A CFO’s Guide to Tech Readiness: 5 Strategies to Mitigate Risk in New Software Investments

When it comes to implementing new technology, too many organizations fall into the trap of thinking it begins and ends with software. They assume that signing a contract, securing licenses, and rolling out the latest platform will automatically deliver transformation.

But finance leaders know that’s not how it works. True transformation requires more than a purchase order; it’s a strategic shift that reshapes how your people, processes, and systems work together.

That’s why technology readiness has become a defining priority for CFOs and finance executives. It’s no longer enough to greenlight investments in automation or analytics tools. Today, CFOs must ensure their organizations are not only equipped with the right software but also prepared to adopt it, sustain it, and maximize its long-term impact.

During Finance Innovation Week, UHY Managing Director Cindy Hannafey will host a webinar session titled “Beyond the Software: CFO Strategies for Tech Readiness.”

The session is designed to help CFOs and transformation teams look past the tools themselves and focus instead on the broader picture of readiness: the people, processes, and strategic alignment that make technology investments succeed.

1. Digital Literacy: Beyond Basic Fluency
   
   Digital literacy for a CFO means understanding the financial implications of technologies like AI and automation. It enables them to engage in meaningful dialogue with IT leaders and distinguish between transformative solutions and fleeting trends.
   
   This understanding allows them to ask insightful questions and confidently assess a technology's true potential for the business. A digitally literate CFO ensures that tech investments are both modern and strategically sound.
   

2. Strategic Vision: Connecting Technology to Business Goals
   
   Strategic vision empowers a CFO to view technology as a catalyst for achieving broad business objectives, not just departmental efficiency. They align every tech investment with long-term goals like market expansion or enhanced customer experience.
   
   This foresight allows them to translate technological potential into a compelling business case for the board and executive leadership. The CFO thereby ensures that technology serves as a strategic enabler of growth and profitability.
   

3. Data Management: Treating Data as a Strategic Asset
   
   Effective data management means treating the company’s data as a core strategic asset, with the CFO acting as its ultimate steward. This involves establishing robust governance to ensure all financial data is accurate, secure, and accessible.
   
   By championing the breakdown of data silos, the CFO creates a single source of truth that powers advanced analytics. This foundation is essential for transforming raw data into the predictive insights that drive intelligent decision-making.
   

4. Investment Evaluation: A Holistic Approach to ROI
   
   Investment evaluation requires a CFO to look beyond the initial price tag to assess a technology's Total Cost of Ownership. The analysis of Return on Investment (ROI) must also be holistic, balancing quantitative metrics like cost savings with qualitative benefits such as improved accuracy and better risk visibility.
   
   This comprehensive approach ensures that the organization selects solutions that are not only financially sound but also strategically aligned. It prevents shortsighted decisions and maximizes long-term value.
   

5. Risk Management & Compliance: Navigating a Complex Landscape
   
   A tech-ready CFO proactively identifies and mitigates risks associated with new technologies, including cybersecurity threats and data privacy compliance. They embed risk management directly into the technology evaluation process, rather than treating it as an afterthought.
   
   This involves anticipating challenges related to data security, regulatory changes, and vendor management. By doing so, the CFO ensures that innovation and growth are pursued without compromising the organization's security or integrity.
   

6. Change Management: The Human Element of Transformation
   
   Change management is the critical human element of any technology initiative, and the CFO must lead this charge. They are responsible for communicating the strategic vision behind the change, building enthusiasm, and guiding teams through the transition.
   
   This involves more than just training; it requires redesigning workflows and managing the cultural shift to ensure that new tools are effectively adopted. By championing the change, the CFO ensures high adoption rates and turns potential resistance into a force for transformation.

Technology is everywhere in modern finance. From ERP enhancements and financial close automation to planning platforms and data governance solutions, the options are vast and the pressure to modernize is constant.

Yet, despite billions of dollars spent annually on finance technology, too many organizations fail to see the promised return on investment.

Why? Because software alone doesn’t drive transformation, people do. Without organizational readiness, companies fall into familiar pitfalls:

•  Stalled rollouts: Projects get delayed because processes aren’t documented, data isn’t clean, or teams aren’t prepared.

• Frustrated employees: When end users aren’t trained or workflows are poorly aligned, adoption suffers.

• Low ROI: Without clear goals and cross-functional buy-in, expensive tools become underutilized.

• Change fatigue: If employees see technology as “just another system” rather than part of a bigger vision, enthusiasm dwindles.

Readiness is about creating alignment across the enterprise. It’s ensuring that finance, IT, operations, and leadership are all working from the same playbook. At the center of this alignment sits the CFO, who is responsible not only for safeguarding investments but also for balancing innovation with business continuity and long-term impact.

Traditionally, technology decisions may have been viewed as the CIO’s domain. But in today’s environment, CFOs are increasingly stepping into a central role. Why? Because technology impacts more than just operations, it directly affects financial performance, regulatory compliance, and organizational growth.

The modern CFO must:

•  Champion alignment: Ensuring new tools serve broader business goals, not just isolated departments.

• Measure ROI: Defining success metrics that go beyond cost savings to include efficiency, accuracy, and strategic insights.

• Manage risk: Anticipating challenges such as data security, compliance, and vendor management.

• Lead change management: Guiding teams through cultural shifts that accompany new systems.

In short, the CFO has become a bridge between innovation and execution.

If you’re a CFO, finance leader, or part of a transformation team, this session will help you reframe the way you approach technology projects. Instead of focusing narrowly on features and functionality, you’ll learn to take a holistic view—one that positions your organization for long-term success.

By attending, you’ll gain:

• A practical framework for assessing and improving readiness.

• Insight into common pitfalls and how to avoid them.

• Strategies for engaging your teams and building alignment across the enterprise.

• Confidence to lead transformation initiatives with clarity and purpose.

Technology investments are too important—and too expensive—to leave to chance. Success doesn’t come from software alone; it comes from readiness, leadership, and strategy. 

Join us for “Beyond the Software: CFO Strategies for Tech Readiness” during Finance Innovation Week. Reserve your spot today and take the first step toward transforming not just your finance systems, but the way your entire organization approaches technology.