The future of finance is built on digital technologies¡ªAI, big data, and the cloud¡ªthat are elevating teams to strategic partners across the business. Learn how top CFOs and finance leaders are preparing.
Bruno J. Navarro
Senior Editorial Strategist, Finance
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In an AI-powered business world, functions that once operated as back-end or administrative support are now becoming strategic contributors. Finance is perhaps the most impactful of these, moving beyond tracking and reporting to deliver deep analysis and insight.
of financial controllers and CFOs underscored this shifting role of finance. Their research found 86% of controllers expect their roles to evolve by 2030, with 40% specifically noting a heightened focus on value creation. At the same time, 78% of CFOs report high pressure to balance long-term and short-term business priorities.
And while expectations for corporate finance teams increase, so too does the pace at which leaders want their insights delivered. The only way to meet these demands is by making the transition to true digital finance: a state in which digital technology tools and AI are deeply embedded into the ways finance operates every day.
86% of controllers expect their roles to evolve by 2030 with 40% noting a heightened focus on value creation.
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In 2025 every finance team uses digital technology at some level, but maturity varies widely. At the early end of the spectrum is digitization¡ªtransferring paper records into digital files. Then comes automation, or using technology to take over routine tasks that once required significant manual time and attention. Both of these mark progress, but neither pushes finance toward true strategic partnership on its own.
Digital finance transformation is necessary to elevate finance beyond reporting and tracking data to contribute high-level insight. It requires:
Integrated data strategy: An enterprise-wide data foundation that links operational, financial, and external data into a single governed environment leaders can rely on.
Process redesign: Reimagining finance workflows, from transaction capture to board reporting, so insights are created in the moment of need rather than weeks later.
Cultural and talent shift: Developing a finance team of data storytellers and strategic advisors, and embedding a culture where collaboration with digital tools and AI is the standard.
Governance and security by design: Embedding privacy, compliance, and risk controls into systems and processes so digital tools strengthen trust while supporting everyday work.
Strategic business partnering: Positioning finance as an advisor by joining business discussions early and using data-driven insight to guide investment and risk choices.
In the latest , CFOs identified strategic planning support across the business as a top area of transformation for finance right now. Committing to the steps above to reach a truly digital and modernized finance operation is essential to meeting that goal.
CFOs reported to Â鶹´«Ã½ cross-functional strategic planning support as a top area of finance transformation.
Finance transformation doesn¡¯t happen overnight, and thorough preparation and planning are essential to execute it successfully. These steps can help you put a plan in place to transform intentionally, with high visibility into your existing state and a clear view of your future goals.
Start by creating a full inventory of the systems and spreadsheets you currently use to handle financial data. Document how each of these connects¡ªor doesn¡¯t¡ªand flag where people step in manually.
This exercise lays the foundation to transform by exposing duplication, delays, or error-prone handoffs across existing operations. With a clear roadmap to work from, you can prioritize which systems need to be integrated, which ones should be retired, and which should be replaced by something new.
One of the most important goals of true digital finance is better collaboration. To achieve it, you need consistent definitions for your key metrics across functions. Gather stakeholders to agree on how metrics will be defined and calculated, then record these in a central glossary.
Embed your definitions into reporting and planning tools so they're automatically enforced. This level of standardization prevents time wasted debating numbers and builds confidence that all teams are working from the same baseline.
Focus automation efforts where they free the most capacity. Begin with routine and rules-based tasks, like reconciliations and invoice matching to enhance . Run pilots to measure cycle-time reduction and error rates, then share the results and expand automation based on best practices you uncover.
Once you¡¯ve established a system for adopting automation tools, the next step is to explore intelligent capabilities, such as anomaly detection and automated reporting, that strengthen finance¡¯s ability to deliver decision-driving insights.
The cloud is becoming the status quo for modern finance. Even organizations that operate on-premises for security and compliance reasons are increasingly adopting the cloud through hybrid models to gain benefits like improved scalability and stronger cross-team collaboration.
Start this step by mapping out the finance workloads and systems that would see the most immediate benefit from the cloud. From there, work with your IT team to map out the best implementation model for your organization.
As with most transformations, a phased approach to cloud adoption is helpful to avoid operational disruption, lower risk, and help your teams adjust to new tools.
Instead of treating security and compliance as add-ons, build them into every workflow from the beginning. Define who can access what data, set up audit trails, and create retention policies before new systems are rolled out.
Run tests and drills to make sure these safeguards actually work in practice. When governance is designed into the process from the start, finance can adopt new tools with confidence, knowing that trust and compliance are protected.
Technology without the right skills leaves value untapped. Develop training in areas like data literacy, scenario modeling, and communication of insights. Encourage teams to use new tools in everyday work so the skills become routine and intuitive.
Pair training with mentoring to help translate technical outputs into real business context. Clear expectations will reinforce that finance¡¯s role is to advise on strategy, not just report numbers.
The full value of digital finance is realized when it changes how finance partners with leaders across the business. With stronger data, advanced analytics, and collaboration tools in place, finance teams can elevate their role to support strategy development and decision-making with insights that give leaders a clearer view of opportunities and risks.
To do this, finance leaders must engage proactively with peers in key areas like operations, sales, and HR to interpret financial data in the context of broader business goals. By becoming trusted advisors rather than back-office analysts, finance teams help shape initiatives such as market expansion, workforce planning, or pricing strategies, ensuring decisions are grounded in a forward-looking financial perspective.
Realistic expectations, documentation, and strong change management are key to overcoming challenges during digital finance transformation.
Even with strong preparation and the best , inevitable challenges appear along the way. Data siloes, for example, can persist even after new technologies are deployed if integration isn't prioritized at the start.
Resistance to change also poses a challenge. Finance professionals accustomed to long-established processes may hesitate to adopt new tools or capabilities. Budget pressures often add another layer of difficulty, forcing leaders to balance long-term investment with short-term cost constraints.
These challenges underscore the importance of three key best practices:
Realistic expectations: Know your budget and capabilities, and plan within them. Start with manageable initiatives, deliver results, and expand from that foundation rather than overcommitting at the outset.
Documented implementation: Create clear roadmaps that outline key responsibilities and milestones. Documentation maintains accountability and keeps teams aligned as transformation unfolds.
Strong change management: Prepare your people for new tools and processes. Provide ongoing communication, training, and support so teams understand the changes and adopt them with confidence.
Understand that challenges will arise no matter how well you plan¡ªno business initiative goes perfectly as anticipated. But with a strong focus on your goals and a team ready to pivot and adjust, you can keep your project on track.
Digital finance is still advancing, and the next wave of technology will shape how the function operates in the coming years. already include areas like forecasting, reporting, and risk analysis to generate scenarios and find insights in datasets too large to analyze manually.
are proving the next innovative level of automation, taking on workflows like automated invoice processing or compliance monitoring autonomously with minimal human intervention. With full end-to-end processes handled by agents, finance teams can truly focus their time on strategy.
These technologies are emerging as some of the most intelligent support systems we've ever had in finance, and leaders who adopt them with intention can achieve new levels of simultaneous productivity and strategic value contribution.
Finance leaders are facing increased expectations from both internal and external stakeholders. to uncover the top five reasons CFOs are moving to Â鶹´«Ã½ to optimize their finance operations.
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