4 Strategic Moves CFOs Need to Make Now to Thrive Amid Today’s Business Challenges

Today’s CFO navigates shifting technologies, increased cyber risks and ongoing labor challenges. Despite this, most still project double-digit revenue growth. About 76% of the financial leaders identified inflation as a concern, according to a recent FTI Consulting survey. Yet, 73% expect at least 10% revenue growth.

Thriving in such a volatile landscape requires CFOs to take these measured, proactive steps.

1. Participate In IT Strategy Creation

Outdated IT setups and siloed tools are blocking effective forecasting. About 85% of CFOs are focused on improving forecast accuracy, and 87% plan to roll out AI tools within a year. This points to why modernizing tech systems is of utmost importance.

CFOs are helping lead IT strategy because they oversee cost control, risk management, and forecasting, all of which depend on connected, clean data.

For example, rolling forecasting can help businesses adjust to inflation or cost changes in close to real-time. In addition, integrated platforms can help speed up monthly close cycles and reduce the number of manual errors.

Actions to consider:

• Continue automation of A/P, A/R, reconciliation, payroll and other finance processes.
• Expand automation into customer service and operations.

It’s also wise to align IT spending with your CIO on:

• Efficiency, growth or AI deployment
• Integration across ERP, CRM and analytics
• Clear ROI metrics tracked over time

2. Prioritize Cybersecurity Compliance

Cyber risks have escalated, becoming a key concern for CFOs. Many businesses are adjusting cybersecurity budgets, with 71% increasing them, and 66% reporting more incidents year-over-year. Budget allocation is moving toward more data-driven risk assessments.

Cybersecurity is no longer just a technical issue – financial integrity and business continuity now depend on it. With cyber incidents on the rise, CFOs need to ensure that risk management, insurance coverage, and recovery plans meet business goals.

Key CFO priorities include:

• Dedicated cyber funding with metrics tied to threat assessments
• Implementing KPIs like patch compliance, incident response time, and remediation cost
• Cyber insurance coverage (breach notification, ransomware losses, recovery efforts, and business interruption)
• Engaging with third-party auditors and crisis training specialists, especially for finance teams

3. Get Involved in HR Strategy

Talent is a strategic differentiator, especially as GenAI disrupts roles and younger workers expect growth opportunities. Talent retention and forecasting remain key CFO challenges. Almost 50% of CFOs ranked GenAI adoption as one of their three biggest internal concerns in Deloitte’s CFO Signals survey.

CFO input is important, as compensation and retention are significant budget items that impact morale, productivity and overall cost trajectories.

Steps to take:

• Automate HR tasks to free up strategic bandwidth
• Support mentorship programs and clear career paths to enhance retention
• Use absenteeism and engagement metrics to detect early turnover risks
• Examine the cost of upskilling versus hiring new employees
• Ensure budgets account for talent investments

4. Commit to Being an Effective Communicator

Complex data without a narrative falls flat. About 79% of CFOs are already working to enable self-service financial reporting. This move typically involves embedding dashboards and data visualization tools into workflows that support faster, decision-ready insights.

Communication checklist:

1. Design stories for your audience (adjust for department heads, the board, and investors).
2. Focus on 3 to 5 key KPIs that reveal performance and risk.
3. Contextualize: As in, “Here’s what happened, why it matters, and what we’re doing next.”
4. Use visuals like dashboards and charts.
5. Connect the past with the future to show how trends inform your next steps.

ResourcefulFinancePro Insiders can check out “120 Proven Communications Tips for Today’s CFO” by clicking here.

When Communicating with Investors

When communicating with investors, CFOs should focus on delivering updates that cover both successes and risks. It’s especially important to showcase how automation and technology investments are enhancing long-term sustainability, not just temporary gains. 

In addition, CFOs should view the investor community as a resource, not just an audience. By positioning the company’s financial story clearly and credibly, CFOs can expand business opportunities through these external relationships. Key tips when it comes to communicating with investors:

• Keep strong relationships through frequent and thorough updates.
• Communicate both wins and losses, and
• Keep in mind investors can make introductions to potential customers, suppliers or even pre-sales beta testers of your product or service.