With many organisations forced to completely rethink working practices due to the pandemic, the priorities for CFOs have shifted dramatically.
The role of the modern CFO now goes far beyond financial oversight. Today’s finance leaders are deeply involved in talent strategy, technology investment, and business transformation.
To stay competitive, CFOs need to regularly step back and ask a number of strategic questions.
Here are five questions every CFO should be asking to stay ahead of the curve.
1. Do We Have the Right Headcount and Skills in Place?
CFOs are increasingly involved in conversations about hiring and workforce planning.
While they may not sit directly within HR or talent acquisition teams, finance leaders play an important role in evaluating the financial impact of hiring decisions and workforce strategy.
As Launchways notes:
“CFOs are strategists, and in today’s competitive labour market, your company’s growth is tied to retaining and recruiting top talent.”
If you already have visibility into hiring decisions across the business, it is important to continuously review whether the right talent sits in the right roles.
This includes:
Reviewing headcount allocation
Understanding team capacity
Evaluating hiring ROI
Ensuring compensation remains competitive
If you currently have limited insight into hiring plans, aim to participate in these discussions at least quarterly. Collaboration between finance and HR enables smarter growth decisions across the business.
2. Have We Invested in the Right Technology?
Technology investment is one of the most important strategic decisions a CFO will influence.
Finance leaders increasingly sit at the centre of digital transformation initiatives, working closely with IT and operational teams.
Forbes summarised this shift clearly:
“The CFO is responsible for executing strategy and controlling the pace of transformation through resource allocation and project management.”
From analytics platforms to AI-driven automation, the right digital tools enable organisations to operate more efficiently and make better strategic decisions.
CFOs should regularly review:
Current technology stack
System integration across teams
Data availability and reporting quality
Opportunities for automation
Failure to keep pace with technology investment can quickly place organisations at a competitive disadvantage.
3. How Can Our Teams Make Better Decisions?
The pace of decision-making has become a defining factor in organisational performance.
During the pandemic, many leaders experienced significant decision fatigue, and the effects are still felt in some organisations today.
When decision-making slows down, it impacts:
business performance
operational momentum
team wellbeing
Finance leaders should therefore prioritise data-driven decision frameworks.
This means ensuring teams have access to:
reliable data
clear reporting structures
consistent financial insights
Better decisions ultimately come from better information and clearer communication.
4. Are We Truly Competitive in Our Market?
Competitor analysis remains critical, but simply matching competitors is rarely enough.
Leading CFOs focus on competitive differentiation, not just parity.
A Gartner analysis highlights the challenge:
“Focusing resource allocation on differentiation can be challenging, especially when business leaders want to pursue growth investments that appear to have a strong business case.”
CFOs should therefore focus on identifying:
where the organisation genuinely differentiates
where competitors are investing
how capital can be deployed more strategically
The goal is not only to stay competitive, but to create meaningful advantage.
5. Are Our External Partners Delivering Enough Value?
Finally, CFOs should regularly review the effectiveness of the organisation’s external partners.
This includes:
recruitment partners
technology vendors
consulting firms
operational suppliers
Regular partner reviews ensure organisations remain cost-efficient while maintaining high performance standards.
Strong partnerships can accelerate growth, while underperforming partners can quietly erode value.
Final Thoughts
The role of the CFO has evolved significantly in recent years.
Today’s finance leaders must balance financial discipline with strategic leadership, overseeing hiring decisions, technology investments, and competitive positioning.
By regularly revisiting these five questions, CFOs can ensure their organisations remain agile, competitive, and prepared for the challenges ahead.
