By James Hunter, CFO at AccountsIQ
In an era defined by geopolitical instability, shifting markets, and rapid technological disruption, business strategies are in a constant state of flux. Yet, despite the critical importance of informed decision-making, as highlighted in our new CFO Mindset report, 65% of CFOs and finance leaders believe financial strategies are sometimes shaped without sufficient data or insight – and 29% say this happens often or always. This gap is not just a minor operational oversight, it’s a significant risk.
The role of the CFO is evolving beyond traditional number crunching and reporting, expanding into strategic leadership and key decision-making that influences every part of the organisation. In this new landscape and with the emergence of new pressures, relying on instinct or historical precedent is no longer enough. Guesswork leaves companies vulnerable to costly missteps.
Data, therefore, is the only true constant. It enables finance leaders to forecast with greater accuracy, adapt to disruption, and lead with confidence.
The modern challenges facing finance teams
In today’s climate, finance teams are up against increasingly varied and widespread obstacles.
External challenges like inflation and cybersecurity threats present an ongoing danger to operations. Indeed, in our 2025 report, both factors were in the top three answers chosen by CFOs for what challenges they said keep them up at night. There are also rising compliance demands like ESG reporting, which CFOs are increasingly taking ownership over, and regulatory complexity across multiple jurisdictions. And, of course, the rapid advancement of AI presents both opportunities and challenges for finance teams to handle.
But there are internal challenges exacerbating these external demands. Pressure is mounting from investors and boards to receive real-time, accurate insights on financial performance instead of retrospective reporting alone. Finance teams are also expected to hit revenue and profit targets and maintain cash flow despite the uncertain climate and, as our report shows, challenges in accessing talent.
It makes sense, then, that the most selected answer for what challenge keeps CFOs up at night was ‘real-time access to data’, with ‘accuracy of reporting’ also chosen by the same percentage that picked ‘cybersecurity threats’. Uncertainty is now a given, and with CFOs facing a stream of present day challenges, real-time data and visibility is an essential tool for making informed decisions.
Taking control with advanced analytics and forecasting tools
Modern finance technology empowers CFOs to replace uncertainty with clarity and control. Cloud-based finance management platforms can integrate with a range of business-critical systems and bank accounts, unifying data from across the organisation to create a single source of truth. This includes mid-sized companies contending with consolidating accounts for multiple entities and subsidiaries. By collating data from across the organisation into one location, finance teams have the insights to make timely, responsive and predictive strategic decisions.
What are some of the advanced software features helping finance leaders to manage uncertainty?
The latest finance platforms provide a range of advanced analytics capabilities compared with traditional systems. Real-time dashboards with business intelligence coding, for example, allow CFOs and their finance teams to drill down on the performance of various dimensions across their group (like divisions, cost centres or locations) and measure it against key KPIs specific to their business.
Then, features like accurate cashflow forecasting enable finance teams to spot and predict any inconsistencies in performance. Crucially, with this data to hand, teams can understand how significant business plans will impact the balance sheet, both positively and negatively, and how best to allocate resources – in uncertain times, this insight is golden.
Steering organisations through 2026 and beyond
It’s not just about adopting software, but choosing the right software. Many mid-sized companies in particular have outgrown their entry-level finance platform and need more capability. When making their software decision, however, some finance leaders believe they need an expensive platform like an ERP to manage their growing needs (or that it is their only option).
But these platforms often have too much functionality: our report also revealed how massive chunks of finance software go unused by businesses. This leads to teams significantly overpaying for features and having to form manual workarounds for tasks due to system complexity. Subsequently, the platform actually impedes data visibility.
Therefore, it’s vital finance teams find software that suits their needs and size. That comes from conducting a detailed needs analysis that outlines a finance team’s pain points and what capabilities they actually require. If the platform suits your current needs and possesses potential to scale with your company, with the ability to integrate new entities and technologies like AI, for example, then you can effectively steer your organisation through 2026 and beyond.
The power to lead with data
The challenges facing finance teams are vast and highly uncertain. But in uncertain times, the CFO and finance team’s input becomes even more valuable to business performance and strategy – and their effective leadership rests on data access and visibility.
Access to live data empowers CFOs and business leaders to make swift, strategic decisions and identify trends in a dynamic market. The latest finance software can provide a central hub of financial data and reporting capabilities that enable finance teams to accurately perform activities like scenario planning, forecasting and analysis. The better they can carry out these tasks, the more resilient they can make their organisation to uncertainty and, ultimately, give themselves a competitive edge.
Guesswork is not an option. Better data gives finance teams the clarity and control they need to safely lead their organisation through volatile conditions both now and in the years ahead.
