Finance is at a crossroads. No longer just a function of control, it must now drive business growth, improve agility, and empower teams. Yet, many finance leaders remain bogged down by outdated processes, disconnected systems, and reactive spend management. 

The challenge? Balancing governance with the ability to act quickly. 

The Evolving Role of Finance 

This topic took centre stage at Soldo and HotTopics’ recent Food for Thought breakfast, held at the Royal Albert Hall in January 2025. C-level finance and digital executives gathered to discuss the shifting priorities of CFOs, the role of technology in finance transformation, and the challenges of implementation. 

Traditionally, finance has been seen as the gatekeeper of company funds. But in today’s fast-moving business environment, this approach risks slowing innovation. Instead, finance must enable growth by providing real-time oversight while allowing teams to spend responsibly. 

For CFOs, one of the biggest hurdles is decentralised spend—discretionary expenses like travel, marketing, and software subscriptions that often slip through the cracks. Without real-time visibility, companies risk budget overruns and inefficiencies. 

Technology: A Double-Edged Sword 

AI, automation, and cloud finance tools promise greater efficiency, but implementation challenges remain. The key to unlocking their value? Seamless integration and change management. 

  • AI is already helping finance teams speed up reporting and data analysis 
  • Automation can reduce admin, freeing finance teams to focus on strategy 
  • Success depends on adoption—without buy-in, even the best tools fail 

Empowering Finance Teams

Transformation isn’t just about software—it’s about people. Many finance professionals are resistant to automation, fearing job loss or struggling to transition to strategic roles. CFOs must reskill teams, ensuring they move beyond transactional work to value-added decision-making. 

Some companies are tackling this with structured reskilling programmes, rotating employees across functions to help them adapt to new responsibilities. 

Bringing Order to Chaos 

Finance must evolve from a cost-control function to a catalyst for change. That means: 

  • Real-time visibility of all spending, especially decentralised expenses 
  • Strategic implementation of technology, ensuring adoption, not just deployment 
  • Empowered teams who can focus on insight and growth, not admin 

As finance leaders look ahead, their role is shifting. The imperative is clear: embrace transformation or risk being left behind. 

Discover how a Progressive Finance approach empowers CFOs to drive transformation, balance control with agility, and future-proof their finance function.