New research reveals finance leaders are stepping out of the back office and into the boardroom, driving change across recruitment, sustainability, and digital transformation.
The role of the CFO is undergoing the biggest shake-up in decades, as finance professionals evolve from number-crunchers to strategic architects.
A new study of 500 UK finance decision-makers by The CFO Centre – which provides part-time CFOs to more than 750 businesses across the UK – found that 60% are now leading cross-functional initiatives well beyond traditional finance. Areas include recruitment, business strategy, sustainability, marketing, and people management. Just 1% said their role had not changed.
This shift is accelerating as economic complexity and rapid technological change force finance professionals to step into the spotlight. AI and automation top the list of growth opportunities (41%), while priorities for the year ahead include R&D (24%), securing long-term funding (22%), and developing AI strategies (21%).
But challenges remain. While 59% feel equipped for their expanded remit, one in four admit they lack the training and support needed. To plug the gap, two-thirds of organisations have already brought in specialist part-time or “fractional” finance leaders, underlining the rise of flexible expertise at the top table.
The research suggests the CFO role is evolving faster in the last five years than in the last fifty.
Patrick Murray, a CFO with more than 30 years of experience helping high-growth companies secure funding, scale and achieve successful exits.
“I’ve seen first-hand the shift from functional specialist to strategic consultant, with finance professionals growing in influence from SME boardrooms to corporate C-suites. Today’s CFO is no longer confined to balance sheets and forecasting. They’re leading talent strategies, shaping sustainability agendas, overseeing marketing impact and driving digital transformation.
The most successful finance professionals will be those who embrace change, broaden their skillsets, and commit to continuous development.”
Sara Daw, CEO of The CFO Centre, says demand for flexible, high-level finance leadership has never been stronger:
“The era of the siloed CFO is over; the age of the strategic CFO has arrived.
We’ve had first-hand experience of the evolving role of the CFO over the last 25 years. Businesses are having to adapt to an increasingly dynamic environment. They need agile, strategic guidance now more than ever, and we have seen an increase in demand and acceptance for fractional professionals as a result.
This research reinforces the accelerating demand for ‘fractional twins’ who can deliver high-level expertise without the full-time overhead or the long and costly process of hiring. There is no doubt that the finance function is evolving, and we’re proud to be leading that evolution globally. These findings paint a picture of a finance function that’s more integrated, more accountable, and more vital than ever.”
And there is a sense of confidence, even with emerging headwinds. Despite rising people and operational costs, net-zero targets, and access-to-finance concerns, 96% of finance leaders remain confident of hitting business targets this year (56% “very confident” and 40% “somewhat confident”).
The CFO Centre, headquartered in Swindon and operating in 18 countries across four continents, has more than 350 CFOs in the UK & Ireland and over 750 worldwide.
For more information, visit www.cfocentre.com/gb