The Determine
A Corcentric Company.
September 17, 2019

The Evolution of Finance and the CFO, Part 1

The Evolution of Finance and the CFO, Part 1

Determine OutLoud: A two-part conversation with Mark Joyce, EVP and CFO of Corcentric.

In a recently released article and podcast about the evolving role of the CFO, McKinsey & Co. partner Ankur Agrawal and consultant Priyanka Prakash shine an interesting light on enterprise-wide change management in the digital age — from the perspective of finance. Of particular note are the number and range of corporate functions reporting into finance today, and how that shifting scope of responsibilities can stress a CFO’s bandwidth while also increasing their net impact.

CFOs are playing an increasingly pivotal role in driving change in their companies. How should they balance their traditional responsibilities with the new CFO mandate?”

– McKinsey & Co.

To gain perspective on these changes, we spoke with Corcentric EVP and Chief Finance Officer (CFO) Mark Joyce. He has been in his current position for nearly 13 years, and in that time he has had ample opportunities to observe the changing expectations of the CFO role. At the same time, he has been supporting the company’s growth journey while acting upon his unique vision for the future of finance.

Today’s strategic CFOs aren’t nearly as focused on “the pennies” as they used to be. Instead, their time is spent analytically leveraging the company’s data resources, learning from people at all levels of the organization, and ensuring that the operational focus of the enterprise is aligned with the opportunities that exist in the marketplace.

In this discussion, Mark will answer questions such as:

  • How is the role of the CFO changing, and what impact is that change having on the rest of the C-suite?
  • How can a CFO bring their personal vision to bear on finance and on the enterprise while also ensuring that finance as a whole delivers what is needed of them?
  • Given the increased role of long term strategy and planning in finance, where can CFOs go to nurture and develop innovative ideas?

Thanks for listening in, and be sure to check back for Part 2.

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