The role of today’s CFO looks very different than it did a decade ago. Finance leaders have moved beyond number crunching to help set strategy and guide organizational growth. Now, the rise of generative AI (GenAI) is taking that transformation to the next level.
Finance teams already use data to drive decisions, improve operations and plan for what’s ahead. But the pace of change demands tools that can process more information, test more scenarios and look further into the future.
CFOs are also focused on improving communication across departments and with their boards. They want technology that keeps everyone aligned and positions finance as the hub of business insight.
With so many new AI and analytics tools available, CFOs are learning which solutions truly deliver value — and which don’t.
Here’s how AI is reshaping the finance function and where CFOs are focusing their efforts to make the most of it.
CEOs and corporate boards lean heavily on advice from their CFOs when making big decisions.
Finance leaders are accustomed to supporting these choices. But making them quickly enough to keep pace with external factors related to government policy, such as a shifting tariff regime, proposed tax code changes, signs of resurgent inflation and emerging regulatory frameworks around critical data technologies. Data shows that’s where CFOs are shouting from the rooftops for help.
Scenario planning systems driven by AI and integrated with ERP suites provide the rapid evaluation of conditions that leaders rely on. ERP systems form the hub of business data, and when ecommerce, CRM, project management, inventory and supply chain systems are integrated, AI-driven scenario planning is easy to use. Scenario models developed by AI can consider many more variables than traditional planning would allow, producing more nuanced analysis in seconds.
The ability to peer beyond the next fiscal quarter or year gives financial leaders a significant and highly coveted edge. But many CFOs are finding that current economic realities are fogging up their crystal balls. Basic financial forecasting extrapolates future results based on historical data, current trends and market analysis.
In the current business environment, that approach alone isn’t instilling a lot of confidence. Finance leaders realize they need forecasts that continually update and models that assess the impact of unpredictable external forces. And they understand that planning and budgeting tools, many powered by AI, can get them both.
Many financial planners have already implemented rolling forecasts, scenario analysis and planning strategies that allow them to lean on their experience and intuition to anticipate events beyond their control, such as interest rate fluctuations and trade shocks, and then evaluate impact on revenue, expenses and overall financial performance. Those sophisticated forecasting methods demand a constant flow of high-quality data to reliably predict outcomes when performance figures suddenly shift and new scenarios need to be modeled. The data is best supplied by a system that centralizes sales, fulfillment and finance operations, and intelligently surfaces the right information.
The accuracy with which financial leaders can predict the outcomes of destabilizing shifts in market conditions determines how effectively they can strike a balance between caution and ambition. In that sense, scenario planning is not only essential to mitigating risk but also for prioritizing capital investments.
For CFOs accustomed to selecting and procuring their departments’ finance applications, digital transformation and AI initiatives change the calculation. The best approach to selecting advanced systems for finance and other interconnected departments is collaborative and in partnership with IT leaders.
Using cutting-edge digital tools to analyze data, forecast various outcomes and gain meaningful business insights was never easy. But deciding what technologies to adopt to achieve those goals — especially with the new AI-infused solutions on the market — poses a different sort of challenge. Point products might serve a specialized function very well, but if they’re unable to easily integrate with the core suite, they can limit an organization’s capacity for effective data analysis.
Finance and IT leaders who work together to choose a system with a single data source achieve better, more democratized analytics and greater bang for their buck.
CFOs bring a clear vision of the capabilities their teams need and how the latest tools might help craft and execute financial strategies. That contributes to a short list of platforms that can integrate with one another and existing systems and help identify the short- and long-term investments that will best realize operational goals.
So, no surprise, CFOs are dedicating much of their focus to digital transformation projects.
The ability to make and implement quick decisions to meet shifting market dynamics means CFOs must consistently communicate with their teams and across all departments.
It’s important to prioritize maintaining open lines of communication with other department chiefs to constructively share ideas is crucial. Scheduling regular cross-functional meetings where leaders from different departments can align forecasts with operational realities, and elevating and incorporating diverse perspectives and a wide range of professional expertise would accomplish this goal.
CFOs can be stewards of these conversations, as finance is the connective tissue that unifies all other operations across the enterprise.
A surge of new data technologies is transforming finance, offering capabilities that didn’t exist just a few years ago. As a result, many CFOs are now working closely with their tech teams to evaluate which financial management tools truly meet their needs.
AI is leading the charge. From machine learning to generative and agentic AI, the technology now powers a wide range of finance use cases. Machine learning–based forecasting models, once groundbreaking, now process massive datasets and uncover deeper patterns to improve predictive accuracy.
Generative AI is capturing even more attention. Large language models (LLMs) can understand questions, reason through complex data and respond in plain language. Using methods like Model Context Protocol (MCP) and retrieval-augmented generation (RAG), they can securely pull insights from enterprise data to deliver more relevant answers.
When embedded in systems such as CRMs, these tools surface metrics, visualize trends and summarize large datasets in seconds. They also power real-time translation and document analysis, helping finance teams quickly extract key information from reports, audits or contracts.
AI agents take automation even further by handling repetitive tasks, improving accuracy and freeing teams to focus on strategy. Supported by connectors like MCP, they integrate securely across systems to deliver faster, better-informed decisions.
Ultimately, AI’s ability to reveal hidden patterns in massive datasets is a game changer. It helps CFOs anticipate risks, evaluate opportunities and lead with confidence — even in uncertain markets.
Today’s CFOs are more than financial stewards. They’re data-driven strategists who use advanced planning and forecasting tools to anticipate risk, model market shifts and guide their organizations through uncertainty. They rely on technology to help manage everything from inflation and supply chain changes to private equity decisions and debt management.
Still, most finance leaders are pragmatic. They want clear, measurable results and technology that supports sound, informed decision-making.
To meet those needs, NetSuite provides a unified system that gives CFOs real-time visibility into financial performance and tighter control over their operations. Its built-in AI features automate routine processes, surface insights faster and simplify forecasting and analysis — all within the same platform that runs core business functions.
With regular updates and continuous innovation, NetSuite helps finance leaders stay ahead of emerging challenges without the disruption or cost of managing multiple disconnected tools. The result is a finance function that’s more agile, efficient and equipped to make confident decisions in a rapidly changing business landscape.
If you want to learn more about strengthening your finance department through AI and NetSuite, contact us here or call 410.685.5512.