A new study conducted by IBM finds that chief financial officers have gained a lot more influence in organizations as a result of the recent financial crisis, but they often lack the tools and insights needed to make effective decisions.

The survey, based on the responses of 1,900 CFOs worldwide, found that the recent global economic downturn was “a pivotal event—but perhaps not in expected ways.” CFOs were under the gun to deliver urgent fixes during a tough economic slog. “Volatility and uncertainty also drew them into more frequent boardroom conversations about forecasts, profitability, risk management and strategic decisions related to supply chains, pricing and production.”

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