The Role of the Chief Financial Officer in the Digital Transformation of Business Models

Wolfgang Becker (), Matthias Nolte and Felix Schuhknecht

Chapter 21 in The Digitalization of Management Accounting, 2023, pp 341-365 from Springer

Abstract: Abstract They were once referred to as the grey mice of corporate management – the chief financial officers who were primarily involved in operations. However, the Chief Financial Officer of the modern era is involved not only in classic forecasts and profitability considerations, but also in risk management and strategic decisions, for example regarding supply chains, pricing and production (Heinen and Noeth, Controlling Manag Rev 2(Sonderheft):6–9, 2010, p. 8 f.). The CFO should also play a central role in the digital transformation of business models, which is one of the most defining megatrends of the twenty-first century. This is because the CFO is responsible for the value creation of the company and, with his or her individual background, is in a position to actively shape organizational structures and processes, and thus the digital business model transformation.

Date: 2023
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DOI: 10.1007/978-3-658-41524-2_21

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