As artificial intelligence, automation and cloud technologies transform the finance function, today’s CFOs are expected to do far more than oversee the numbers. Joy Malete, regional finance director for Africa, Middle East and Asia Emerging at Sage, explains why finance leaders must balance innovation with governance, invest in strong data foundations and embrace technology as a strategic driver of resilience, insight and long-term business growth.
As artificial intelligence, automation and cloud technologies continue to reshape business, the role of the CFO is evolving faster than ever. Today’s finance leaders are expected to do far more than oversee financial reporting – they are increasingly responsible for driving strategy, managing technology investments and ensuring innovation is underpinned by strong governance.
According to Joy Malete, regional finance director for Africa, Middle East and Asia Emerging (AMEA) at Sage, finance leaders who embrace technology while maintaining disciplined oversight will be best positioned to create long-term value.
Joy believes technology has fundamentally changed the expectations placed on finance leaders.
“The rise of artificial intelligence (AI) and other emerging technologies is reshaping the role of the CFO. Technology has become a strategic asset for many organisations, helping to drive growth, create efficiencies, improve decision-making and build competitive advantage,” she says.
However, she cautions that technological progress also introduces new risks. Rather than viewing these as purely IT concerns, CFOs should recognise that they carry strategic, financial, operational and governance implications.
“The CFO's role is to ensure that innovation and governance move forward together. The most successful organisations will use technology not only to improve efficiency, but also to unlock better insights, stronger resilience and sustainable growth,” she explains.
Moving from reporting to strategic insight
As finance functions automate routine processes, CFOs are gaining greater capacity to become strategic advisers to the business.
Joy says finance teams have traditionally spent significant time on manual work, leaving little opportunity to focus on future performance.
"By automating lower-value, repetitive work, finance teams are better able to spend time partnering with the business and using modern finance solutions to provide higher-quality insights for fact-based decision-making."
She identifies reconciliations, forecasting, month-end close, budgeting, variance analysis and routine reporting as some of the finance activities that still offer substantial opportunities for automation. Streamlining these processes improves productivity, accuracy and the quality of business insights while enabling finance teams to scale more efficiently.
While enthusiasm around AI continues to grow, Joy argues that organisations cannot expect meaningful outcomes without first strengthening their data foundations.
"The value a company can derive from AI depends heavily on the quality, consistency and accessibility of its data," she says.
She believes organisations should prioritise data governance alongside AI adoption, ensuring trusted data, clear accountability and appropriate human oversight underpin every implementation. AI should enhance human decision-making rather than replace it.
Viewing technology as an investment, not an expense
With businesses facing continued economic pressure, finance leaders are often challenged to balance innovation with cost discipline.
Joy encourages CFOs to evaluate technology through the lens of long-term business value rather than immediate expenditure.
"In many cases, delaying investment may cost more than making the investment at the right time," she says. "Technology investments should ultimately be measured by the business outcomes they enable."
As cyber threats and data governance become increasingly important boardroom issues, Joy believes CFOs have a vital role to play alongside CIOs and other executives.
She notes that cybersecurity risks have financial, operational and reputational consequences, making them a shared executive responsibility rather than solely an IT concern.
"The CFO has an important role to play in understanding the financial impact of these risks, ensuring appropriate investment in controls, and helping the business make decisions that balance innovation, resilience and accountability."
People remain at the heart of digital transformation
Despite rapid advances in technology, Joy stresses that successful digital transformation depends as much on people as it does on software.
She believes finance leaders should invest in education, encourage experimentation and help employees understand that technology enables better work rather than replacing people.
"Change is easier when people can see how technology helps them do better work, not just more work," she says.
She also encourages finance professionals to develop digital fluency by building skills in AI, data analytics, automation, governance and storytelling with data, while continuing to strengthen critical thinking and judgement.
Preparing for the finance function of 2030
Looking ahead, Joy expects finance to become increasingly predictive, agile and closely integrated with business strategy.
"By 2030, I believe finance will be far less backward-looking and much more focused on predictive insights, real-time decision support and strategic business partnering," she says.
To prepare for this future, she advises CFOs to invest in the right technologies, strengthen data foundations and build digital capabilities across their finance teams while remaining closely involved in strategic business decisions.
Her closing advice to finance leaders is simple: "Learn enough about the technology to use it confidently and understand its practical value. CFOs cannot lead innovation from a distance."
