How CFOs Can Empower Teams Through a Human-centric Approach To Finance Modernization

Article

August 29, 2025

Imagine your finance department has just recently completed a major overhaul of its systems — new automation tools, AI-powered forecasting models and a sleek enterprise resource planning (ERP) platform to connect everything. Workflows are set up, and dashboards are live. On paper, the implementation is finished, and everything appears modernized.

Your finance team should be ready to “rock and roll,” but behind the scenes, they are still facing challenges. Why? Because a people-first finance approach is the linchpin of successful finance modernization.

Modernization Is More Than Technology

Chief financial officers (CFOs) today face rapid technological change and shifting workforce expectations, transitioning from back-office functions to strategic business partners that increasingly demand the need to modernize their organization’s financial operations.

When starting a modernization program, many finance leaders may only focus on accounting software and ERP systems to improve processes and leverage AI and automation. These are essential but, on their own, are not sufficient. True digital transformation isn’t just about tools or technology; it’s about the people who use them. Transformation is most effective when grounded in business outcomes, and success occurs when people are equipped to use modern tools for greater impact.

Automating manual reconciliations and reporting frees capacity, but the real value comes when teams redirect that time toward higher-value activities: accurate forecasting, scenario planning, advising stakeholders and influencing decisions in real time. Dashboards and integrated planning tools only deliver a return on investment (ROI) when teams have the skills and confidence to interpret data, identify trends and act proactively. In short, while technology accelerates finance, people steer the ship.

With this in mind, CFOs can derive greater value from their technology investments and build resilient, future-ready financial teams by fostering the right mindset, support and upskilling.

Mindset: Shifting How Finance Teams Think and Work

Behavior Change: Shifting Mindsets, Not Just Metrics

Transformation requires more than new metrics; it demands a shift in mindset. Finance professionals must be empowered to see themselves not just as processors of data, but as strategic collaborators who influence decisions and drive value. This means embedding behavior-based goals alongside key performance indicators (KPIs), modeling new ways of working, and creating space for reflection and learning.

Self-identification: “How Do I Create Value Here?”

When individuals understand and articulate how they create value, they become active participants in the change. We have seen success when finance teams are invited to co-author their role in transformation, whether through workshops, storytelling or leadership modeling. This helps shift identity from “compliance checker” to “insight generator,” reinforcing a culture of ownership and innovation.

Support: Creating a Culture That Embraces Change

As CFOs know all too well, finance teams tend to be risk-averse and wary of disruption. With technology and AI shifting processes, they may be concerned about job security or simply feel more secure and comfortable with legacy processes. In a 2024 Evanta CFO survey, 80% of respondents said they were actively engaged in finance change management activities, frequently citing resistance to change and company culture as obstacles to modernization.

To move teams forward, CFOs need to clearly communicate the “why” behind the transformation from day one and must actively participate in the execution of change. This means involving teams early to build ownership and pacing changes thoughtfully to avoid overload, and fostering a collaborative culture that encourages experimentation and embraces a curious mindset.

When executive leadership models the vision, breaks down silos, and ensures that transformation is championed from the top, they create the psychological safety and shared ownership needed for lasting change. When people feel heard and supported, they’re more likely to embrace change, and even step forward as drivers of transformation.

Upskill: Building Capacity and Capability for Modern Finance

The Talent Challenge in Finance

Attracting and retaining skilled finance talent has never been more complex. According to a 2024 Bloomberg analysis of Bureau of Labor Statistics data, there are 340,000 fewer accountants today compared to five years ago. Adding to this talent shortage, today’s finance teams are expected to deliver more than accurate books and records — strategic insights and advanced data analysis have become a core requirement of the role.

As the industry evolves, finance professionals must adapt to a fast-paced, data-driven, global environment. New talent expects meaningful work, modern tools and clear growth paths, while seasoned professionals must embrace automation and agility to stay ahead.

Altogether, this creates the perfect storm for CFOs. Finance must evolve, not just to stay competitive, but to remain relevant to top talent. Without a clear strategy to attract, develop and retain people, even the best technology investments will fall short.

Upskilling for Strategic Finance

Modern tools require modern skills. That’s why capacity and capability building should sit at the heart of any finance transformation strategy.

Through the experiences of our clients and our own organization, at Cherry Bekaert, we have learned that the most effective upskilling programs go beyond technical instruction. They additionally foster a culture of collaboration, experimentation and curiosity. This is how we move teams from the status quo to new, strategic behaviors.

We focus on three core competencies:

Tech Fluency: Building confidence in using digital platforms, automating workflows and extracting insights.
Data Literacy: Equipping teams with the tools to efficiently and accurately manipulate data, build robust forecasts, model scenarios and turn numbers into narratives.
Strategic Thinking: Helping finance professionals to shift from “what happened?” to “what’s next?”, so they can advise leaders and shape business direction.

Embedding continuous learning into your finance team’s DNA requires more than a few workshops. It calls for well-designed training programs, peer learning and leadership modeling, establishing a culture that celebrates curiosity and will set your team up for future success as your business evolves and modernizes.

Empowering People To Power Finance

As CFOs look to modernize, the message is clear: put people first. Investing in your team’s skills, culture and ways of working ultimately results in your technology investments delivering sustainable impact and elevating finance’s role. When empowered, finance teams can unlock new levels of strategic growth and resilience on behalf of the entire business.

How Cherry Bekaert Can Help

At Cherry Bekaert, we have found that aligning finance KPIs with enterprise goals, identifying inefficiencies and gaps, and building one- to three-month, quick-win roadmaps can be a good place to start. We’ve helped clients with the execution to support a culture of maintaining improvements and sustainably moving finance from compliance centers to trusted drivers of business performance and growth.

But KPIs alone don’t drive transformation. To truly embed change, organizations must also focus on behavioral alignment and how individual contributors self-identify within the evolving finance function.

Our CFO Advisory team specializes in transforming finance functions through a people-centric lens and a targeted focus on process automation and ERP finance transformation and consulting — leveraging the latest automation technologies to streamline core financial processes, free up resources for strategic priorities and reduce manual effort — as well as organizational design.

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