The CFO Alliance Blog

The Importance of Enhancing the Relationship Between Finance and Sales

"Repairing the finance and sales relationship in business is key to success," writes Kirsten Levermore in Dialogue Magazines "Confessions of a Power Couple" article, which showcases findings from The CFO Alliance 2018 Sentiment Study. The Sentiment Study highlights a number of important statistics that give insight into why the relationship between finance and sales is suffering in mid-market enterprises. 

  • More than half of finance executives believe current performance, lack of competency and thin bench strength of existing sales talent is the key barrier to overcome in order to meet or exceed revenue growth objectives in 2018
  • 77 percent of survey respondents feel their enterprises are less than effective at converting qualified leads to sales
  • Only 36% of respondents find their enterprise is 'very effective' at securing and ensuring the loyalty of their current customers and clients 
  • Two-thirds of finance executives would like to upgrade current sales talent 

"I think the results are indicative that finance doesn't think it is collaborating well enough to aid sales in its efforts," says our President, Greg Wood. This provides finance leaders with the opportunity to work together with sales to bridge this gap and be a catalyst to accelerate them in their efforts. The 2018 Sentiment Study shows that finance leaders are heavily investing in technology and automation this year, which will make it easier for their sales teams to access reports, utilize dashboards and analyze data. All of these technology outputs will provide sales teams with valuable insights that can aid in their efforts to identify and close the most qualified leads, which will in turn help to mend the trust issues between finance and sales.

To view this article in it's entirety, visit Dialogue's online publication.

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