The chief financial officers of the U.S. are looking in new directions this year to help their companies grow, according to The Wall Street Journal.
The publication held its 2016 CFO Network conference last week, during which executives were placed into five groups to discuss current market trends and their priorities under those developments.
One group, The Fintech Revolution, identified several areas in which CFOs can better perform amid this era. According to WSJ, this includes having a game plan.
“Every CFO should have a FinTech strategy,” the group stated as priority number three. “The growing FinTech market calls for CFOs to have a plan for how to best leverage these evolving technologies for their business. Because if you’re not, your competitor is.”
Priority number four, according to reports, involves corporate payments.
“Improve B2B payments and pricing,” the priority states. “Use FinTech to replace antiquated business payments processes with more streamlined tech solutions, while also bringing down costs.”
Top goals for CFOs involving the rise in FinTech also include deploying technology for business intelligence and using cloud solutions to streamline workflow.
This group consisted of Liquidnet Holdings CFO William Maw, Options Clearing Corp. CFO Kimberly J. McGarry and PayPal CFO John Rainey.
The other groups had CFOs discuss their strategies for growth and improving performance for future investments, improving corporate reputations, improving the role of the CFO and maintaining security amid cyberthreats.