CFOs have moved beyond traditional finance roles. Today, they have a direct hand in how technology is used across the business because these decisions now affect financial performance in clear ways.
The relationship between finance and technology has changed a lot. Modern systems connect departments and are tightly tied to finance processes. But assessing tech investments now needs a wider view. Instead of only focusing on short-term ROI, CFOs often have to weigh benefits over four to five years. And while digital transformation brings upfront costs, understanding these shifts is essential for steady growth.
Here’s why smart CFOs are stepping up in technology decisions, how this reshapes their companies, and what skills they need to succeed.
Why CFOs Need to Be Involved in Technology
Tech decisions no longer sit only with IT. Finance leaders are now part of conversations that shape every part of the business. And that’s been one of the biggest shifts in executive roles in the last decade.
The Expanding Role of the CFO
CFOs used to focus mainly on reporting, compliance, and capital management. Now, they are expected to help guide strategy, operations, and technology, too.
Why the change? Because tech has a direct impact on financial performance. From customer experience to supply chain operations, businesses rely on connected systems. And CFOs need to understand how each tech choice affects the company’s financial health.
CFOs also bring a wide, cross-functional view. Unlike department heads focused on their own teams, CFOs look at the full financial picture. That lets them spot where tech can improve efficiency and drive growth in different areas.
And the finance department depends more on tech than ever—from automation in accounting to advanced modeling tools—giving CFOs real-world experience with complex systems. That comes in handy when evaluating wider tech projects.
How Digital Transformation Affects Financial Results
Digital investments shape key financial numbers. Sure, they often show up as large upfront costs. But over time, they can boost:
- Efficiency by cutting manual work and streamlining processes
- Revenue by opening new business models and improving customer experience
- Risk management by improving data visibility and compliance
Tech choices and financial outcomes are now more connected than ever. CFOs who miss that connection risk losing chances to improve stability and performance.
The best finance leaders know digital investments take time to show results. Building a strong tech foundation helps create long-term financial value.
Where CFOs Are Leading Tech Decisions
CFOs now help steer tech decisions that affect financial outcomes. They’re taking the lead in a few key areas.
ERP and Financial Automation
ERP systems help connect processes across departments, but they can be tough to get right. Research shows nearly 75% of ERP projects fall short of expectations. Successful CFOs link ERP projects to measurable goals by setting clear KPIs.
The CFOs who focus on improving financial processes—not just hitting “go-live” dates—see better results. Without measurable goals, it’s hard to track the real value of tech investments.
How EPIQ Infotech can help you
EPIQ Infotech is a better choice for ERP and financial automation because of its deep expertise in delivering practical, results-driven solutions. With years of experience in Oracle NetSuite and other leading ERP platforms, EPIQ helps businesses streamline financial processes, reduce manual work, and improve real-time visibility. Their focus isn’t just on system implementation but ensuring automation aligns with measurable business goals, helping companies improve efficiency, accuracy, and long-term growth.
Data Analytics and Forecasting Tools
Good data drives good financial strategy. About 72% of CFOs say metrics, analytics, and reporting are top priorities for 2025. Many are turning to AI-powered forecasting tools to process large data sets fast.
These tools help spot patterns that were easy to miss before, making forecasts more reliable. And they can factor in outside influences like market changes or competitor moves.
Cybersecurity and Compliance
Cyber risks are now a major financial concern. A single data breach cost an average of $4.45 million in 2023, and global cybercrime damage could hit $10.5 trillion by 2025.
Regulatory pressure is also building. For example, new SEC rules require public companies to report cybersecurity events with useful details. That’s why finance leaders are adopting better compliance tools to manage risks and stay in line with regulations.
Building the Right Skills and Teams
With digital change moving fast, finance teams face a big skills gap. Tech knowledge is now one of the most sought-after abilities for CFOs.
Why CFOs Need Technical Know-How
Right after financial expertise, understanding tech is now a must for CFOs. They need to use digital tools to improve operations and support strategy. And staying up to date on emerging tech helps them stay effective.
Technical knowledge also raises a CFO’s profile across the organization. It gives them more influence and can even open doors to CEO roles.
Upskilling Finance Teams
Almost half of finance teams still rely on little or no automation. And technical skills don’t last long—some expire within two to five years.
Finance employees spend more time learning than many other sectors, but experts say they still need much more.
Good upskilling strategies include:
- Assigning “digital mentors” to help others
- Offering tailored learning paths to close skill gaps
- Creating opportunities to work across departments
- Using gamified training to keep people engaged
Hiring for Tech Readiness
Traditional hiring methods aren’t cutting it. Six out of ten CFOs say finding candidates with the right tech skills is tough.
