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The Rise of the New CFO - NYC CFO Roundtable Recap | Part 2: Technology & the CFO Stack

As the digital landscape evolves, modern CFOs are at the forefront of technology adoption and innovation. In part #2 of our CFO Roundtable recap, we delve into the pivotal role of technology in reshaping the CFO Office.

Join us as we explore how CFOs are leveraging technology to drive efficiency, manage risk, ensure compliance, and unlock the full potential of AI in financial operations. From updating operating models, to using automation to drive efficiency and integrating advanced analytics, today's CFOs embrace technology as a cornerstone of their strategic vision for sustainable growth and operational excellence.

Navigating Digital Transformation

While digital tools offer vast opportunities for efficiency and innovation, CFOs still face challenges when it comes to fully digitizing the finance function.

Data Points: 

  • 85% of CFOs say updating their operating model to support their new vision is a challenge as well as covering the cost of new technology and training the workforce on new tech.

  • CFOs are prioritizing investments in new capabilities like GenAI and advanced analytics (52%).

  • 81% of CFOs anticipate increasing technology investment.


  • Many CFOs face challenges in integrating new best in breed systems with traditional legacy systems.

  • CFOs state that managing the gap between booking and accounting remains a key focus area.

  • CFOs are putting a big emphasis on fixing Revenue Leakage.

  • Most CFOs think that success in digital transformation hinges on effective change management and user experience (UX) design.
“The struggle for startups post-product-market fit (PMF) is scaling back-office operations effectively, underscoring the need for strategic planning and resource allocation.”

- Head of Strategic Partnerships, Growth Startup

Risk Management and Compliance

While top line growth remains a priority, CFOs are also mindful of risk management and compliance requirements.

Data Points: 

  • 84% of CFOs say they face a moderate or significant risk of double taxation due to global tax reforms.

  • 73% say investing in advanced operational transfer pricing technology would help improve risk management.

  • 77% of U.S. CFOs believe that specialized engines and software simplified the compliance process.


  • While growth remains a priority, most CFOs also prioritize risk management and compliance.

  • CFOs believe that investments in SOC II compliance reflect industry-specific risk management strategies.

  • Industry and geographic considerations shape compliance risk assessments, reflecting the diverse regulatory landscape faced by organizations.

Harnessing the Power of AI

AI continues to revolutionize various aspects of business operations, including customer service and financial analytics.

Data Points: 

  • 85% of financial firms report they are currently using AI.

  • 43% of the CFOs indicated more operational efficiencies thanks to AI.

  • 27% of CFOs indicate improved customer experience as the primary benefit of AI.


  • There was a discussion around how AI revolutionizes customer service and financial analytics.

  • AI implementations enable self-service solutions and enhance operational efficiency.

  • CFOs feel AI’s potential lies in error detection, quick analytics, and streamlining finance processes.