Legacy skill sets are slowing down CFOs aiming to lead real transformation

The traditional finance hierarchy, with operators at the bottom, analysts in the middle, and strategists at the top, is flattening. AI now handles reconciliations, anomaly detection, and forecasting. RPA has automated invoice handling and journal entries.

However, rather than eliminating roles, these technologies are redefining them. We’re seeing forward-thinking CFOs use AI and automation to unlock capacity for their teams to focus on strategic work such as scenario planning, business partnering, and risk management.

A leading service provider developed an AI-powered cash flow forecasting model that reduced forecasting errors by 30%, helping CFOs make more data-backed decisions.

As a CFO of a global retail firm noted, “It’s not about losing jobs; it’s about shifting the value of those roles. My analysts are now storytellers.”

Talent is the true constraint, not technology

The demand for finance talent isn’t just shifting; it’s accelerating. As enterprises push for faster closes, tighter forecasts, and embedded insights, finance teams are being pulled into product, supply chain, and customer decisions much more than in earlier times. Yet, many lack the fluency or confidence to operate in these spaces. That’s where we’re seeing a new priority emerge: the need not just for building technical skills but strengthening business context, collaboration, and responsiveness at scale.

Leading enterprises are investing in in-house AI labs, allowing finance teams to prototype automation solutions. Others embed data science and financial storytelling into standard training programs to drive more contextual, applied learning.

While digital tools are becoming more powerful, many finance teams still struggle with legacy skills. In our research, 35% of CFOs ranked lack of talent and skills among their top three inhibitors to achieving strategic finance objectives more than cultural resistance or data quality issues (See Exhibit 1).

We’re also seeing signs of progress. One finance and accounting (F&A) service provider we spoke with launched a ‘Finance Digital Academy’ to upskill professionals in AI, automation, and analytics, reporting a 60% improvement in operational efficiency across client engagements.

A CFO at a global energy firm shared, “I’m spending more time on reskilling than reporting. We can’t move forward even with the best tools if we don’t empower our people.”

Still, many teams remain constrained by siloed workflows, resistance to change, and underinvestment in learning. The gap is real, but not unfixable.

The blockers holding finance back aren’t headline-worthy but deeply structural. From disconnected systems to outdated team structures, the underlying issue often comes down to one thing: talent readiness. And that’s showing up clearly in the data.

Exhibit 1: A lack of talent, poor data quality, and cultural inertia are the top barriers stalling finance transformation

Source: HFS Research, 2025

The finance talent playbook: What leading CFOs are doing

Rather than talk about what finance ‘should’ do, we’ve been looking closely at what high-performing organizations are doing on the ground. Here are the patterns emerging:

1. Hiring for adaptability, not just experience: More CFOs are hiring people with adjacent skillsets such as finance talent who can code or data analysts who understand business models.
2. Embedding learning into the flow of work: Instead of relying on annual training days, teams are adopting just-in-time learning: AI labs, workflow-integrated training modules, and cross-functional shadowing.
3. Reframing finance roles around influence: Teams are moving from gatekeeping data to interpreting it. As AI automates the ‘what,’finance is expected to explain the ‘why’ and influence the ‘now what.’
4. Elevating business storytelling: Finance teams are being tasked with communicating insights in ways that resonate with non-finance leaders. As one CFO from a global tech company told us, “It’s not about being right. Rather, it’s about being clear and relevant to what the business needs today.”

These aren’t transformation-at-scale programs. They’re small, deliberate shifts, often team by team, use-case by use-case. But they’re building muscle where it counts.

The mindset sets leading teams apart, not just access to better training. Leading teams treat learning as a continuous loop, not a calendar event. They create space to experiment, reflect, and apply in real time. And most importantly, they’re redefining what success looks like, which is not just faster processes but smarter, more embedded finance partnerships across the enterprise.

Enterprise readiness: The CFO’s call to action

Digital finance transformation is, at its core, a talent transformation. The CFOs making the most progress are building AI-ready teams by prioritizing data literacy, automation fluency, and business communication over transactional processing.

Rather than relying on incremental training to retrofit old roles, we’re seeing organizations embed continuous learning into their finance DNA, creating pipelines of professionals who evolve as quickly as the tech around them.

Upskilling today isn’t about teaching teams how to use new tools but about empowering them to leverage automation for strategic foresight, operational agility, and cross-functional influence. Those who fail to act just will not only fall behind but also leave a leadership vacuum that more adaptable, tech-ready organizations will quickly fill.

The Bottom Line: The tech is ready. Now, finance needs talent that moves with data and speed. CFOs investing in skills, not just systems, are unlocking real business value.

Missed reporting deadlines, sluggish close cycles, and delayed insights aren’t isolated slip-ups. They’re symptoms of a finance function straining against its limits. The organizations making headway aren’t throwing out their systems. They’re investing in the people who can stretch them by rethinking roles, retooling teams, and reimagining what good looks like.

This shift also repositions the CFO. No longer just a steward of cost and compliance, the modern CFO is becoming a builder of enterprise capability. Their remit now includes shaping talent strategy, influencing tech decisions, and embedding finance at the heart of transformation. That’s a broader brief but also a bigger opportunity to lead.