Is it time to appoint a Chief Growth Officer in your business?
By Chris Stock, Percipient
Chris Stock examines the increasing demand for the Chief Growth Officer and explains why new market dynamics necessitate new responsibilities.
Not so long ago, company growth looked very different to that which we recognise today. It was almost an expected by-product of having the right long-term strategy, and ‘rinsing and repeating’ in the quest for a consistent outcome.
In many industries, avoiding change—rather than embracing it—was key to achieving steady, acceptable levels of growth. And in a world which knew no different, this was a formula that, broadly speaking, worked.
The Shift in Market Dynamics
Fast forward to today, and things have changed exponentially.
Rising competition, market saturation, rapidly evolving customer expectations (fuelled by social media), and an increasingly complex geo-political and regulatory environment are reshaping how businesses grow and operate.
This means that rather than change representing something to be avoided for fear of upsetting the apple cart, it has become something organisations embrace and seek out opportunities from. In parallel, growth is now tied directly to how quickly and effectively plans are implemented to address the multitude of dynamics at play.
New Roles in Finance Leadership
In line with the demanding nature of the environments in which we now operate, the CFO’s role has evolved from a record-keeper to a value creator. Once focused solely on financial stewardship, today’s CFO is a strategic partner—expected to drive innovation, deliver value, and make data-driven decisions that influence the entire organisation.
But with this expanded remit comes increased pressure. While some finance leaders thrive in this new space, others struggle under the weight of competing responsibilities.
The Rise of the Chief Growth Officer (CGO)
Against this backdrop, we’re seeing a rising number of Chief Growth Officers (CGOs) to lead the charge. In fact, recent research claims that 14% of organisations now have a CGO as part of their executive team. Bridging the gap between traditional financial management and the need for more intelligent and strategic advice to the business, the CGO is focused on understanding the dynamic and variable factors impacting performance, analysing where efforts should be channelled/changes made, and delving deeper into anomalies and trends that hold potential for opportunities.
Modern Tools for Modern Responsibilities
Just as traditional leadership roles have evolved, so too must the tools that support them. Straightforward record-keeping was commensurate with previous business models and almost served to illustrate that nothing major had changed or gone wrong. A steady pace of doing what had always been done was the hallmark of success.
Legacy finance systems and basic accounting software—often reliant on spreadsheets and manual processes—can tell you what has happened. But they fall short in explaining why it happened, or how to adapt based on that insight.
CGOs, therefore, need modern finance systems, such as Sage Intacct, at their disposal to fulfil a new set of obligations. With its ability to assign codes to an infinite number of items and fields for in-depth analysis, dynamic intelligence, and easy-to-view reports at pre-defined levels of detail, Sage Intacct unlocks new possibilities.
This dashboard-centric intelligence effectively acts as a console to react and shift left or right, depending on what is emerging or standing in the way of plans. Its ability to bring scale, agility and intelligence in an easy-to-use interface represents a powerful force, expediting growth potential.
CGO: More than a Buzzword
So much more than another buzz title or trend, the CGO is a strategic response to a rapidly changing business environment.
Against a backdrop of a constantly shifting landscape and unprecedented potential to leverage data to respond to it intelligently, there is a huge opportunity to expedite growth. And with so much data to analyse and contextualise, it’s a much-needed bridge between traditional financial management and new economy demands
Even if appointing a CGO isn’t currently feasible, businesses must still embrace the mindset. Assigning growth-focused responsibilities, aligning them with modern financial tools, and fostering a data-driven culture are critical for achieving both short-term wins and long-term resilience.
Multi-Award-Winning Sage Intacct Partner
At Percipient, we help forward-thinking businesses transform their finance function and prepare for what’s next. Whether you’re considering appointing a CGO or want to modernise your approach to growth, we’re here to help. Take our Sage Intacct tour or book a free consultation with one of our Sage Intacct experts to discover how we can support your journey toward smarter, scalable growth.