Navigating to growth: The CFO in oil and gas
27 September 2018
27 September 2018
Providing advanced insight to the organization means CFOs should take greater ownership over data, across the entire enterprise. More than eight in 10 oil and gas CFOs (84 percent) agree that the CFO should be the ultimate authority on an organization’s data.
In the immediate future, the priority will be to bolster the established skills base with talent that can help the business understand and accept a bold new narrative. In our survey, the clear majority (86 percent) believe that data storytelling is an essential attribute for today’s finance professionals.
Our research suggests that finance teams in oil and gas are using technology to drive even greater efficiencies, allowing their people to create additional value. The overwhelming majority (91 percent) say digital technologies will lead to more self-service reporting, eliminating the need for much traditional finance.
To navigate an uncertain environment, oil and gas businesses need advanced insight into the risks and opportunities on the horizon.
As oil and gas CFOs look to the future, our findings suggest there are three priorities to bear in mind:
The oil and gas industry is entering a period of unprecedented volatility and change. This new research helps CFOs and finance teams ask the right questions and lead the way in providing needed vision, guidance and insight.
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Accenture carried out a quantitative survey of more than 700 CFOs and senior finance executives, including 69 from energy businesses, as well as a separate survey of 200 up-and-coming finance professionals.
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We also conducted almost 50 qualitative interviews with CFOs, CEOs and CDOs.