From CFO to tech pro. The role of the CFO is evolving to include technology, automation, and AI. Get Sage’s The secrets of successful CFOs research report to learn everything you need to know about using tech to drive growth at your org.
Hey there, CFO. We wanna know: Is your to-do list less 💰💸🔢 and more 💻📊🤖 recently? Well, the good news is that you’re not alone. The role of the CFO is evolving rapidly and now encompasses more responsibilities than ever before. The better news is that you can still be successful—you just need to master technology (especially AI) for you and your biz to succeed.
And now for the best news ever: Sage saw all the changes going down at the CFO level, so they reached out directly to a broad spectrum of CFOs and other industry experts. They dug into exactly how tech should be used to achieve business success at the CFO level, and they’re sharing the secrets they learned with us in their research report: The secrets of successful CFOs.
Let’s talk tech.
Look to the future
You’re probably already using some sort of tech in your role as CFO. But are you building your knowledge base proactively? If you’re not, you should be—because that’s the key to ensuring your biz isn’t left in the dust as technology continues to evolve.
After all, you need to understand the full impact of the latest tech (like AI) to be able to use these technologies to their full advantage. The best way to keep up is to engage with tech vendors and industry analysts who always have something to say about the latest finance tools and tech trends.
Even the pros Sage spoke to stressed the importance of tech, with 78% of highly successful finance leaders emphasizing staying current with technological advancements + viewing it as critical for success in the next three years.
Make better decisions now
Ever feel so bogged down by all the little tasks you have to complete that you don’t have time to even think? Oh, that’s you *all the time*? Then we’ve got just the tech you need. It’s a li’l thing called automation, and it can take care of finance processes to free up a whole lotta your time.
Think about all the changes you could make at your org once you finally have more time. You’ll be able to focus on making important decisions that impact your org at a large scale, which means more time spent on strategic planning and less time wasted on routine reporting.
You’ll also be in good company once you get to automating your finance processes. An impressive 81% of finance leaders acknowledge that automation frees them up for more strategic initiatives. What can we say? Automation is king, after all.
Bridge the metrics gap
You’re a CFO. Of course, you know that numbers are important. But are you actually collecting your metrics the way you should be? And not leaving out any important ones like *ahem* ESG and sustainability *ahem*?
Well, it’s not just you. Sage discovered that while 86% of finance pros understand the significance of metrics, only 45% actually collect them. Not part of that 45%? Don’t worry—this is where tech comes in.
With tech like automation and AI, you’ll be actively tracking important metrics (including ESG and sustainability numbers) in no time. Automation and AI can help comb through mountains of data, monitor metrics in real time, generate reports automatically, and even detect anomalies.
Unleash your full potential
Okay, it’s time for a pop quiz: AI + automation + your finance team = ?
If you said maximum impact, you’re correct. And Sage Intacct with Ai can help you achieve just that. Sage Intacct with Ai transforms your AP workflow, enhancing efficiency, reducing errors, and significantly improving payment processes. The best part? It also powers Outlier Detection as a safety net to spot mistakes, uncover unusual entries, and simplify data entry and review.
More time for you and more accuracy? That’s a win-win if we ever saw one.
Lead better with technology
The numbers don’t lie—CFOs who fully embrace AI and automation within their roles experience the benefits. Survey says: 88% of very successful finance leaders use AI and automation tools, indicating a trend toward use of advanced AI tools like ChatGPT.
And that’s not all. 87% of CFOs who have incorporated AI report a significant effect on their businesses, and 88% employing machine learning feel a strong influence on business outcomes.
All this shows that tech has and will continue to significantly change the role of the CFO, primarily through AI, automation, and machine learning. Any CFO not hopping on the tech train is going to get left behind—fast.
CFO ➡️ tech pro
The role of the CFO today now includes being a tech pro. Bet you didn’t see that coming when you were studying calculus, did ya? Well, Sage did, and they’ve got the research report to prove it. The secrets of successful CFOs has all the deets on exactly what a CFO who’s a tech pro looks like, along with tips on how to master using AI and technology in your role.