This article marks the third instalment of a series I’ve been writing for EU Startups, sharing insights into what it takes to succeed as a CFO today. Reflecting on the series, one thing is clear: the responsibilities of today’s CFO extend far beyond traditional financial management and reporting. The role has evolved significantly, with CFOs now managing a much broader scope of duties.
Nowadays, CFOs must remain forward-focused, driving organisational strategy and decision-making. This involves prioritising value creation while navigating relentless pressure to reduce costs, enhance efficiencies, and drive revenue growth—all against economic and geopolitical uncertainty. Additionally, heightened regulatory and investor scrutiny demands a strategic approach that transcends the traditional financial gatekeeper role.
The modern CFO’s expanded role
Today’s CFO must adopt a holistic view of sustainable growth, identifying new opportunities while implementing robust strategies to safeguard the business against economic volatility. This expanded remit should be viewed as an opportunity. When I considered joining Weavr, oversight beyond risk management, including commercial responsibilities and growth initiatives, was essential for me. I wanted to play a meaningful role in the company’s progress, so we structured my CFO role to ensure I wasn’t solely focused on numbers every day. I enjoy being action-driven, working closely with the developer, sales, and marketing teams to understand the ins and outs of embedded finance. This enables me to contribute to an evolving and successful business model.
CFOs are no longer merely financial stewards but also opportunity scouts—professionals who read market signals, identify growth avenues and allocate resources effectively. Those who embrace this approach ensure their businesses not only navigate uncertainty but are also well-positioned to capitalise on strategic growth opportunities. In today’s world, this mindset isn’t just a ‘nice to have’; it’s a ‘must have.’
Modern vs. Traditional CFOs
The modern CFO goes beyond accounting and profit-and-loss management. The role involves negotiation, influence, and trust-building, both internally and externally. CFOs provide a holistic view of the business—covering people, reorganisation, customers, products, partners, pricing strategies, and regulations—ensuring the numbers are meaningful and trusted. The focus has shifted from pure financials to broader discussions about strategy and operations.
Unlike traditional CFOs who focus on reconciling policies, modern CFOs tailor strategies to their business needs while meeting accounting standards and taking calculated risks. The role involves constant pitching, negotiating, and influencing through the lens of a number while balancing compliance and value creation. It also connects banking processes with resource management to optimise financial and human capital.
Using acquisitions as an example, CFOs now evaluate not only costs and projected revenues but also broader strategic impacts, such as share price, valuation, competitiveness, and post-acquisition positioning. They analyse potential benefits and resource allocation while addressing how acquisitions reshape the company, opening some opportunities and closing others. Accountability extends to defending these decisions to stakeholders and explaining outcomes.
CFOs bear greater responsibility, addressing not just the “what” but also the “why” behind the numbers. While traditional CFO ideology has its place, organisations benefit from CFOs who adopt an expanded, strategic role requiring the skills and mindset to drive value and transformation.
Avoiding financial tunnel vision
Today’s CFOs don’t just manage risk and drive efficiencies—they look beyond the business to prioritise opportunities to say “yes.” This can involve deploying capital to align investments with business goals while building and maintaining relationships in the global investor community to extend the cash runway. Similarly, I believe regulatory and operational risks, when viewed through the right lens, can serve as catalysts for strategic growth.
Such a mindset keeps the company focused on long-term success while navigating short-term economic challenges. A key example is Weavr’s decision to pursue an e-money (EMI) licence and acquire an open banking platform. Although these milestones weren’t part of our original plans, it became clear that these investments were essential to fuel growth in line with market demands.
When adding new layers to the business, it was imperative to assess our current position, allocate resources, and determine where to invest next. Ultimately, each incremental dollar spent should drive incremental change, contributing to higher levels of innovation and improved results.
Navigating new frontiers
As a modern CFO, I see my role as pivotal in driving the business forward and adapting to challenges in an ever-changing environment. Whether finalising negotiations with a prospective customer—where my insights into their business model add critical value—or securing new investors to propel us to the next stage, versatility is key.
In my role, I’ve supported embedders by opening doors and smoothing the commercial process, while also nurturing external relationships. Building trust with banks, investors, and industry networks creates partnerships and fundraising opportunities for the future. Investors and partners are more receptive when they know—and believe in—the business and its leaders.
Public-facing activities also play a significant role. As one of the most visible leaders in my company, I’ve represented the business on prominent stages at industry events and appeared on major media platforms. This contrasts starkly with the notion of CFOs as mere ‘number-crunchers.’ The modern CFO plays a strategic role at the heart of decision-making, influencing growth, innovation, and long-term success.
Encouraging the next generation
I hope this series has conveyed my passion for the CFO role. I’m proud to hold this position and excited about contributing to Weavr’s success in embedded finance. Looking ahead, I’m focused on supporting the next generation of CFOs, ensuring they have the tools to thrive.
I’m particularly committed to supporting aspiring female CFOs as they navigate this dynamic role. If you’re an aspiring female CFO, feel free to reach out to me on LinkedIn. I’d be delighted to share my insights to help you succeed and make a lasting impact. Together, let’s shape the future of finance.
Read the orginal article: https://www.eu-startups.com/2025/01/leading-beyond-the-balance-sheets-redefining-the-cfo-role-for-todays-challenges/
