CFOs must stop perfecting the budget and start shaping the future

Date:
Mon, 04 May 2026 10:40:35 +0000

Description:
Why CFOs must move past the objective of reporting/ forecasting perfectionism to become a true growth driver for their business.

FULL STORY ======================================================================Copy link Facebook X Whatsapp Reddit Pinterest Flipboard Threads Email Share this article 0 Join the conversation Follow us Add us as a preferred source on Google Newsletter Subscribe to our newsletter Working in finance is a numbers game. And numbers are often synonymous with accuracy. But its well understood that accuracy, when it comes to preparing for the future, is near impossible.

But that can be a hard pill to swallow for people who live in the numbers, leaving many chasing perfection in every aspect of the job. Sacha Herrmann Social Links Navigation

CFO at Soldo. The outcome is more often than not counterproductive. Rather than focusing on value-driven work, finance teams can get easily drawn into a time-consuming cycle of reflecting on and justifying historical data , which creates little more than a false sense of control. Article continues below
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In fact, data shows us that 50% of finance leaders take more than six
business days to close their books.

In a volatile economic environment, businesses need faster financial planning cycles to be more agile in the face of uncertainty. For that, the finance function needs a mindset shift. Striving for right, not perfect Finance teams focus on perfectionism likely stems from constraints imposed by legacy systems. Hours spent trawling through Excel deliver very little strategic value, yet are often justified by these systems and internal expectations of finance teams.

However, this backwards-looking approach often raises questions around accuracy. Data from previous quarters, filtered through legacy systems with built-in delays, is rarely fit for purpose when youre dealing with economic volatility and inflation and trying to make timely, well-informed decisions
on business spend. Are you a pro? Subscribe to our newsletter Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed! Contact me with news and offers from other Future brands Receive email from us on behalf of our trusted partners
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The focus should be on getting things as close to right as possible, efficiently, rather than chasing perfection. Adopting tools that enable
faster reporting and budgeting cycles can help, allowing organizations to
stay agile while freeing up valuable time for finance teams to focus on forward-looking strategy and decision-making. AI deems perfectionism unnecessary The good news for finance teams is that AI is rapidly rendering manual data consolidation, static planning, and report polishing redundant.

So many of the processes associated with reporting and forecasting perfectionism, such as identifying patterns, checking attention to detail,
and detecting inconsistencies in reports, can be automated. What to read next Speed isnt strategy: Human judgement must be central to AI-led decisions How AI is rewriting the ERP investment playbook Finding stability in an age of relentless AI innovation

Yet, for many finance leaders, this remains an untapped opportunity. Almost 80% report that their teams are still operating on outdated tools and technologies, creating friction and slowing progress. Part of the reason may be that finance teams are often cautious about adopting AI tools .

Theyre responsible for both internal and often external finances, so, understandably, theres a concern about losing control. In reality, though, AI can give them far more real-time visibility and oversight than any legacy
tool or system ever could.

Beyond streamlining reporting, AI is pivotal in enabling real-time, insight-led decision-making. It supports a more forward-looking, precise approach to planning by combining live data with predictive analytics to anticipate external economic shifts and better align internal budgets.

Simply knowing that AI support is there can also help ease that
long-ingrained perfectionist mindset and the time it tends to drain from
these processes.

For finance leaders in particular, its a clear sign that its time to champion investment in tools that are truly fit for purpose and able to keep pace with the speed and complexity of modern business. Lifting cultural barriers For
the rest of the C-suite, it may feel appropriate (and less disruptive) to
keep CFOs and finance teams solely focused on reporting and number-crunching, all of which are crucial to keep businesses running.

But that approach misses a big opportunity. CFOs are right at the heart of
the organization, with a uniquely objective, cross-functional view of how money moves through the business.

The challenge CFOs should now be tasked with is integrating data, interrogating underlying assumptions, and enabling sharper, more informed decision-making. This is at the core of a progressive finance mindset, where finance teams operate at the intersection of people, data and technology.

The most effective CFOs will be empowered to let go of perfectionism and achieving a false sense of control, and act as connectors across their business. Theyll partner closely with the CEO to provide insights that drive strategic growth, and work cross-functionally to align investment priorities, digital capabilities and business outcomes.

For this shift to take hold, the wider C-suite must actively support the evolving role of the CFO by recognizing their strategic vantage point,
lifting information silos, freeing up budget for modern tools to enable it, and embracing a right, not perfect approach to financial planning and reporting. Shifting sights from the rearview mirror to the horizon Letting go of the perfectionism mindset will liberate CFOs to focus on what matters
most. It builds the capacity to partner cross-functionally and shape
strategic priorities, giving finance leaders the well-founded influence to support the determination of the business's direction.

Businesses now need to recognize and empower finance teams as drivers of change, enabling more agile, responsive decision-making around investment and spend rather than confining finance to retrospective reporting. In doing so, theyll reposition finance from a number-crunching function to a catalyst for sustainable growth. We've featured the best expense tracker app. This article was produced as part of TechRadar Pro Perspectives , our channel to feature the best and brightest minds in the technology industry today.

The views expressed here are those of the author and are not necessarily those of TechRadarPro or Future plc. If you are interested in contributing find out more here: https://www.techradar.com/pro/perspectives-how-to-submit



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