How can CFOs rebrand themselves as innovation allies?

CFOs continue to have an innovation problem—or, rather, teams in their organizations think they do. Research shows that many business unit leaders view the CFO and the finance team as obstacles, not allies, to the innovation process.

How the CFO can better support innovation

  • Build innovation goals into the company’s plans for growth
  • Discover and validate untested assumptions about an innovation project
  • Speed up the standard budget process
  • Establish metrics specific to innovation projects
  • Upskill and empower the finance team

The long-standing perception of CFOs as obstacles to innovation is stale—and mostly incorrect. CFOs who perpetuate the old mindsets and processes associated with innovation initiatives may put their organizations’ long-term health and viability at risk. But those who work to become innovation allies stand to boost value creation substantially and to improve both the company culture and the bottom line.

Read the full story from McKinsey here