The Evolving Role of CFOs in Strategic Decision-Making

Why today’s CFOs are pivotal to business growth, resilience, and innovation.

The role of the Chief Financial Officer (CFO) has undergone a remarkable transformation. Once regarded primarily as the financial custodian - responsible for reporting, compliance, and cost control - today's CFO is a critical strategic leader, shaping organisational direction, managing risk, driving innovation, and safeguarding long-term value.

At Andersen, we work alongside CFOs every day, supporting their expanding responsibilities through our Growth Partner Solutions (GPS) department. Our approach reflects our firm’s values: Best-In-Class, Stewardship, Independence, and fostering a culture of Seamless Service for our clients.
As businesses navigate increasingly complex markets, evolving technologies, and heightened expectations for sustainable growth, the CFO’s role has never been more pivotal.

From Financial Steward to Strategic Leader

While traditional CFO responsibilities - financial reporting, budgeting, and compliance - remain essential, modern CFOs are expected to bring insight and influence to the executive table.

CFOs are now key contributors to:

• Business planning and growth strategies
• Capital allocation and investment decisions
• Market expansion and M&A activity
• Scenario modelling and risk-informed forecasting

Their ability to translate financial data into actionable business intelligence allows Boards and CEOs to make informed, confident decisions. CFOs ensure strategic initiatives are ambitious yet financially grounded, positioning the organisation for sustainable success.

At Andersen, we believe in empowering CFOs with reliable insights and practical tools, allowing them to focus not only on today’s numbers but on tomorrow’s opportunities.

CFOs as Risk Managers in an Uncertain World

The modern business environment is defined by rapid change and uncertainty -from economic volatility and supply chain disruptions to regulatory shifts and cybersecurity risks.

CFOs are uniquely positioned to manage these risks, overseeing both financial and operational resilience.

Their risk management role includes:

• Ensuring liquidity and capital structures can withstand market shocks
• Collaborating with operational teams to identify vulnerabilities
• Staying ahead of evolving tax, compliance, and ESG requirements
• Developing robust contingency plans

The CFO’s role in risk mitigation is not about avoiding all risk - but understanding, measuring, and managing it to enable calculated decision-making. Our Growth Partner Solutions (GPS) team partners with businesses to embed risk awareness into financial systems, providing clarity and control while supporting innovation and growth.

Driving Innovation and Digital Transformation

CFOs have increasingly become champions of innovation, leading digital transformation initiatives that improve efficiency, agility, and data-driven decision-making.

Key areas where CFOs are making an impact include:

• Technology Investment Decisions: Assessing ROI on digital tools and automation
• Data & Analytics: Implementing platforms that provide real-time insights
• Automation & AI: Streamlining processes to free resources for strategic work
• Predictive Modelling: Using advanced analytics for accurate forecasting
  Innovation is most effective when it aligns with financial discipline. CFOs are essential in ensuring technology investments are well-targeted, sustainable, and value-driven.

Our GPS team for example, works hand-in-hand with our client CFOs to implement fit-for-purpose systems, leveraging technology that enhances visibility, efficiency, and strategic control—whether it’s through bookkeeping automation, management reporting, or tailored advisory solutions.

The CFO’s Role in ESG and Long-Term Value Creation

Environmental, Social, and Governance (ESG) principles are becoming increasingly central to how businesses operate and how they are evaluated by investors, regulators, and customers. As expectations around sustainability, ethical governance, and social impact continue to grow, CFOs are uniquely positioned to help organisations navigate this evolving landscape.

The CFO’s role in ESG extends beyond compliance - they have the ability to influence how ESG factors are integrated into broader business and financial decision-making.

This includes:

• Evaluating how ESG risks and opportunities impact long-term financial performance
• Aligning capital investments with sustainability objectives where practical
• Supporting the development of systems to measure, track, and report ESG data
• Ensuring the organisation is prepared to meet evolving ESG reporting obligations

For many businesses, incorporating ESG into financial strategy is still an emerging process—but forward-thinking CFOs are already leading conversations on how to align sustainability goals with financial outcomes.
At Andersen, we recognise the growing importance of ESG considerations and the value they can bring to long-term business resilience. We support CFOs and leadership teams in building the right foundations for sustainable, informed decision-making that balances both financial performance and responsible growth.

Andersen's Approach: CFO Support Through Growth Partner Solutions

Our GPS department was created to provide practical, scalable finance support for businesses of all sizes. Whether your organisation needs help with bookkeeping, management reporting, cashflow forecasting, or virtual CFO services, our GPS team integrates seamlessly with your business -providing reliable financial data, strategic insights, and peace of mind.
We understand that every business is unique. Our team operates with Independence, tailoring solutions that meet your needs without bias or product-driven agendas. Whether your CFO needs assistance building internal capacity, navigating complex reporting, or driving strategic initiatives, we’re here to help.

Most importantly, we prioritise relationships. We see ourselves as an extension of your team, working with integrity, responsiveness, and a genuine commitment to your success.

The CFO as a Catalyst for Growth

In today’s environment, CFOs are much more than financial stewards - they are strategic leaders, risk managers, technology enablers, and champions of sustainable growth.

At Andersen, we’re proud to stand alongside CFOs and business owners as they navigate challenges and seize opportunities. Through our GPS department and advisory services, we empower finance leaders to deliver strategic impact with confidence.

If you’d like to explore how Andersen can help strengthen your finance function and support your organisation’s growth, talk to our team today.

Whether we're providing virtual CFO services or supporting your inhouse CFO - let’s grow your business together - with clarity, confidence, and the right financial foundations.

Author - Nicolene Botha