Posted by Mary Milorrie Campos
Mar 23, 2026
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Australian CFOs are under pressure to modernise finance. A defined transformation roadmap provides the structure they need to manage technology, governance, and performance with discipline.
What’s happening now?
Recent findings from Deloitte’s Finance Trends 2026 report show that while many finance teams are already piloting or deploying AI in some form, many organisations still struggle to demonstrate clear return on investment.
But putting digitalisation apart is not an option. As we explained in this article, it’s either you act upon it or risk falling behind.
To keep up, CFOs must stay informed of the trends related to finance transformation, such as the ones listed below.
1. AI is becoming core to finance and operations
AI is no longer limited to pilot programs or isolated use cases.
In a recent McKinsey survey, 44% of 102 CFOs have used gen AI in more than five use cases in 2025, up seven percentage points from 2024.
This growth is synonymous with investment in AI tools.
In 2023, roughly 25% of respondents increased their gen AI investment, the same McKinsey survey revealed. Two years after, in 2025, these figures have climbed to 65%.
These findings aren’t confined to a single study.
A separate report from Thomson Reuters showed a rise in gen AI use in tax research, tax return preparation, tax advisory, document summarization, document management, question answering service, and risk assessment. Interestingly, use cases dropped in the following areas: accounting/bookkeeping, compliance, filling out financial statements, and business development.
Looking at the bigger picture, we can see a consistent increase in gen AI use. But if we’ll look at the details, we can notice a fluctuating growth in different areas, which may indicate that organisations are still determining where generative AI fits best within their operations.
2. Finance is expanding its enterprise role
CFOs are expanding their role to include capital allocation, strategy, risk oversight, and operational execution. These responsibilities have grown as businesses deal with economic uncertainty, pressure on margins, more complex regulations, rising operating costs, and the need for better data to guide decisions.
Read Next: How Automation and Digitalization will Affect CFO Roles
As finance leaders take a more strategic role, their teams are becoming more integrated into commercial and operational decision-making.
This shift shows a broader change in how finance supports business growth.
Finance teams are now expected to provide insights, support strategic planning, and help secure the resources needed for expansion. Their analysis and data-driven insights help leaders make better decisions and plan for the long-term, strengthening finance’s role as a key partner in improving organizational performance.
3. Digital expectations are reshaping business models
Customer behaviour continues to shift toward digital-first engagement. Mobile banking, real-time payments, embedded finance, and seamless omnichannel retail experiences are becoming standard expectations. Fintech firms and digital-native providers have also raised benchmarks for speed, convenience, and transparency.
For CFOs, this trend changes how performance must be measured.
Revenue and cost structures are increasingly tied to digital platforms, subscription models, and embedded services. Finance leaders must assess profitability at channel level and understand cost-to-serve in digital ecosystems. At the same time, investment decisions must account for platform scalability, cybersecurity exposure, and long-term customer retention value.
4. Growth depends on strong governance, clear regulations, and trusted systems
Regulatory frameworks across Australia are expanding in scope, covering financial accountability, AI usage, sustainability reporting, consumer protection, and data security.
(Note: The Australian Government, through its Department of Finance website, released a National Framework for the Assurance of Artificial Intelligence in Government on 21 June 2024. To read the entire document, you may visit AU's finance website.)
Compliance obligations are becoming more detailed and enforcement more visible. At the same time, customer trust remains sensitive to fraud incidents, data misuse, and governance failures.
Governance is no longer an optional responsibility for CFOs. It directly influences reputation, investor confidence, and growth capacity. AI deployment, digital expansion, and cost restructuring must operate within clear accountability structures. Sustainability disclosures must withstand audit scrutiny. Fraud prevention and cyber resilience require financial oversight.
To cut it short, trust now has financial implications. Strong governance enables expansion, while weak oversight limits strategic flexibility and increases exposure.
CFOs must find a way to scale it responsibly. Regardless of AI systems used, they must see to it that outputs are explainable, auditable, and aligned with compliance obligations. Finance chiefs must also identify key persons who will lead AI initiatives and own the entire process, including the measurement of its performance over time.
5. Operating models are evolving through data, cloud, and automation
Modern finance functions depend on integrated data environments and scalable cloud infrastructure.
Manual reconciliations, fragmented reporting systems, and delayed data flows can limit agility and reduce confidence in financial insights. Automation and cloud-based platforms help address these challenges through real-time visibility and faster close cycles.
However, technology alone is not enough. CFOs must ensure that data definitions are standardised and that system architecture supports transparency rather than complexity.
As finance functions modernize, operating models are shifting toward leaner structures where professionals spend less time on manual tasks and more time on analysis and advisory work. The result is greater efficiency and stronger decision support for the organization.
Finance transformation roadmap
The trends discussed above are changing the role of the CFO and challenging finance leaders to rethink how they respond to new expectations.
As organisations plan for 2026, finance leaders need a clear and practical path to strengthen resilience and modernise their finance functions.
To support this, we have developed a four-phase roadmap to help Australian CFOs strengthen financial resilience and modernise finance into a stronger enterprise partner.
