Study Key Findings
How Often Are CFOs Able to Easily Access Their Data?*
Never
Rarely
Always
Ad hoc
1%
16%
35%
49%
Read More
*All respondents

13. TCS 2020 CFO Study Key Findings
How Confident Are CFOs With Forecasting Investment
Requirements for New Technologies?*
84%
70%
57%
47%
Within 12 months
Between 1 and 3 years
Between 3 and 7 years
More than 7 years
Read More
*All respondents

14. TCS 2020 CFO Study Key Findings
CFO Leaders Predict the Following Business Benefits
of Blockchain by 2025:
More reliable data 45% | 27%
Futurist Leaders | Traditionalist Followers
Enhanced IT security 41% | 47%
More traceability/ predictability in supply chain 47% | 40%
Greater transparency in transaction history 43% | 32%
Read More
Lower business costs 32% | 44%
Improves customer relationships 39% | 40%
Greater efficiency in handling payments 41% | 35%
More mutually beneficial supplier relationship 34% | 34%

15. TCS 2020 CFO Study Key Findings
Survey Methodology
Read More
500+
CFOs
60% North America
40% Europe
13
Sectors
$1 Billion
Annual Revenues
Read the full 2020 CFO Study now

16. Copyright © 2019 Tata Consultancy Services Limited
TCS 2020 CFO Study
How Future-Ready CFOs
Are Driving Real-Time
Business Performance
Download the full survey
Read the Key Findings Report now-
Empowering the enterprise with data-driven
Financial insights
Copyright © 2019 Tata Consultancy Services Limited