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

In: The Digitalization of Management Accounting

Author

Listed:
  • Wolfgang Becker
  • Matthias Nolte
  • Felix Schuhknecht

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.

Suggested Citation

  • Wolfgang Becker & Matthias Nolte & Felix Schuhknecht, 2023. "The Role of the Chief Financial Officer in the Digital Transformation of Business Models," Springer Books, in: Imke Keimer & Ulrich Egle (ed.), The Digitalization of Management Accounting, chapter 21, pages 341-365, Springer.
  • Handle: RePEc:spr:sprchp:978-3-658-41524-2_21
    DOI: 10.1007/978-3-658-41524-2_21
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