Phase 1: Strengthen control and build the foundation
Australian CFOs should begin by reinforcing financial clarity and operational stability.
They should implement rolling forecasts instead of relying solely on annual budgets. They should formalise scenario modelling that tests revenue volatility, funding costs, margin pressure, and regulatory change. They should centralise liquidity oversight to improve visibility across business units.
At the same time, CFOs should establish clear AI governance standards. They should define approval processes for AI use cases, document accountability under regulatory regimes, and assess data quality before deploying AI in forecasting or reporting. AI should scale only after data integrity and governance are secure.
They should also review core finance systems and reduce manual dependencies. Cloud-based platforms and integrated reporting structures should replace fragmented legacy systems where feasible. A single, reliable data source should support executive decision-making.
This phase ensures that future transformation rests on stable financial, data, and governance foundations.
Phase 2: Expand finance’s strategic influence
Once foundations are secure, Australian CFOs should deepen finance’s role in enterprise strategy.
They should embed finance business partners within commercial, product, and transformation teams. They should implement profitability analysis at product, segment, and channel level. Capital allocation decisions should be guided by long-term value creation rather than short-term revenue targets.
CFOs should also move from reactive cost reduction to structured cost intelligence. They should assign cost ownership at executive level, introduce cost transparency dashboards, and link spending to strategic priorities. Cost discipline should support growth and resilience, not restrict it.
In addition, CFOs should integrate ESG and regulatory readiness into mainstream reporting. Sustainability metrics should sit alongside financial KPIs. Compliance processes should be embedded within finance operations rather than managed as isolated exercises.
This phase positions finance as an enterprise decision partner rather than a reporting function.
Read Next: Embracing AI Integration, The D&V Philippines Way
Phase 3: Scale automation and intelligent finance
With governance and strategy alignment in place, Australian CFOs should scale automation and analytics.
They should automate reconciliations, invoice processing, and compliance checks to reduce manual workload. They should deploy AI-supported forecasting tools where data maturity allows. They should measure time savings and redirect capacity toward analysis and advisory work.
CFOs should also invest in hybrid finance talent. They should upskill teams in data literacy and analytics tools. Recruitment strategies should prioritise professionals who combine finance expertise with technology fluency. Cross-functional collaboration between finance, IT, and risk should become standard practice.
They should also strengthen fraud oversight and cyber risk monitoring, ensuring real-time visibility into financial exposure. Trust and risk control must be treated as core financial responsibilities.
This phase increases efficiency while strengthening analytical capability.
Phase 4: Align finance with digital growth and trust
Finally, Australian CFOs should ensure finance actively supports digital expansion and customer-centric models.
They should analyse profitability by digital channel and embedded finance initiatives. Pricing and investment decisions should reflect cost-to-serve data and customer behaviour insights. Finance should play a central role in evaluating digital platform economics and real-time payment models.
CFOs should also treat trust as a measurable financial asset. They should strengthen transparency in reporting, reinforce executive accountability, and clearly communicate governance standards to stakeholders.
This final phase ensures that finance not only protects value but also contributes directly to growth and competitive positioning.
What’s next?
Following a finance transformation roadmap is not the end goal. It shifts the responsibility from implementation to sustained performance.
Once systems are modernised and governance frameworks are in place, Australian CFOs must focus on measurable outcomes. AI initiatives, automation programs, and cloud investments should be tracked against clear financial indicators such as cost efficiency, forecast accuracy, margin stability, and risk reduction. Technology must demonstrate business value.
Governance should also move from policy to practice. Oversight of AI, regulatory compliance, and data accountability must be embedded into reporting routines and board discussions. As regulatory expectations evolve, frameworks will require ongoing review.
CFOs should also anticipate continued skills shifts. Finance teams will need deeper capability in analytics, digital risk, and systems management. Upskilling and targeted hiring must remain active priorities.
Finally, scenario planning should become continuous. Market conditions, digital models, and regulatory settings will keep changing. Finance must be prepared to adjust quickly without losing control.
Transformation becomes sustainable when it strengthens decision-making, improves discipline, and supports enterprise strategy. The next step is ensuring those gains endure.
Back-office support for your finance department
Executing a finance transformation roadmap requires focus, time, and sustained leadership attention. Yet many CFOs are still managing day-to-day reporting cycles, compliance demands, reconciliations, and operational finance tasks.
To lead transformation effectively, finance leaders need capacity. Routine processes must run smoothly and accurately, without consuming strategic bandwidth.
This is where the right back-office support becomes critical.
D&V Philippines provides outsourced finance and accounting solutions for corporate CFOs in Australia. We have a dedicated accounting team who are well-versed in AU accounting and compliance. Plus, we’re supported by our internal IT specialists in using automation and AI tools to ensure the utmost data security and protection.
If you’re looking for a well-rounded and credible outsourced accounting provider, our experts are here to assist you.
You can also learn more about our services in our whitepaper, Outsourcing for CFOs: Premium Finance and Accounting Solutions for Modern Finance Executives.
