Why CFOs are now driving digital transformation

A strategic role at the heart of change

The role of Chief Financial Officer is becoming increasingly strategic. Finance leaders today face a triple challenge: tightening regulations, a shortage of financial and technology talent, and rapid technology acceleration.

E-invoicing, e-reporting, ESG disclosures, tax policy shifts, increasing regulation, and global compliance standards are reshaping the CFO agenda. At the same time, attracting and retaining top talent is harder than ever. Add to that the rise of generative AI, intelligent automation, and advanced analytics, and the finance function is being redefined.

Today’s CFO is no longer just “keeping the books.” CFOs are catalysts for digital transformation—connecting data, workflows, and decisions. Working closely with the CIO and executive leadership, they bridge strategic vision and operational execution.

This strategic shift is exemplified by the wave of digitization currently sweeping across Europe, driven by the VAT in the Digital Age (ViDA) initiative, which is prompting many of our clients to rethink their strategic roadmaps for finance and other departments. We’ve recently seen e-invoicing projects where the digitization of invoices and reconciliation processes has completely disrupted the purpose of certain teams or the way work is organized between departments. In such cases, modernizing the finance function becomes a foundational step in designing the company’s future operating model.

As another example, our CFO Advisory teams have been approached by CIOs asking for support in helping the finance department to finalize its technology roadmaps because, without this, it’s difficult to envision the modernization of production.

From financial control to augmented steering

Finance is no longer just about measuring performance; it’s about driving it. Leading CFOs are designing steering models that integrate financial, operational, ESG, and human indicators.

With AI and analytics, leading finance teams are:

• Spotting trends before they emerge
• Simulating scenarios to guide strategic choices
• Powering decisions with real-time, shared dashboards

This shift places finance at the core of performance-driven decision-making.

Standardization as a path to agility

Complex processes and costly exceptions slow performance. CFOs now have the tools to reverse that trend. Process mining and AI help detect anomalies early and drive business process optimization. Standardizing key workflows (P2P, O2C, R2R) shortens timelines, cuts costs, and improves internal service quality.

More importantly, standardization frees up time and energy for high-value topics. It becomes a driver of agility, not a constraint.

Modernizing the finance technology ecosystem

Finance systems must lead the technology revolution. For CFOs, modernizing the technology stack isn’t just about internal efficiency, it’s a competitive advantage.

This means the following:

• Preparing for compliance (e-invoicing, ESG, e-reporting) by upgrading application architecture
• Aligning IT and finance priorities, with CFOs actively involved in strategic projects
• Adopting modular, interoperable platforms that evolve with the business

As co-pilot to the CIO, the CFO ensures every technology investment boosts performance and resilience.

Modernizing also means letting go of the past. We often find that CFOs play a key role in transformation projects by persuading the teams, or even the CEO, that for the good of the company, it’s time to move on from a legacy system. Even if teams have spent countless hours and significant resources customizing a tool, holding on to it may hinder progress. The CFO must be able to challenge these attachments and help the organization embrace change. Our business consultants are often the spokespersons for our CFO clients in this kind of exercise.

Taking the lead on data

Data is now the enterprise’s most valuable asset, and the CFO is best positioned to ensure its quality, reliability, and value. Robust, cross-functional data governance breaks down silos and delivers unified insights.

By combining financial, operational, and external data, CFOs can better understand markets, anticipate risks, and seize opportunities faster than the competition. This data mastery transforms finance into a strategic engine.

Building a resilient and attractive finance function

Recruitment pressure is increasing. CFOs must rethink their organizational models to stay attractive and resilient. This means automating low-value tasks, developing digital and data skills, and creating a stimulating work environment.

A modern finance function attracts and retains talent and strengthens the company’s ability to weather crises.

What CGI brings to CFOs

At CGI, we help CFOs move from intention to impact. Our approach balances strategic vision with operational execution, offering clients:

• A unique DNA that combines management consulting with technology expertise
• Proven methods to assess financial maturity, prioritize investments, and build clear roadmaps
• Deep industry knowledge, backed by strong local presence and a global network
• Concrete solutions, including intelligent automation, ERP modernization, data governance and value creation, AI integration
• A commitment to value, including clear metrics to measure impact on performance, efficiency, and resilience

Our belief is simple: tomorrow’s CFO will be a key driver of digital transformation. Our role is to help make that ambition a reality.

Learn more about our CFO Advisory Services. Also, feel free to contact me for further discussion.