How CFOs can champion change through tech adoption

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Kathryn Eskandarian is CFO of integrated lease management, accounting and reporting platform Visual Lease.

As businesses navigate change, they are increasingly relying on new and emerging technology to streamline operations and optimize strategies. Recent research highlights this trend, showing that one-third of CFOs plan to increase IT and technology spending in 2025. What’s more, a recent survey of finance executives found that 100% of those surveyed believe AI will benefit the Office of Finance in multiple ways over the next five years, according to the latest Visual Lease Data Institute (VLDI) report.

This statistic reflects a new mindset among organizational leaders: Innovative technologies like AI are not merely buzzwords or passing trends. They’re foundational drivers of organizational change, powering strategic decision-making and positioning CFOs at the forefront of digital transformation.

As financial leaders embrace this evolution, they must navigate a sea of complex information, balancing risks and opportunities to identify tools that will deliver value. This can be challenging, particularly for finance teams, where the need for accurate reporting leaves no room for error, and any technology adoption requires a controlled environment and human oversight.

To lead successfully, CFOs must bridge the gap between strategic vision and execution, adopting technologies that deliver meaningful outcomes while protecting their organizations from potential risks.

Risks and opportunities: What CFOs need to know

Finance teams often turn to new or emerging technologies to address two key needs: streamlining manual processes and meeting reporting requirements. 

Many tools on the market are extremely effective in both of these areas, but they can also slow down companies if they’re not drawing from accurate and complete datasets.  

Before integrating new solutions, finance leaders need to ask the following questions: 

  • What tools are we already using?

  • How are we ensuring this technology aligns with our internal controls framework?

  • Will this technology provider grow with our organization? 

  • How are we working with our counterparts in IT? Are there opportunities to improve this collaboration? 

  • How will we validate the outputs from this new technology?

Best practices for tech implementation

Once finance leaders identify a solution they believe will benefit their business, they can follow a few key steps to ensure a smooth implementation:

1. A phased approach: Start by introducing new tools into low-risk, manual tasks that could benefit from automation, interoperability, or advanced record-keeping, while still relying on a human touch to review and validate outputs. This allows you to achieve efficiency gains immediately without compromising critical operations. This framework also allows teams to test and refine tech applications in a controlled environment, building confidence in their new systems and addressing issues early.

2. Consult with your IT team: CFOs and other finance leaders need to establish a strong working relationship with their IT team to understand their organization’s existing tech stack. By working directly with IT, finance teams gain an understanding of any technical roadblocks. For example, they can assess whether a new solution integrates easily with existing systems or requires significant time and effort. They can also evaluate an organization’s ability to leverage AI capabilities or determine whether the data an AI system depends on is scattered across the organization.

With this critical information in hand from the outset, finance leaders can effectively assess ROI and manage expectations around implementation, onboarding and beyond.

3. Learn which tools your vendors use: Finance leaders should engage in discussions with prospective and current vendors about their plans for incorporating emerging technology into their product roadmap and vision. These conversations offer a comprehensive understanding of how new technologies might already be affecting the company, whether they can rely on current vendors to meet emerging needs, or if they need to consider an entirely new solution.

How finance executives can prepare to lead tech adoption

In the coming years, we can expect solutions that are more tailored to address the specific needs of organizations. While these specialized tools are ideal for the Office of Finance, it’s crucial that they integrate seamlessly with existing tech stacks. This ensures quick adoption and enables finance leaders to connect their work with other areas of the business. 

Ultimately, CFOs will play a central role in leading this transformation, not only by adopting cutting-edge technology but also by fostering a culture that embraces innovation and continuous improvement. By championing strategic tech investments, they can drive sustainable growth, streamline operations and ensure their organizations are positioned for long-term success.