The CFO as Chief Value Officer: Unlocking Growth and Overcoming Barriers in Professional Services

Earlier this month, Kantata hosted a CFO Forum Networking Breakfast that I had the privilege of moderating. Our goal was to bring together Chief Financial Officers in professional services organizations and give them the opportunity to share perspectives on how the role of the CFO is changing and what the most important challenges and opportunities will be going forward.

The conversations I had reinforced a shift I’ve been seeing for some time—CFOs are no longer just financial stewards; they are strategic enablers, driving business success across all functions. More than ever, they need to be involved in operational decision-making, technology adoption, and strategic planning to ensure sustainable growth. The finance function is no longer simply about numbers; it is about creating value across the business.

This evolution is well captured in Egon Zehnder’s report, The Super CFO: A Report on Shifting CFO Responsibilities, which states: “CFOs are not just meeting but embracing new demands beyond their core functions, with 8 in 10 experiencing significant growth in their roles over the past five years. They are going beyond their technical expertise, truly evolving into indispensable ‘superheroes.’”

What one CFO shares in that report aligns perfectly with what we were hearing over breakfast in London this month: “CFO is not a finance role. It is a strategic business role whose mandate is finance.” This is what I’m hearing every time I talk with a CFO about their technology and process needs. CFOs are being called on to contribute far beyond traditional financial management—they are shaping the strategic direction of their companies and ensuring financial discipline supports broader business goals.

Finance as the Catalyst for Operational Excellence

One of the key themes that resonated with me was the fundamental connection between finance and good operations. In many ways, CFOs are becoming “Chief Value Officers,” ensuring that every function within an organization is set up for commercial success. 

“When many people think of what finance does, they just think about invoices or expense reports they’ve had issues with, but it’s obviously so much more than those bookkeeping aspects,” Hester Scotton of Potter Clarkson, one of the CFOs in attendance at the CFO Forum, told me. “That’s why I find the idea of the CFO as ‘Chief Value Officer’ so powerful, and was so excited to talk about it with other CFOs at this event. It captures the cross-functional role that finance leaders now play in shaping target operating models, advocating for the right systems, and ensuring the right level of commercial focus across the business.”

A well-structured finance function drives collaboration across departments, helping teams align on performance goals and execution strategies. That means CFOs have a unique vantage point to drive efficiency, enforce discipline, and, ultimately, maximize profitability. When finance and operations work together seamlessly, businesses can identify growth opportunities, improve project efficiency, and ensure financial sustainability.

From Control to Cash Flow: The Power of Financial Discipline

Another key discussion at the CFO Forum revolved around the importance of strong financial controls and process discipline. Month-end close may not be the most glamorous topic, but when executed well, it provides organizations with the insights and control they need to make smarter business decisions. The ability to close the books quickly and accurately allows companies to respond proactively to financial trends, enabling leaders to pivot strategies in real time.

Getting invoices out and paid faster, optimizing working capital, and ensuring predictable cash flow are all critical priorities. And the right finance-led initiatives can significantly accelerate these outcomes. Finance teams that prioritize cash flow management can help their organizations navigate economic uncertainty, ensure financial stability, and reduce the risk of cash shortages. Companies that refine their invoicing and collection processes, implement digital payment solutions, and establish clear financial policies are often the ones that maintain a competitive edge.

Additionally, proactive finance teams are investing in predictive analytics to anticipate cash flow challenges before they arise. Leveraging data-driven insights can help businesses better understand their revenue patterns, improve budget forecasting, and strengthen financial decision-making.

AI in Finance: Excitement, Hesitation, and the Path Forward

Of course, no discussion about the future of finance is complete without addressing AI. There was a shared enthusiasm in the room about AI’s potential to automate core finance functions—from intercompany reconciliations to billing automation. However, what struck me most was the hesitation many CFOs expressed about where to start. While AI presents game-changing opportunities, organizations must approach its implementation with clear priorities and a phased adoption strategy.

Breaking AI adoption into tangible steps is key. Rather than aiming for a full-scale transformation overnight, CFOs should focus on incremental wins. Automating high-volume, repetitive tasks is a logical starting point, freeing up finance teams to focus on more strategic initiatives. Implementing AI-driven financial reporting, automated compliance tracking, and intelligent forecasting tools can help finance teams become more agile and data-driven.

Another major consideration is change management. Many finance professionals are concerned about how AI will impact their roles, and successful adoption requires clear communication and upskilling initiatives. CFOs must champion AI as a tool that enhances, rather than replaces, human expertise. Organizations that foster a culture of continuous learning and provide AI training programs will see higher adoption rates and better business outcomes.

The organizations that embrace this shift will be the ones that unlock new levels of efficiency and insight. AI-driven finance functions will be able to provide real-time financial intelligence, optimize cost structures, and drive long-term profitability.

The CFO’s Role in Spearheading Technology Investment

As CFOs embrace their expanded strategic role, their influence over technology investment is becoming increasingly central. In professional services businesses, CFOs have long been the final stop on the funding journey for key technology solutions like Professional Services Automation (PSA). Traditionally, their role has been to understand the benefits well enough to justify the investment. But with the shifts outlined above, the expectation is no longer just to understand the benefits—it’s to live them.

From AI-powered forecasts that remove the manual effort and guesswork from financial planning to precise visibility into capacity, utilization, and demand, CFOs now have a direct stake in ensuring their organizations can scale efficiently. The cost of inefficiencies, such as an unoptimized workforce leading to unnecessary overhead, is too high for CFOs to ignore. In their emerging roles as strategic stewards, finance leaders must actively seek out solutions that remove barriers to execution, align with long-term business goals, and drive cost-effective, scalable growth.

The Road Ahead

The CFO role is changing, and that change is happening fast. Finance leaders in professional services organizations must embrace their broader strategic mandate—ensuring that operations, systems, and commercial strategy align to drive growth. By positioning finance as a proactive business partner, enforcing strong financial controls, and taking thoughtful steps toward AI adoption, CFOs can clear the blockers standing in the way of their strategies.

Beyond finance and operations, CFOs must also consider their role in fostering company culture and talent development. Engaging with leadership teams across departments, advocating for employee well-being, and prioritizing long-term talent strategies are becoming essential responsibilities. As businesses evolve, so too must the CFO’s approach to leadership.

The conversations at Kantata’s CFO Forum Networking Breakfast reinforced what I see happening across the market: CFOs are stepping up as architects of value creation. They are no longer just financial gatekeepers but forward-thinking leaders driving business transformation. It’s an exciting time to be leading finance in professional services, and I’m eager to see how the role continues to evolve.