The best leaders now look for people with experience in data analytics, automation, and cloud tools. Adding “digital adaptability” to job descriptions helps make sure new hires can handle change.
Collaboration between finance and tech teams is also key to building strong capabilities.
Working Across the C-Suite
Big tech projects only succeed when leaders work together. The CFO-CIO partnership is especially important for creating value.
Strengthening the CFO-CIO Connection
Finance and tech teams often struggle to communicate. About 94% of CIOs say they understand tech’s financial impact, but only 62% of CFOs agree.
A lot of this comes down to language—tech jargon versus financial terms.
Better communication starts with finding common ground. As one CTO put it, “If I speak in business terms, it’s easier to connect with the CFO.”
Shared dashboards, regular updates, and working together on projects—like cloud migrations—help align goals.
Linking Tech Spending to Business Strategy
Finance leaders often feel pressured to speed up ROI from tech investments. But chasing short-term wins can hurt long-term success.
To avoid this, CFOs use product-line funding models that link tech spending to specific products and their financial performance. This approach:
- Makes the purpose behind tech spending clearer
- Supports better resource planning
- Improves decision-making around investments
Encouraging Company-Wide Digital Buy-In
CFOs also need to push for collaboration across departments. Their involvement makes sure tech supports business goals, not isolated projects.
Leading by example matters. As McKinsey puts it, “The CFO should begin by digitizing finance operations.” That shows commitment to digital progress and gives the CFO direct insight into the challenges.
Conclusion: Why CFOs Need to Lead Tech Decisions
Finance leaders face a critical moment in 2025. Tech decisions and financial oversight are now fully connected. CFOs must step up to guide digital strategies that shape growth, efficiency, and risk management.
We’ve seen how CFOs drive value by leading ERP projects, data initiatives, and cybersecurity efforts. Their ability to connect tech to financial outcomes is vital.
Strong collaboration—especially between CFOs, CIOs, and CTOs—keeps tech spending aligned with business strategy. Without finance leadership, tech projects risk becoming expensive and disconnected.
Companies should ask whether their finance leaders are active in tech decisions. Those that bring CFO expertise into digital change efforts position themselves for stronger, more stable growth.
Tech is no longer just a support function. It’s a strategic tool for efficiency, revenue growth, and risk reduction. And the CFOs who embrace that reality will help secure their company’s future in an increasingly digital world.
Frequently Asked Questions
Why are CFOs more involved in technology decisions today?
CFOs now play a bigger role in technology decisions because digital tools directly impact financial performance. From automating processes to improving forecasting and compliance, tech choices influence growth, efficiency, and risk management. CFOs bring a cross-functional financial view that helps align technology with the overall business strategy.
How does digital transformation affect financial results?
Digital investments often bring upfront costs, but over time, they boost efficiency by reducing manual work, improve revenue by supporting new business models, and strengthen risk management through better data visibility and compliance.
What role do CFOs play in ERP and financial automation projects?
CFOs help guide ERP projects by setting measurable financial goals and ensuring systems improve operational efficiency. Their involvement ensures ERP implementations go beyond technical “go-live” milestones and deliver long-term business value.
Why is EPIQ Infotech a better choice for ERP and financial automation?
EPIQ Infotech combines deep expertise in ERP, financial automation, and platforms like Oracle NetSuite to help businesses reduce manual processes, improve real-time visibility, and achieve measurable efficiency gains. Their focus is on aligning technology with clear financial goals, not just system implementation.
What technologies are CFOs using to improve forecasting and decision-making?
Many CFOs are adopting AI-powered data analytics and forecasting tools. These help process large data sets, identify patterns, and factor in market shifts, leading to more reliable financial predictions.
How does cybersecurity connect to the CFO’s role?
Cyber risks are now considered major financial threats. CFOs work alongside tech teams to improve compliance, manage financial exposure from cyberattacks, and meet new regulatory requirements like SEC reporting rules.
Why is technical knowledge essential for modern CFOs?
Understanding technology helps CFOs improve financial operations, support business strategy, and communicate better with IT leaders. Technical knowledge also increases a CFO’s influence across the organization and prepares them for future leadership roles, including CEO positions.
How can finance teams close the technology skills gap?
Finance teams can close skill gaps by adopting digital mentors, providing tailored learning paths, encouraging cross-department collaboration, and using gamified training programs to build tech readiness.
What improves collaboration between CFOs and CIOs?
Better communication is key. Shared dashboards, regular project updates, and using business terms instead of tech jargon help align finance and IT teams. Strong CFO-CIO collaboration ensures technology investments support business outcomes.
How can CFOs link tech spending to business strategy?
Using product-line funding models connects tech investments to specific products or services. This approach improves decision-making, clarifies spending purpose, and supports long-term growth rather than short-term wins.
