What is one essential piece of technology or software that you believe every CFO should be familiar with in today's business environment? Why is it so important and how has it benefited you in your role?

Question

In today's rapidly evolving business landscape, Chief Financial Officers (CFOs) must stay ahead of the technological curve to drive financial success. This comprehensive guide, featuring insights from industry experts, explores essential technologies that every CFO should be familiar with to optimize financial operations. From automating workflows with no-code platforms to leveraging blockchain for innovative financial management, these tools are set to revolutionize the way CFOs approach their roles in the digital age.

Martin Weidemann · Answer

If CFOs are not using automation solutions, they are budgeting at a slower pace than they could be. One fundamental piece of software that changed my operations at Pagoralia was Make.com, which is a no-code automation platform that connects data across CRMs, accounting software, banks, and customer communications.
Pagoralia helps Mexican SaaS companies with their recurring billing, and Make.com is the hidden engine of our real-time finance dashboards. It is used to reconcile transactions between our bank's feeds, Stripe, and internal billing systems. It can provide write-ups on failed payments, highlight the risk of churn, and even produce auto-created accounting entries in Xero. Given our lean fintech team, it took the place of a full-time financial ops analyst and provided over 30 hours of monthly manual tasks.
Why should CFOs care? Because automation solutions like Make.com reduce tasks and costs, but fundamentally provide visibility and control at scale. Automation platforms take siloed systems and create an orchestrated workflow, which is imperative in quickly moving markets for compliance, forecasting, and investor reporting. This is particularly critical in emerging markets like Mexico, where gaps in infrastructure can slow the upstream flow of economics with delayed data flows, and orchestration of data will not be optional; it will be essential.

Curtis Smith · Answer

If there's one tool every CFO should understand today, it's cloud-based financial software that tracks spending in real time—especially tools that link budgets to everyday business activities like employee travel and vehicle use. These systems do more than just handle accounting—they give you a live picture of where your money's going and where it's being wasted.
Why is this so important? Because businesses don't have the luxury of waiting weeks or months to see what's working. Costs are rising, teams are more mobile, and decisions need to be made quickly. A good cloud system gives CFOs the ability to spot trends early, adjust budgets on the fly, and clearly understand how choices—like how much to pay employees for using their own cars—are impacting the bottom line.
In my own experience running mBurse, this kind of software has been a game-changer. It helped us see that many companies were overpaying some employees and underpaying others when it came to vehicle reimbursements. By using accurate, location-based data, we've helped them create fairer, more tax-friendly programs—saving money and keeping employees satisfied.
It's also helped us as a company make faster, smarter financial decisions. When everyone—from finance to operations—can see the same real-time numbers, conversations become clearer and action happens faster.
In today's world, CFOs need more than spreadsheets and end-of-month reports. They need live tools that turn data into action. That's not just helpful—it's essential.

Sumit Chandrawal · Answer

One essential piece of technology every CFO should be familiar with today is an advanced ERP system like NetSuite or Microsoft Dynamics. These platforms go beyond traditional accounting tools by integrating financials, inventory, order management, and reporting into a single ecosystem—crucial for real-time decision-making.
In my role helping e-commerce businesses streamline financial operations, ERP systems have been game changers. They reduce manual work, eliminate data silos, and provide a unified view of business performance. For example, by automating routine tasks like revenue recognition and accounts reconciliation, we've significantly shortened the close cycle and improved financial accuracy.
In today's fast-paced environment, CFOs need more than just numbers—they need insights. And a robust ERP gives you exactly that, helping drive smarter, data-backed decisions at every level of the business.

