The CFO role has evolved over recent years and now encompasses strategic planning, technology strategy and implementation (including of new AI tools), and close collaboration with the CEO. But looking ahead, C-suite executives and senior finance and accounting (F&A) leaders expect the role to diversify even further over the next five years, with CFOs expected become more involved in include technology strategy (cited by 36% of survey respondents), operational management (28%), talent planning (28%), and external communication (25%).
In addition, more than half (53%) of C-suite executives and senior F&A leaders say CFOs will have even more influence on the organisation’s corporate strategy across 2025 — a figure which rises to 63% when only CEOs are surveyed.
Philippe Omer Decugis, SVP and GM for Europe at BlackLine, says: “The rising compensation for CFOs reflects the growing expectations and pressure on their role. CFOs are now expected to be masters of all trades — involved in strategic planning and technical implementation across all areas of the business.
But businesses must look at investments beyond CFO remuneration to ensure they can make use of the strategic powerhouse at the heart of their organisation. Prioritising investments in digital solutions that empower the Office of the CFO is key to future readiness and resilience — for organisations of all shapes and sizes.”
Skills gap concerns
However, the research also highlights significant concerns among CFOs regarding the skills gaps within finance and accounting (F&A) teams, which are seen as the most likely factor to undermine the resilience of their company’s financial operations this year.
Nearly a third (31%) of CFOs identify skills gaps as a critical issue, with an equal proportion worried about finding new talent (31%) and retaining existing talent (31%) — all of which surpass concerns about managing risks associated with AI (27%).
The research also reveals that 30% of CFOs believe skills shortages and a lack of training for existing employees are undermining digital transformation efforts. While 27% of CFOs say addressing these skills gaps will be critical for future success, a similar number indicate that too many competing priorities for F&A teams will be a major challenge, suggesting that training and upskilling may continue to take a backseat.
Furthermore, 37% of CFOs state that expertise in new technology or software is the key skill needed to build a strong pipeline of future F&A leaders, higher than the 35% who view the understanding of financial best practices as most critical.
Philippe Omer Decugis, SVP and GM for Europe at BlackLine, adds: “The skills gaps within F&A teams are a significant concern for CFOs, impacting the resilience of financial operations. As the role of the CFO continues to evolve – and become more critical for every organisation – it is crucial for companies to invest in training and upskilling their teams to ensure they can meet future challenges. At the same time — investments in digital solutions are vital to drive successful transformation. Being able to master new technologies is likely to be the essential requirement for the next generation of CFOs.”
