Financial transformation has emerged as a critical imperative for organisations in 2024, driven by the need to adapt to rapidly changing economic conditions, technological advancements, and evolving business landscapes.
This 2025, CFOs in Asia face unprecedented challenges in navigating a landscape shaped by rapid technological advancements, evolving consumer behaviours, and heightened regulatory demands. The finance function must adapt to digital disruption, integrating automation and real-time data analysis to enhance decision-making processes.
CFOs are expected to manage financial risks and drive strategic growth initiatives. This dual role necessitates a transformation in finance operations, compelling CFOs to embrace innovative solutions while fostering a culture of agility and collaboration within their teams.
Evolving role
Historically, CFOs were the stewards of financial reporting and compliance. However, the increasing complexity of global markets and the pace of technological change have redefined this role.
CFOs must now act as strategic partners to the CEO and other executives, providing insights that drive business decisions and shape organisational strategy. Giselle Arellano-Geronimo, vice president and head of Finance, Accounting, and Procurement at Shearwater Health, emphasises that successful CFOs can resonate with various stakeholders and foster a culture of continuous learning essential for implementing transformative changes.
Embracing digital transformation
The advent of digital technologies necessitates a fundamental rethinking of finance functions—CFOs harness automation, artificial intelligence, and data analytics tools to streamline operations and enhance decision-making processes.
Arellano-Geronimo describes the transformative journey of finance leadership, which is characterised by the need to innovate, be agile, and focus strongly on strategic business insights.
She points out that finance is no longer just about metrics and measurements but about leveraging technology to gain insights that support strategic initiatives. This includes real-time data analysis, which allows finance leaders to respond swiftly to market changes and identify growth opportunities.
“CFOs must also prioritise the development of a digital finance strategy that aligns with the overall business strategy. This involves investing in technology that automates routine tasks and provides valuable insights that can drive competitive advantage.” Giselle Arellano-Geronimo
For instance, integrating cloud-based systems allows for greater flexibility and accessibility of financial data, enabling finance teams to collaborate more effectively.
Building a future-ready finance team
The transformation of finance functions requires a shift in workforce dynamics. Arellano-Geronimo notes that the qualifications and skill sets required for finance professionals are evolving.
As automation takes over routine tasks, finance teams must focus on higher-value activities such as strategic analysis and business partnering. This shift demands a workforce that is not only technologically savvy but also possesses strong analytical and interpersonal skills.
For Arellano-Geronimo, CFOs must champion talent development initiatives that cultivate a culture of agility and collaboration.
“By investing in training and development, finance leaders can equip their teams with the necessary skills to navigate the complexities of a digital finance landscape,” she elaborates. “Additionally, fostering cross-functional collaboration between finance and other business units will enhance the overall effectiveness of the finance function.”
The importance of strategic insights
The ability to provide strategic insights is paramount in the context of finance transformation. Arellano-Geronimo highlights that CFOs must move beyond traditional financial reporting to deliver insights that influence critical business decisions.
“This includes scenario planning, advanced forecasting, and data visualisation techniques that help stakeholders understand complex financial data,” she adds.
Arellano-Geronimo believes that CFOs need to establish themselves as trusted advisors within their organisations, guiding executives through the intricacies of financial strategy. By providing actionable insights, she is confident CFOs can help organisations make informed decisions that drive growth and mitigate risk. “This proactive approach not only enhances the credibility of the finance function but also positions CFOs as integral members of the leadership team,” she continues.
Navigating regulatory challenges
As businesses in Asia grapple with evolving regulatory environments, CFOs play a crucial role in ensuring compliance while driving transformation. Arellano-Geronimo emphasises the importance of maintaining a balance between innovation and compliance.
“CFOs must stay ahead of regulatory changes and implement robust governance frameworks that protect the organisation while enabling agility,” she maintains.
This requires a deep understanding of both local and global regulations and the ability to adapt financial processes accordingly. By leveraging technology to enhance compliance monitoring and reporting, CFOs can streamline operations and reduce the burden of regulatory requirements.
The road ahead
The challenges facing CFOs in 2025 are multifaceted, requiring a strategic focus on digital transformation, talent development, and compliance. As leaders of finance transformation, CFOs must embrace innovative technologies and foster a culture of agility within their teams.
Arellano-Geronimo’s insights underscore the need for CFOs to transcend traditional roles and become strategic partners who drive business success. By prioritising strategic insights and collaboration, CFOs can navigate the complexities of the evolving business landscape and position their organisations for sustained growth in the years ahead.
Click on the PodChat player to hear Arellano-Geronimo share her views on how finance professionals can become transformative finance leaders in 2025.
- What is a transformative leader? Do you consider yourself one?
- In your view, can one be a transactional and equally transformational leader?
- Who is your one role model for a transformational leader?
- What metric should one use to gauge whether we have what it takes to be a transformative leader?
- List must-have and nice-to-have qualities.
- What do you look for as qualities/traits worth building upon in building the next generation of leaders?
- How do you nurture people to become transformative leaders (even if they are unaware and may not necessarily have the initial desire to be one)?
- How would you address resistance to become one?
- Speaking of opportunity, do you agree that everyone, at all levels of an organisation, can be transformational leaders for their teams and colleagues?
- In closing, what is your advice for others listening to this PodChat on becoming a transformative finance leader in 2025?