Brian Chasin · Answer

For CFOs navigating growth-stage companies or real estate ventures, understanding Argus Enterprise is essential. It's the gold standard in commercial real estate forecasting and valuation. I've used it extensively to model the feasibility of new development sites and align financial structures with projected revenue. Its scenario analysis and DCF modeling features allow for fast, data-backed decisions, especially helpful when securing equity partners or navigating rezoning hurdles.
In launching Soba New Jersey, Argus enabled me to vet multiple property options across New Jersey and New York with confidence. It helped reduce financial risk and streamline presentations to investors and stakeholders. Without it, we wouldn't have moved as quickly from concept to launch.
For any CFO managing physical assets or evaluating capital-heavy projects, this platform is a must.

Alex Todd · Answer

If there's one piece of technology every CFO should have on their radar right now, it's behavioral accountability platforms. Not exactly a household term, but systems like ReliablyME are game-changers. They track commitments and follow-through across teams, which sounds small, but the ripple effect is huge.
Here's the thing: traditional metrics - P&L, balance sheets, KPIs - only tell part of the story. They show outcomes, not behaviors. And CFOs? They're not just bean counters anymore. Strategy, culture, risk; those are all on their plate. So understanding how work actually gets done (or doesn't) is essential, especially when your workforce is spread across time zones and Slack threads.
Platforms like ReliablyME close that execution gap. They don't just say "this team hit target X," they show why, because the team made commitments, kept them, and showed up. It's behavioral data, turned into operational insight. Super useful for accountability, but also employee engagement. Culture - all that "soft stuff" that actually drives hard results.
In my world - running a trust-focused social enterprise - it's been huge. We've finally got a way to tie ROI to things like training and compliance, which used to feel pretty intangible. And it's not Big Brother; it's about recognizing people who follow through. Quietly powerful.
Bottom line: this kind of technology helps CFOs see the story behind the numbers. Not just the what, but the how. Which is pretty much everything when you're trying to lead in a world where autonomy and agility are the new normal.

Karen Sampolski · Answer

For CFOs of small to mid-sized companies, QuickBooks Online combined with a smart dashboard tool like Fathom is a game changer. At Viking Roofing, we needed something powerful yet easy to implement with a lean team. Fathom links directly to our QuickBooks data and turns it into intuitive visuals that even non-finance colleagues can engage with. I use it to track gross margin by job type, identify cost trends, and run "what if" scenarios for materials and labor pricing. These tools have improved collaboration with operations and sales and helped us stay ahead of budget creep. In small businesses, speed and clarity matter more than complexity. This combo gives us just that: actionable insights without the overhead. Every CFO should know how to pair foundational accounting software with nimble reporting tools.

Mircea Dima · Answer

It is recommended that every CFO knows how to use modern FP&A tools such as Cube or Datarails, which will integrate with existing spreadsheets and accounting systems. 
These applications enable real-time forecasts, scenario modeling, and automatic budget tracking without forcing teams to leave Excel, as Excel remains the CFO's battleground.
Efficiency is not the only thing that makes them indispensable, but also clarity. In my example, I required quick, radical means of comparing burn rate forecasts relative to engineering hire scenarios and marketing expenditure transitions. 
The frequency of changes in priorities could not be matched in manual spreadsheets. I no longer made guesses when I had an FP&A layer sitting on top of our stack. I could now see a running forecast of cash runway analysis using the real conversion rates of the pipeline, not wishful thinking.
In my case, I am not a CFO, but as someone making financial decisions on a daily basis, I was able to save myself from at least two bad hires that we did not need yet. Each dollar saved was directly added to AlgoCademy's survival runway. That was the margin of clarity.

Eugene Lebedev · Answer

I am a big advocate for using Power BI for financial reporting. It plays a critical role in modern financial analysis by addressing several pain points common in traditional Excel-based reporting. Power BI makes report sharing significantly easier—instead of handling massive Excel files that can crash devices, users can simply access interactive reports through a web link. It also offers superior data visualization tools, enabling clearer communication and deeper insights for decision-making. Perhaps most importantly, Power BI supports automation through Power Query, allowing for seamless data extraction and transformation. This automation saves valuable time and aligns with the growing demand for more efficient, real-time financial analytics—making it a strategic asset for any finance team.

