The CFO’s Stake in Data Analytics and Digital Transformations

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There are two types of finance leaders in 2025: those who have embraced technology, and those who have become obsolete.

In the last edition of Executive Edge, we explored how the role of the CFO has evolved in the last 25 years. A job that was once about understanding numbers is now about using financial information to develop and execute organizational strategy.

Data-driven decisions should be at the forefront of all financial decision making. As such, a CFO without data analysis skills cannot hope to lead a company to success. In this article, we will provide insights on how CFOs can leverage data for strategic insights, and communicate it to other members of the C-Suite.

Technology at the Decision Making Table

70% of technology decisions now involve CFOs

Modern finance leaders have a stake and a say in the business’s technological investments. Their priorities differ from other department heads such as marketing and legal, but they recognize the need for solutions that benefit all aspects of the company, not just their own.

The CFO’s involvement in technology decisions ensures that digital investments align with financial goals and deliver measurable ROI. Technological advancement directly impacts financial performance and market competitiveness. This further underscores their role as strategists and advisors.

Leading the Digital Transformation Journey

79% of CFOs stated that leading digital transformation efforts is their top area of focus.

Today’s CFOs lead innovation standards in their field. They take part in the digital transformation process by selecting, implementing, and optimizing digital solutions to core business problems. The tools and software they champion through the selection process should, first and foremost, drive business growth.

Equally important, the process should enable robust financial control standards, mitigate risk, and make cost-saving opportunities obvious. 

A digital transformation is never complete. Companies must be prepared to pivot their strategies as technology advances and new trends shape their customers’ needs. The more agile they are, the higher their potential for profit and market share.

Automation and Digital Integration

80% of CFOs expect their companies to embed more automation and digital technologies into their operations.

The future of finance lies in intelligent automation and digital integration. Saving time, energy, and money by relinquishing certain functions and tasks is never going to go out of style. Forward-thinking CFOs are already mapping out comprehensive digital strategies that encompass everything from routine transaction processing to complex financial analysis.

With the appropriate safeguards in place to protect against data breaches and erroneous reporting, automation is the greatest tool a strategic finance leader can have. The more technology is integrated into business processes, the more room there is in a CFO’s day for strategic initiatives. 

The ability to translate complex information into visual representations of market conditions makes every conversation between the CFO and the rest of the C-Suite more impactful. 

What’s Next for CFOs?

Finance executives with strong and proven data analytics skills differentiate themselves in the market and are best positioned to compete for the top jobs. Companies want to leverage their finance leaders to drive digital transformation initiatives.

There is more on the current trends in finance and accounting leadership in Transcend Search & Strategy’s market report, Finance & Accounting Trends Shaping the 2025 C-Suite.

In the next edition of Executive Edge, we’ll discuss how artificial intelligence is reshaping executive roles in 2025.