‘The future CFO’ research conducted by Xledger, the cloud finance software provider, looked into how CFOs in the education sector are supported as their role evolves. It finds that the vast majority (94%) are still carrying out repetitive tasks and this could be impacting their ability to carry out other aspects of their role. The research found that the more senior you are, the more likely you are to be carrying out repetitive tasks, such as invoice processing and expense claims, rather than spending time on time projects that add strategic value to the organisation. Senior figures (CFOs and Heads of Finance) averaged a whopping 25 hours per week, compared to 15 hours for other finance decision makers.
Some of the top frustrations that CFOs in the education sector cited in their current roles include having to carry out repetitive and manual tasks (35%), bottlenecks in the flow of information (33%), a struggle to demonstrate compliance to regulators (32%) and access to the latest data in real time (32%),
Other key frustrations include too many silos and not…