Paul Owen · Answer

As a qualified FCA with a traditional background at PwC, now partnering with leading innovators in blockchain and digital finance, I view blockchain technology as a foundational pillar for the modern CFO. This is not about hype; it is about harnessing decentralised finance to unlock new efficiencies, enhance transparency, and futureproof financial operations.
Blockchain enables finance teams to operate with unprecedented real-time visibility and automation. From streamlined audit processes to automated compliance via smart contracts, the technology shifts finance from a historical record keeper to an agile strategic driver. CFOs leveraging these capabilities can proactively manage risk, strengthen governance, and deliver insights faster than ever before.
More importantly, blockchain fosters a culture of continuous innovation within finance functions. It breaks down silos, accelerates collaboration across teams, and empowers CFOs to lead transformation initiatives that align with rapid market evolution.
For Web3 CFOs, blockchain is the toolkit for building resilient, scalable, and adaptive financial infrastructures. It is not simply a technology choice; it is a strategic imperative that redefines how value is created, measured, and protected in decentralised economies.
In this landscape, finance leaders who integrate blockchain thoughtfully will not only optimize operations but also unlock new strategic opportunities and build trust in a rapidly shifting world.

Joe Benson · Answer

One essential piece of technology that every CFO should be familiar with today is ChatGPT. While it may not be a traditional financial tool, its ability to rapidly analyze, summarize, and generate content has made it incredibly valuable in my day-to-day role. From drafting board-ready summaries of complex reports to generating scenario-based financial models or even helping translate financial jargon into clear language for other departments, ChatGPT has become a reliable and efficient assistant.
What makes it so important is its versatility. I've used it to review contracts, prepare investor Q&A documents, refine internal communications, and even brainstorm strategic frameworks for budgeting and forecasting. It saves time, enhances clarity, and helps ensure that important information is communicated accurately and professionally.
In a role that demands precision, speed, and the ability to bridge finance with strategy, ChatGPT has allowed me to work smarter—not just faster. For any CFO, it's a tool that offers an edge in both decision-making and communication. The key is knowing how to guide it well, so it becomes a multiplier of your expertise, not just a convenience.

Matthew Goulart · Answer

Hi,
One piece of technology I believe every CFO should be intimately familiar with today is advanced call tracking software integrated with CRM analytics, especially for performance-based digital marketing. While CFOs are traditionally numbers people, too many still underestimate the revenue leakage that occurs between ad spend and actual sales. At Ignite Digital, we implemented this tech to directly link ad performance with real-world revenue for clients, not just digital leads. When we onboarded Just Bathrooms, for example, we were able to trace over 78% of their new business back to specific SEO and Google Ad campaigns. That level of attribution allowed their finance team to allocate budget far more aggressively and cut waste by 40% in just one quarter.
This is where the rubber meets the road for CFOs; those who rely solely on legacy metrics like impressions or click-through rates are missing the full picture. With platforms like CallRail or WhatConverts, paired with a robust CRM, CFOs can stop guessing and start forecasting with precision. In today's volatile economy, where every dollar spent needs to tie back to ROI, this kind of insight isn't a luxury. It's survival.

Mark Baars · Answer

One essential piece of technology every CFO should be familiar with today is predictive analytics software. In a world where data is abundant but clarity is rare, being able to forecast trends, model scenarios, and make strategic decisions based on reliable predictions is game-changing. Predictive tools enable CFOs to transition from reactive budgeting to proactive planning. They don't just report what happened—they help anticipate what's coming and how to prepare for it.
In my role, this kind of insight is invaluable. It allows me to understand not just how marketing is performing now, but how shifts in customer behavior or market dynamics might affect future results. That level of foresight changes the way you allocate budget, assess ROI, and align with overall business goals. It's also made collaboration between marketing and finance far more strategic. We're no longer talking past each other—we're using the same forward-looking lens to drive impact.
For CFOs, embracing predictive analytics isn't just about managing risk. It's about leading with confidence, making smarter bets, and being able to adapt fast when the landscape shifts. I've seen firsthand how much more agile and aligned a business becomes when finance has that kind of capability at its fingertips.

