How to succeed in the evolving role of the modern CFO

By Andrew Casey, CFO, Amplitude

Today’s business landscape demands a new kind of CFO. Financial stability remains crucial, but finance leaders need a versatile toolkit that lets them actively shape company strategy. CFOs are now expected to not only oversee finances, but also drive growth initiatives that secure their organisation’s future. This shift is an opportunity to directly influence business success by making strategic decisions, guiding investments, and identifying new growth paths. Here are some ways to get started.

Transforming the finance function into a strategic powerhouse

Success in this expanded role requires building specific capabilities. While financial expertise remains a CFO’s foundation, they also need to develop strong communication skills, strategic thinking, and commercial knowledge. The most effective CFOs can distill complex financial data into compelling narratives that drive better decision-making across departments. Research reveals that 39% of CFOs anticipate their roles will increasingly involve strategic decision-making and broader organisational influence.

The UK’s uncertain economic climate makes this evolution even more pressing. With the British Chambers of Commerce reporting declining business confidence following recent fiscal changes (like increased National Insurance contributions), CFOs need to protect financial health while spotting strategic opportunities. To meet these dual demands, forward-thinking finance leaders are increasingly using technology to enhance their strategic capabilities.

Leveraging technology as a transformation tool

The digital revolution has fundamentally altered how finance functions operate.A recent survey found that 93% of CFOs have digital transformation initiatives planned within the next year; a clear indication that technology has moved from optional to essential in today’s finance leadership. Digital tools such as analytics platforms and data management programs empower CFOs to shift from retrospective analysis to forward-looking strategic guidance.

Implementing automation for routine tasks frees teams for strategic work, while developing predictive modeling capabilities helps navigate market volatility. The biggest challenge? Budget constraints. To overcome this, creating clear business cases for technology investments by demonstrating measurable returns is essential. Remember that transformation isn’t just about systems—it’s about how teams are led and developed in this new environment.

Building and leading high-performing finance teams

As finance functions evolve, effective team leadership is more critical than ever.. CFOs should create an environment where traditional financial expertise flourishes alongside innovative thinking and cross-functional collaboration. This requires a deliberate approach to team structure, development, and culture.

Communication skills are now central to effective finance leadership. Today’s CFOs must articulate complex financial concepts clearly to diverse stakeholders while also listening actively to understand business challenges. The most successful finance leaders develop two-way communication channels that facilitate genuine collaboration rather than simply issuing directives or reports.

To develop a future-ready team, structured mentorship programs and exposure to business operations beyond traditional finance roles are vital. Finance professionals must seek out experiences that build their business acumen and learn how to apply their technical training to achieve business outcomes. Building through operational rotations creates versatile finance professionals who can handle diverse business demands and implementing succession planning for key finance positions ensures long-term success.

Creating value beyond the balance sheet

CFOs today are redefining business impact.. Research indicates finance business partnering for value creation now tops CFOs’ strategic priorities, reflecting a fundamental shift from financial stewardship to more clearly defined value generation.

This expanded view includes environmental, social and governance (ESG) considerations. CFOs need to integrate specific sustainability frameworks into financial planning, such as carbon accounting metrics, social impact assessments, and transparent governance reporting structures that align with both regulatory requirements and investor expectations. Making the business case for these ESG initiatives requires demonstrating how they contribute to risk mitigation, brand value, and long-term financial performance.

Balancing immediate financial targets with long-term sustainable value creation presents a significant challenge for forward-thinking CFOs, alongside their other strategic responsibilities. By developing robust frameworks that measure both short-term financial performance and long-term value creation, CFOs can guide their organisations through this complex landscape.

Finance executives also play an increasingly pivotal role in corporate development. In fact, 80% of CFOs expect acquisitions to contribute significantly to growth strategy. The ability to identify strategic opportunities for growth in uncertain conditions shows how finance leadership now extends well beyond traditional boundaries.

Building a balanced CFO toolkit

Tomorrow’s most effective finance leaders will master the balance between disciplined financial management and innovative thinking. . This requires developing traditional finance capabilities alongside emerging skills like digital fluency, change leadership and strategic vision.

Financial analysis itself is changing. Today’s CFOs are transitioning from merely compiling raw data to interpreting insights generated by artificial intelligence. This shift fundamentally transforms how finance leaders contribute to business strategy, moving from presenting information to extracting meaningful insights that drive decision-making.

With expanding responsibilities, effective prioritisation becomes essential. Rather than trying to meet every stakeholder expectation, focusing on initiatives that maximise organisational value is key. By navigating this balance effectively, CFOs help businesses thrive despite economic uncertainty, proving that financial discipline and innovation can reinforce rather than oppose each other.

The modern CFO who embraces this dual mandate won’t just survive, but flourish as a key architect of business success by steering financial strategy, enabling innovation, and creating sustainable value across the organisation.

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