CFO plays a leading role in the financial modeling of all innovation activity and investments.
CFO role in Innovation Management:
- Explore opportunities for cost avoidance, risk mitigation, process improvement and new efficiencies in operational areas of the business
- Assess the costs, return, and risks of new opportunities being pursued to help the early elimination of bad ideas and to identify insights and concepts with the highest potential
- Measure opportunity cost, risk, and outcome of all innovation activity from start to finish
- Measure all innovation pursuits from a financial perspective to ensure optimal decisions that lead to a sustainable business