CFOs:DRIVINGFINANCETRANSFORMATIONFORTHE21STCENTURYAreportpreparedbyCFOResearchServicesincollaborationwithCapGeminiErnst&YoungCFOs:DRIVINGFINANCETRANSFORMATIONFORTHE21STCENTURYAreportpreparedbyCFOResearchServicesincollaborationwithCapGeminiErnst&YoungCapGeminiErnst&YoungU.S.LLC5TimesSquareNewYork,NY10036August,2002DearExecutive:CapGeminiErnst&Youngbelievesthatunderstandingmarketfactors,trends,andpeerperspectivesisessentialinmakingdecisionstohelpcompaniesnavigateduringturbulenttimes.Certainly,thepressurethatrecenteventshaveplacedonCFOsandtheirfinanceorganizationshasmadefinanceakeyareaoffocus.PartneringwithCFOResearchServices,CapGeminiErnst&YounghascapturedthevoiceofyourCFOpeersthroughanin-depthstudyfocusedon“What’sbeenkeepingCFOsupatnight?”We’veexploredseveralkeytopics,rangingfromthechangingroleofCFOstotheCFO’smovetomakereportingtransparencyapriorityinapostEnron/WorldComenvironment.Moreimportantly,we’veobtainedresponsesfrom265companies(82%fromcompanieswithmorethan$1billioninrevenues)andconductedin-depthinterviewswithCFOsandseniorfinanceexecutivesdirectly.Wethinkyou’llbeinterestedinlearningwhatthesefinanceexecutiveshadtosay.Surely,you’llwanttothinkabouttheimplicationsforyourownorganization.Pleasetakeafewminutestoreviewyourcopyof“CFOs:DrivingFinanceTransformationforthe21stCentury.”CapGeminiErnst&Youngisoneoftheworld’slargestmanagementandITconsultingfirms.Wearededicatedtocreatingsolutionsthatexceedclientexpectationsanddelivermeasurableresults.ThecompanyoffersmanagementandITconsultingservices,systemsintegration,andtechnologydevelopment,designandoutsourcingcapabilitiesonaglobalscaletohelpbusinessescontinuetoimplementgrowthstrategiesandleveragetechnology.Formoreinformationaboutourservices,visitwww.us.cgey.com/finance.Forquestionsregardingthisresearchstudy,pleasecontactRichdeMollatrichard.demoll@cgey.com(1-917-934-8820)orAlexisMilleratalexis.miller@cgey.com(1-412-644-5352).Sincerely,RichdeMollVicePresident,Finance&EmployeeTransformationCapGeminiErnst&Young©2002CFOPUBLISHINGCORP.AUGUST2002ABOUTTHISREPORTInMay2002,CFOResearchServices(aunitofCFOPublishingCorp.)andCapGeminiErnst&YoungconductedaresearchprogramtoexaminewhatprogresslargeU.S.companieshavemadeintransformingthefinancefunction.CFOs:DrivingFinanceTransformationforthe21stCenturysummarizesthefindingsofamailsurveyof265seniorfinanceexecutivesandinterviewsconductedwith12more.CapGeminiErnst&Young,aglobalmanagementconsultingandITservicesfirm,fundedthestudyandthepublicationofthefindings.Theorganizationsthatparticipatedintheinterviewprogramandagreedtobecitedare:■Allergan■AmericanExpress■ChevronPhillips■Cinergy■Converium■EMC■FairchildSemiconductor■GECapitalEquipmentFinancing■HillenbrandIndustries■INGU.S.FinancialServices■Intel■PublicServiceEnterpriseGroupTheresearchhypothesesforthisreportweredevelopedjointlybyCFOResearchServicesandCapGeminiErnst&Young.AtCapGeminiErnst&Young,wewouldliketothankKarenCohen,RichdeMoll,JohnKarr,andAlexisMillerfortheiranalysisandeditorialcontributions.CFOResearchServicesconductedthesurveyandinterviewprogram.DonDurfeeeditedthereportandLaurenGibbonsPaulconductedfieldresearch.CFOResearchServicesandCapGeminiErnst&YoungaregratefultothemanyCFOsandotherseniorfinanceexecutiveswhoprovideduswiththeirtimeandinsights.CFOs:DrivingFinanceTransformationforthe21stCenturyispublishedbyCFOPublishingCor...
