The CFO Pulse Survey
We surveyed 500 finance leaders* to uncover their biggest opportunities, toughest challenges, and evolving perspectives on their role. The findings are distilled into eight key themes, each enriched with insights from our experts. Dive in to explore the results.
This shift is well underway, with an expectation for the CFO to play a strategic role in everything from HR to the digital roadmap.
We’re also seeing their role within risk management grow, as businesses face an increasingly large list of potential threats, from cyber security attacks to remaining compliant within an increasingly complex regulatory environment, which finance teams will need to stay on top of.
Explore how the role could evolve by 2030
Next: How is digital driving this evolution?
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Yet, trying to implement these initiatives on a budget compromises the quality and speed of output – with ‘financial constraints’ cited as the top challenge they anticipate in leveraging digital.
To make technology initiatives work, CFOs need to plan well, clearly define what success looks like, and align a wide range of stakeholders. But we see many companies skip important preparatory talks and jump straight into action, turning manageable projects into high-risk ones.
Find out how to launch successful digital transformation programmes
Next: What role is AI playing in finance functions?
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There is concern around both the internal and external risks it may pose.
While we aren’t seeing industries being overtaken overnight, there is a sense of uncertainty around the risks. Before exploring the efficiencies and competitive advantages of AI, CFOs need to ensure they have a robust risk management framework that prepares them for current and future threats.
Gain insight on navigating this growing risk
Next: How can CFOs secure in-demand skills like AI expertise?
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We’re seeing many businesses return to traditional office-based working. This could be adding to the difficulties CFOs face to secure in-demand skills for their finance function, from ESG to AI expertise. Budget constraints around hiring new talent and upskilling the current workforce make it even more difficult for finance leaders to fill the skills gaps standing between them and growth.
Find out what it takes to attract and nurture top talent today
Next: How can you upskill your Finance Business Partners?
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Finance Business Partners play a key role in this shift. They bridge the gap between finance and other areas of the business, and empower the wider business to make smarter, data-driven decisions – but getting it right comes with its own challenges. Effective finance business partnering requires a separate set of skills to most finance professionals’ day-to-day role.
Uncover four tips for more effective business partnering
Next: What steps can CFOs take to secure funding?
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While the competitive terms and increased flexibility from lenders is a positive sign for CFOs, accessing funds remains challenging. The market is competitive, and the CFOs we surveyed say they continue to face a range of challenges – from a limited availability of credit options to more stringent lending criteria.
Explore how businesses can navigate lending challenges
Next: What role does strategic tax planning play?
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The tax agenda is a growing priority for CFOs today.
As their role becomes increasingly strategic, they’re spending less time in the weeds and more on effective and value-preserving tax risk and governance.
This shift has been driven by various factors.
For example, CFOs typically take a leading role in ensuring compliance with The Criminal Finances Act of 2017 and overseeing tax accounting arrangements as part of the Senior Accounting Officer (SAO) Regime.
CFOs need to fully understand how tax is managed, recorded, and compiled in their business, and by extension to consider a more strategic perspective to enhance business performance.
See how this impacts your role and what steps to take next
Next: A return to M&A activity
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Throughout this time, we've seen increased diligence and careful deal structuring become more common, reflecting a cautious approach in the market. However, it's positive to see the tide is shifting as businesses return to the table with a more stable economic environment.
As always, CFOs should avoid rushing in. It’s important to have a well-thought-out acquisition strategy and assess your funding structure, considering the use of debt versus internal resources, to avoid overstretching financial capabilities. We often see businesses move too quickly and then needing to divest.
Whatever your current priorities are - from attracting and retaining top talent to digital transformation - our specialist teams are here to support you.
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*The CFO Pulse Survey is an anonymous survey of 300 CFOs at businesses with £50 million-£1 billion annual revenue, and 200 GFCs at businesses with more than £1 billion annual revenue. The data was obtained in H1 2024.
All respondents come from UK-based businesses across a range of sectors and regions.
This page and the articles we link to focus on the CFOs' responses. If you would like to know more about the GFC findings, please email financeleaders@uk.gt.com.