The traditional image of the CFO as a ‘guardian of the cash register’ focused on historical reports is becoming a thing of the past. The latest ‘CFO Pulse’ report, prepared by KPMG in Poland and ACCA Poland, paints a portrait of a manager who is becoming a central figure in the digital transformation. As many as 92% of the CFOs surveyed admit that their scope of responsibility has expanded significantly in recent years, and almost all are involved in projects that go beyond the classic finance framework.
A key driver of this change is a strategic approach to data. Today, 68% of CFOs are responsible for data analytics and strategy in their organisations. Of particular relevance to modern business, 15% of respondents combine the CFO role with that of Chief Data Officer (CDO). This unification of finance and technology competencies is paying dividends – companies where CFOs are taking the helm of data architecture are demonstrating significantly greater sophistication in implementing artificial intelligence.
This transformation is not limited to the digital sphere. CFOs are growing into business process integrators, overseeing the optimisation of operating models and the development of shared service centres. Instead of asking only about costs, the modern CFO analyses the value and investment potential of projects, becoming the de facto architect of the company’s future growth. Shifting the focus from reporting the past to predictive modelling is already declared by 21% of respondents, allowing faster adaptation to changing market conditions.
Despite its growing strategic role, the process is not free of friction within the organisation. A communication barrier remains the biggest challenge, with 37% of respondents citing limited understanding of complex financial issues by other board members. Additionally, one in four CFOs still struggles with an archaic perception of their function solely through the prism of controlling.
The best CFOs we see are no longer just asking ‘how much does it cost’, but ‘how much is it worth and how to measure it’. This shift in perspective – from reporting the past to co-shaping the future – is one of the most important transformational challenges for the finance function in Poland and globally today, emphasises Maciej Bałabanow, CFA, Associate Partner, Advisory, Head of Strategy Team at KPMG in Poland.
The success of the modern enterprise is therefore increasingly dependent on the CFO’s ability to transform vast amounts of raw data into clear business signposts. In the age of AI and automation, the finance function is no longer merely a cost centre and is becoming a driver of operational efficiency. For boards, the message is clear: a strong CFO today is first and foremost a strong technology and data leader.
