Software CFOs Help Their Companies Grow at the Speed of AI

Once upon a time, chief financial officers were the suit-and-tie number crunchers keeping the books tidy and making sure the lights stayed on.

In the era of artificial intelligence and digital transformation, however, the CFO is no longer just a steward of capital; they are architects of the future.

“AI is one of the most exciting technologies we’ve seen in quite some time,” Brandon Nussey, CFO at Coveo, told PYMNTS during a discussion for the executive series “A Day in the Life of a CFO.” “Whether it’s unlocking new revenue streams or driving internal efficiencies, CFOs are in a unique position to help businesses make the right decisions about how to leverage it.”

The technological shift happening across the business landscape is more than just a philosophical evolution; it’s a fundamental transformation in how companies compete and operate. As AI and digital transformation advance, the finance chiefs who embrace change aren’t just keeping their companies afloat but also building the future.

“I do think the role of the CFO is increasingly acknowledged as having a bigger seat at the strategic table,” Nussey said. “It’s become old-school thinking that CFOs are just number counters. There’s no other position where you get the purview you have as a CFO. You see the whole business. You know what’s working, what’s not, what’s tracking well, and what’s not.”

The result? The finance function, once viewed as risk-averse and cost-focused, is now finding its footing as a department pivotal in shaping corporate growth, resilience and competitive advantage.

As businesses navigate a changing macroeconomic landscape — marked by inflationary pressures, geopolitical risks and shifting regulatory frameworks — CFOs are becoming the linchpins of strategic decision making.

For Nussey, efficiency is about using the right technology to reduce back-office overhead and enhance insights. Finance departments once expended considerable effort producing retrospective reports, but now, modern AI-driven tools can provide real-time insights, enabling teams to make informed decisions instantaneously.

“Whereas before we had to generate reports and mail them out, there’s a lot more we can be doing now to enable the business to self-serve in that respect,” he said, adding businesses need to understand how digital investments translate into revenue opportunities, not just cost savings.

“No one on the Coveo finance team thinks of themselves as scorekeepers,” Nussey said. “They think of themselves as business enablers. Everyone in the company now understands key metrics like LTV-to-CAC ratios. That used to be finance jargon, but now, the R&D leader understands it, the sales leader understands it. The tools we have today drive consistency and alignment across the organization.”

This cultural transformation aligns business units with financial objectives, fostering a data-driven approach to decision making at all levels.

By overseeing financial performance across departments, CFOs have a unique vantage point to identify bottlenecks, align incentives and ensure that digital transformation efforts translate into measurable business impact. In this sense, finance is no longer a reactive function but a proactive enabler of business success.

“The job of a CFO falls into several categories,” Nussey said. “One, of course, is to make sure that we’re running our part of the business efficiently. The more money we put into sales and marketing and innovation, the better.”

Beyond finance, CFOs are increasingly involved in high-level corporate strategy. Economic volatility, inflationary pressures and geopolitical risks have heightened the need for financial leaders to play an active role in navigating uncertainty.

“A lot of companies are wrestling with the direction of foreign currencies and the strengthening U.S. dollar,” Nussey said. “Should we be hedging or not? These are decisions that require careful strategy.”

“The business has become more open and appreciative when finance leaders come with meaningful insights — not just reporting on what happened but helping to contribute to what’s around the corner,” he added.

One advancement Coveo’s own finance team is enthusiastic about?

“We’re excited about AI tools around pipeline conversion — what you’re seeing from certain channels in marketing and how that’s converting into real opportunities that your sales team gets to work,” Nussey said.

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