Chief Financial Officers (CFOs) are taking on increasingly strategic roles beyond traditional finance leadership, with enterprise data and analytics (D&A) emerging as their most common area of expanded responsibility. According to a recent survey by Gartner, conducted in October 2024 among 251 CFOs, finance leaders are now expected to co-own or fully own multiple business priorities, signaling a fundamental shift in how organizations leverage financial leadership for broader enterprise success.

“For most CFOs, the responsibilities they carry beyond finance include a mix of enterprise data and analytics, enterprise risk, corporate strategy, M&A, and procurement,” said Mallory Bulman, CFO Advisory Leader in the Gartner Finance practice. “This expanded role will require CFOs to make decisive trade-offs in their own time and prioritization decisions.”

Data and Analytics at the Core of CFO Leadership

The survey found that enterprise data and analytics stood out as the most common area where CFOs are expected to take ownership or co-ownership. As businesses navigate economic uncertainty and competitive pressures, CFOs are seen as key drivers in establishing measurable, data-driven decision-making frameworks that directly impact profitability.

Beyond data and analytics, CFOs are also increasingly tasked with overseeing artificial intelligence, information technology, real estate, cybersecurity, and environmental social governance (ESG). These additional responsibilities indicate a growing expectation that CFOs not only manage financial performance but also contribute to digital transformation and operational efficiencies.

Navigating Expanding Priorities

As CFOs take on greater responsibilities, managing time effectively has become a crucial challenge. The survey underscores the need for finance leaders to protect their bandwidth by focusing on the most strategic imperatives while delegating operational execution to leadership teams.

“To remain cognizant of day-to-day finance activities and not overlook potential leverage points, leading CFOs are expecting more from their leadership teams, going beyond process execution and finance workflows,” said Bulman. “CFOs should also be sure to prioritize coaching and development in light of these new expectations.”

To successfully navigate this broader mandate, CFOs must: 

• Set clear strategic priorities: Establish one to three quantifiable targets that align financial and operational performance indicators, ensuring clarity across leadership teams.
• Leverage data-driven insights: Utilize advanced analytics to hypothesize, test, and confirm the relationship between operational efficiency and financial outcomes.
• Delegate effectively: Shift process execution responsibilities to senior leadership teams to maintain focus on strategy and enterprise-wide initiatives.
• Align strategic drivers with financial goals: Identify key business levers, such as pricing models and marketing outreach, to directly influence profitability.

Profitable Growth and the Future of CFO Leadership

Despite their evolving roles, CFOs remain anchored in their fundamental responsibility: driving profitable growth. However, their expanding scope now requires them to integrate strategic data and analytics into the core business system, enabling real-time tracking of key metrics and improving overall enterprise performance. 

“Profitable growth will always be the number one priority for CFOs,” Bulman emphasized. “However, owning and anchoring strategic D&A to the overall business system will underscore CFOs’ ability to create a streamlined, measurable approach to tracking metrics and boosting overall enterprise performance.” 

Looking Ahead

As organizations continue to adapt to shifting market conditions and technological advancements, CFOs will remain at the forefront of business transformation. By embracing data and analytics, leveraging AI, and reinforcing strategic planning, CFOs are redefining what it means to lead in 2025 and beyond.

About SoftCo

SoftCo is a fast-growing global Procure-to-Pay (P2P) and Accounts Payable (AP) Automation technology company. SoftCo’s AI-powered automation technology delivers unrivalled touchless processing rates, ensuring rapid ROI. Operating from the US, Finland, the UK, and Ireland, SoftCo has over a million users worldwide with customers including PwC, Snap-on, Volkswagen, Primark, Logitech and the Finnish Government. SoftCo is ISO27001 certified, SOC 1 & 2 audited, a Microsoft IP Co-Sell Certified Partner, an AWS Advanced Technology Partner, and has integrated with over 200 ERP systems.