How CFOs Endeavor to Redefine the Customer Experience: Positivity is a ‘Must-Have’
For the customer experience to truly take hold throughout the enterprise, finance leaders must begin correlating financial performance to their customer experience success, according to the CFO Alliance, a collaborative community of more than 6000 senior financial leaders and decision-makers who come together to share their experience, knowledge and wisdom.
Only then will companies get all customer experience stakeholders on board to work together to achieve a consistent, differentiated experience and to deliver a compelling engagement strategy based upon customers’ needs and behaviors.
Given increasingly competitive and volatile business and economic environments, this is not a simple or easy undertaking for finance leaders to take on. With this in mind, a select group of finance leaders, including Shree Mukhopadhyay, vice president of finance; Steve Sloan, CFO; Pat Grant, president; Thomas Dominique, COO and CFO; Namita Khasat, executive vice president, CFO, and Corporate Treasurer; Peter Nesbitt, vice president of finance; and Matt Lane, CFO gathered together to develop and publish the “CFO Alliance Special Task Force Report: The CFO’s Role in Understanding, Enhancing, and Communicating Value in the Customer Experience.” This detailed report provides finance leaders with comprehensive recommendations on how to approach customer opportunities and issues in today’s ever-changing environment, resulting in a comprehensive, proprietary report by CFOs, for CFOs.
The CFO Alliance’s intention with this report was to help fellow finance executives identify the most efficient and effective ways that they can put customer-centricity at the forefront of their enterprises, not only by motivating and inspiring customer-facing employees and connecting the people who work on the back end but also by linking financial metrics to this effort.
“The good news is that an increasing number of finance leaders and their teams are measuring and communicating their improvements in the customer experience and then linking it to improvements in financial performance,” said Nick Araco, CEO of The CFO Alliance. “As the Special Task Force Members offered, while there is no one standard metric, there are reliable metrics like Net Promoter Score (NPS) and Customer Satisfaction (CSAT).
If finance leaders can commit to capturing the information consistently, they can begin to move the needle. The more important point is that while enterprises need a metric to measure performance, it is critical that they act on it. They need to understand the drivers behind the metric and build processes to advance these drivers.” Learn more and get access to the report at cfoalliance.com.