Financial alchemy: How CFOs can lead the tech revolution in their organisations

At the FutureCFO Conference series, organised by Cxociety, finance leaders in Indonesia, Malaysia, Singapore, the Philippines and Thailand ranked automation and degitalisation (80%), investing in talent and employee development (58%) and continuous innovation (47%) as the top three strategies most important to sustainable growth in 2024.

Coming into 2025, as finance leaders face mounting pressure to do more with less while driving growth and maintaining compliance, they are turning to digital solutions and holistic approaches to reshape and modernise financial processes.

This transformation goes beyond adopting new technologies; it requires fundamentally rethinking how finance functions operate and contribute to overall business success. In this context, chief financial officers (CFOs) are emerging as pivotal figures in steering their organisations through technological adoption and innovation.

Transformation: not the number one priority

According to Gartner, CFOs and finance leaders are prioritising metrics, analytics, and reporting as their primary focus areas, emphasising the critical role of technology in enhancing business performance. This shift from traditional finance transformation towards a growth-centric mindset underscores CFOs' need to leverage technology strategically.

Navigating complex challenges

The KPMG 2025 board agenda highlights that boards will face unprecedented scrutiny regarding their governance processes as companies navigate complex geopolitical and economic risks. The document outlines the importance of understanding and implementing technological solutions to address these challenges.

For CFOs, this means managing financial data and utilising technology to provide insights that drive strategic decision-making. Dr Joselito Diga, senior vice president for Finance of United Laboratories in the Philippines, encapsulates this sentiment succinctly, stating:

"In today's volatile environment, the ability to harness technology effectively can mean the difference between stagnation and growth. Our focus must shift towards integrating relevant technologies that promote data driven decision-making and customer-centricity in all aspects of our operations." Joselito Diga

His perspective aligns with the broader call from industry leaders for CFOs to take a more proactive role in technology selection and implementation.

The critical role of technology in innovation

In 2025, the importance of technology in fostering business innovation cannot be overstated. CFOs are tasked with evaluating and selecting the right technological tools to enhance operational efficiency and provide the analytical capabilities necessary for informed decision-making.

Gartner's report elaborates on this, asserting that "the integration of advanced analytics and reporting tools will empower CFOs to deliver actionable insights, thereby improving overall business performance."

This capability allows organisations to respond swiftly to market changes, ensuring they remain relevant in an increasingly disruptive and competitive landscape.

Enhancing agility and decision-making

Moreover, the KPMG report emphasises the need for boards to keep pace with the evolving technological landscape, particularly in cybersecurity, artificial intelligence (AI), and sustainability.

As CFOs navigate these complexities, their role extends beyond mere financial management; they become strategic partners in driving profitable and sustainable growth and innovation.

Diga reinforces this idea by noting, "Technology is not just an enabler; it is a fundamental component of our long-term growth and innovation strategy. We must embrace it to drive productivity, differentiation and unlock new revenue streams."

Promoting business agility

Integrating technology into the finance function is critical in enhancing business agility. With the rapid pace of change in today's market, organisations must be able to pivot quickly in response to new opportunities and challenges.

CFOs can facilitate this agility by leveraging technology to streamline processes, ensure data integrity and improve cross-functional collaboration. For instance, adopting cloud-based financial systems can enable real-time and multi-location data access, fostering a more agile and collaborative decision-making environment.

Addressing ESG and sustainability obligations

As organisations increasingly prioritise sustainability and social responsibility, technology will also play a crucial role in meeting these objectives. The KPMG agenda highlights the significance of embedding environmental and social governance (ESG) considerations into business strategies.

CFOs, therefore, must ensure that their technology investments align with these values, utilising data analytics to measure and report on ESG performance effectively.

"Sustainability is not just about regulatory compliance.  Sustainability initiatives can also help drive long-term growth and profitability, customer loyalty and employee engagement. For example, new regulations on packaging and waste management create opportunities to improve our business processes and products and to meet changing customer expectations. " Joselito Diga

Unlocking revenue generation

Technology adoption can also improve operational efficiency and agility and open new revenue-generating avenues. As CFOs evaluate potential technological investments, they must consider how these tools can facilitate new business models and enhance customer engagement.

Advanced analytics can provide invaluable insights into customer data and preferences, enabling organisations to tailor their offerings to meet evolving market demands.

Strengthening risk management

The need for effective risk management further underscores the role of CFOs in driving technology adoption. As highlighted in the KPMG report, the complexities of today's business environment require CFOs to implement robust risk management frameworks that incorporate technological solutions.

Diga emphasises this point: "Understanding the risks associated with new technologies is essential. It is our responsibility to ensure we put in place the necessary safeguards while still pushing for innovation."

Defining characteristics of business in 2025

In conclusion, the convergence of technology and finance will be a defining characteristic of business in 2025. As organisations navigate the challenges of a rapidly changing landscape, CFOs will play a crucial role in driving technology selection, adoption, and use to foster innovation and growth.

By prioritising metrics, analytics, and reporting, CFOs can deliver critical insights that enhance decision-making and operational efficiency.

Diga aptly says, "Embracing technology is not just about following popular trends; it's about making informed and appropriate choices based on the organization’s priorities and ensuring that innovations actually deliver and enhance value for customers, shareholders and society as a whole." Ultimately, harnessing technology effectively will be instrumental in determining which organisations will thrive in the coming years.