The modern CFO must build the core before chasing the AI vision

Enterprise CFOs are under pressure to become strategic catalysts, AI-savvy operators, and cross-functional storytellers. However, most finance organizations are overwhelmed by daily firefighting, constrained by legacy tools, and running archaic talent models.

At the recent HFS OneCouncil finance focus discussion, we sat down with seasoned CFOs and transformation leaders from across industries and got to the heart of the issue. The unanimous verdict was that CFOs are ready to lead the future, but their success depends on strengthening the foundation as the core (see Exhibit 1).

Exhibit 1: The four avatars of a modern CFO – Built on a foundation of readiness, resilience, and transformation

Source: HFS Research, 2025

The following are the five critical truths reshaping the CFO agenda:

1. Transformation will fail without a foundation

Our ‘three avatars’ CFO framework (Visionary, Integrator, Guardian) hit home. But every leader pointed out the same gap: the absence of an explicit foundational role that anchors the rest. For instance, a digital finance initiative by a leading F&A service provider fell flat when predictive dashboards exposed cracks in fragmented reporting systems.

A foundational element is just core to what we do. Delivering performance isn’t optional, it’s the launchpad.

— A senior executive at a leading materials science company

They weren’t talking about glorifying compliance. They discussed modernizing business-as-usual (BAU) by building a digital-first, insights-ready, AI-prepared finance organization. This means automating reporting pipelines, eliminating dependency on Excel, investing in cloud-native ERP systems, ensuring interoperability across business functions, and building a single trusted data model. Without these in place, every AI pilot risks becoming another silo.

2. AI won’t save you from complexity but instead expose it

The finance leaders we spoke to are pragmatic about AI. They recognize its potential to automate workflows and elevate decision intelligence, scenario planning, and risk forecasting. But they also know that deploying AI on top of broken processes and bad data will only amplify dysfunction. An F&A service provider reflected that while the team had hoped AI would streamline close cycles, it instead “uncovered how broken our intercompany workflows were.”

The power of AI is in real-time insights and the ‘what ifs’ that help drive better conversations.

— CFO of a fast-growing UK-based creative production company

Moreover, CFOs don’t see AI as a shortcut to layoffs but as a driver for better decisions. But without clean data and system interoperability, it won’t stick.

We’re not here to cut people. We’re here to enable them. If we treat AI like another round of offshoring, we’ll lose the plot.

— A senior finance VP at a global beverage company

3. Finance talent should be reimagined, not just reskilled

One of the sharpest points of alignment across the group was about talent. CFOs are no longer looking for compliance-led resumes. They’re primarily looking for collaborators, problem-solvers, and storytellers who can operate across functions and technologies.

We’re hiring without CPA backgrounds because the real need is how they think, not what they studied.

— A senior executive at a leading materials science company

What’s missing are not just digital skills but also adaptive thinking, communication fluency, and enterprise awareness, which traditional talent pipelines are not producing fast enough.

Modern finance teams go beyond titles and are defined by traits. CFOs must redesign roles to reflect that reality.

4. Lack of ambition is not the issue—it’s lack of execution capacity

Across the board, CFOs described a tension between transformation goals and daily delivery demands. Between reporting cycles, compliance pressures, and legacy constraints, there’s little room left to experiment, let alone scale.

Start small. Give people the tools to solve one problem. Build confidence. Then scale.

— VP, Finance Transformation, at a global media conglomerate

Finance transformation is quite often deprioritized because it doesn’t scream the loudest. However, the cost of staying stagnant in this fast-evolving space is rising, especially as other functions accelerate digital agendas.

CFOs must create change zones within their organizations with dedicated talent, resources, and minimal BAU interference. These zones can serve as controlled environments to pilot automation, test AI, and rewire workflows without the weight of compliance timelines. Without such tweaks, the finance function risks becoming the biggest bottleneck to enterprise progress.

A leading F&A service provider mentioned that they are setting up ‘transformation sandboxes,’ which are controlled spaces free from the noise of BAU. Without such zones, scaling change becomes near impossible.

5. The few ahead must pull the many forward

While some finance leaders in the room are actively reshaping their finance functions, they know that most are still stuck in transactional cycles. They also recognize that transformation won’t scale through tech or templates alone. It needs peer advocacy.

70–80% of finance is still in reactive mode. It’s on us to help them build the case.

— A former CFO at a leading UK media and advertising group

Transformation won’t go viral unless those ahead of the curve evangelize the ‘how’ through storytelling, failure-sharing, and open-source playbooks. Moreover, finance maturity isn’t a solo pursuit. It’s a collective journey, and those seeing success must light the path for their peers.

The Bottom Line: The modern CFO is ready to lead strategically, digitally, and cross-functionally. However, without foundational clarity, capacity to change, and reimagined talent, the next-gen CFO playbook is out of reach.

Here are some of the key action points for finance leaders and CFOs:

• Audit your core finance systems. Prioritize automation and integration readiness.
• Kill the spreadsheet. Transition budgeting and planning to cloud-native platforms.
• Create protected ‘change zones’ to pilot new models.
• Hire for an enterprise mindset, not solely for credentials.
• Fix the data. Benchmark data quality before testing AI.

The next era of finance leadership won’t be built on personas. It will be defined by systems, people, and priorities primed for what’s next.