Jay Whiteley · Answer

What is one essential piece of technology or software that you believe every CFO should be familiar with in today's business environment? Why is it so important and how has it benefited you in your role?
For the new CFO: Any CFO who's not familiar with up-to-date revenue intelligence platforms that integrate pricing, performance prediction, and multi-channel distribution analytics, regardless of their industry, is at a disadvantage. We've found that platforms like Beyond Pricing or PriceLabs have become not just important for day-to-day rate optimization, but also for helping us align our financial strategy with real-time market behavior. More generally, I'd argue that the most important platforms are those that close the loop between enterprise-level financial planning and the way a company actually gets things done.
RedAwning, where I work, has taken this to the next level, automating these pricing engines and integrating them into the company's internal analytics stack—where it feeds directly into dashboards showing gross profit by channel, geography, and inventory type. This enables our finance team to move from static forecasts to dynamic scenario modeling. You're not simply evaluating how you performed — you're influencing how you might do, based on real inputs.
For instance, as demand signals started to change post-pandemic, conventional trailing indicators had lagged too much. Two weeks earlier than normal, our system flagged a compression window for a top coastal market. It was that nugget of information which enabled our finance team to reallocate promotional budget and reforecast owner commissions, helping to shield margins and set expectations. Without that intelligence layer, we would have been operating at a slower consensus and, quite possibly, higher cost.

Harman Singh · Answer

Similar to CFOs, our job as cybersecurity professionals is to help an organization lower the probability of future risks from happening. From our experience of working with CFOs at mid-size organizations where business and ops decisions including technology are under the CFO, I've learned a couple of things worth sharing here.
The most critical technology decision every CFO should understand is the fundamental separation between IT service providers and cybersecurity specialists - yet this is where I see the biggest strategic mistakes being made. The harsh reality is that asking your IT provider to handle cybersecurity is like asking someone to mark their own homework. When the same company managing your infrastructure is also responsible for securing it, there's an inherent conflict of interest that compromises objective security assessments and incident response.
From my experience working with finance leaders globally, CFOs often consolidate these services thinking it simplifies procurement and reduces costs, but this approach fundamentally misunderstands how cybersecurity maturity actually works. Effective cybersecurity requires the delicate balance of people, process, and technology - something that's impossible to achieve when your IT provider is essentially auditing their own work. When breaches occur, having independent cybersecurity oversight ensures objective investigation rather than potential cover-ups or deflection of responsibility.
The CFOs who genuinely protect their organizations understand that cybersecurity isn't just another IT service - it's an independent governance function that requires separation of duties. While consolidating vendors might streamline your purchasing process, it creates dangerous blind spots that sophisticated attackers exploit, ultimately costing far more than the initial savings.
I do think this provides you with something new for CFOs to be aware of. Happy to discuss specific frameworks for structuring independent cybersecurity oversight or provide insights on evaluating the true cost of vendor consolidation versus security.

14 Essential Technologies Every CFO Should Be Familiar With

14 Essential Technologies Every CFO Should Be Familiar With

Automate Financial Workflows with No-Code Platforms

Leverage Cloud-Based Real-Time Spending Trackers

Integrate Operations with Advanced ERP Systems

Model Real Estate Investments Using Argus Enterprise

Track Team Commitments with Behavioral Platforms

Combine QuickBooks Online with Smart Dashboard Tools

Streamline Forecasting with Modern FP&A Software

Enhance Reporting and Analytics with Power BI

Embrace Blockchain for Innovative Financial Management

Utilize ChatGPT for Versatile Financial Assistance

Link Ad Performance to Revenue with Call Tracking

Drive Strategic Decisions with Predictive Analytics Software

Optimize Pricing with Revenue Intelligence Platforms

Separate IT Services from Cybersecurity Specialists