How finance leaders are redefining their approach to value

Traditionally, Chief Financial Officers (CFOs) have been seen as guardians of profitability and cash flow – metrics central to shareholder interests. But as economic, environmental and social dynamics evolve, so too does the concept of value.

Today, finance leaders are being called upon to steer strategy more broadly, balancing financial performance with sustainable impact, stakeholder trust, and long-term resilience.
 

How is the CFO role evolving? Take a look at research from BDO and the ACCA, featuring insights from nearly 100 finance leaders worldwide. Download the report

The expanding responsibilities of the modern CFO

The CFO has always been central to profitability and capital efficiency. But that remit is expanding.

According to our research, conducted in partnership with the Association of Chartered Certified Accountants (ACCA), finance leaders are now expected to interpret a wider range of data points and insights that go beyond traditional financial metrics, such as environmental impact, social responsibility and governance (ESG).
 

"For today’s CFOs, creating value isn’t just about financial performance. It’s about driving long-term, sustainable impact. Their role is increasingly tied to helping organisations meet strategic goals that balance economic growth with environmental and social responsibility."
Ian McBane, Partner, BDO UK

This broader view of value requires a shift in perspective, from reporting on the past to asking forward-looking questions:

• What are we doing with the resources we have?
• How are we impacting the communities we serve?
• Are we delivering on our mission – not just our margins?

 

As expectations shift, many CFOs are finding themselves in a more strategic role – moving beyond measuring past performance, to shaping what value will look like in the future.
 

Should the CFO role evolve into ‘Chief Value Officer’? As the CFO’s remit continues to expand, there’s growing debate over whether the title should evolve too. Some argue that the shift in focus – from financial oversight to broader value creation – calls for a new role altogether: the Chief Value Officer (CVO). Insights from BDO and the ACCA’s research suggest that many CFOs already see themselves fulfilling this expanded role. Whether labelled CFO or CVO, finance leaders must step up to lead on value – or risk being left behind. Read more: The CFO evolution: from finance leader to Chief Value Officer

What does value creation look like today?

Modern value creation goes far beyond the bottom line. While profitability remains essential, investors and other stakeholders are placing increasing emphasis on how organisations contribute to long-term, sustainable outcomes.

For CFOs, this means navigating a wider stakeholder landscape – where each group, from investors to customers to regulators, brings its own definition of what value truly means.


 

As the concept of value continues to evolve, the focus is shifting towards how quickly and effectively businesses can assess and respond to new, real-time data about their performance and impact.

For CFOs, this means rethinking how value is measured, communicated and delivered. It’s no longer enough to report on historical performance – finance leaders must enable proactive decision-making that balances financial results with a much wider range of business success metrics. In this way, value creation becomes a strategic framework for long-term resilience and growth.

Read more: The role of data in helping CFOs deliver business value
 

The modern CFOs approach to value

In response to this evolution, CFOs are adapting how they lead, operate and collaborate. We’re seeing a shift in both mindset and capability, as finance functions:

• Leverage automation and predictive analytics to process data quickly and drive decision-making
• Build advisory networks, both internally and externally, to help shape a broader view of business performance and challenge the status quo
• Embed real-time, data-driven insights into strategic decision-making processes across the organisation
• Create more agile, scalable operating models, combining in-house expertise with support from external partners

 

This shift is more than operational – it’s cultural. CFOs are now being seen as champions of long-term resilience, stakeholder trust, and purpose-led growth, who are helping their organisations to build both performance and credibility in the long term.
 

"Our whole business model is based on helping people lead healthier lives. This means we don"t just focus on risk and pricing but on actively improving the health and well-being of our customers.

"The financial impact is significant. Healthier members claim less on their insurance policies, which lowers our overall costs as an insurer. But instead of just keeping those savings, we reinvest them into incentives – rewarding people for making healthier choices. This creates a positive feedback loop, where people are motivated to stay active and improve their health, leading to even lower claims, greater engagement, and long-term business sustainability. It’s not just good for our bottom line. It’s good for our customers and for society as a whole.”
Justin Skinner, Group CFO, Vitality

Read more: CFO skillset: the most important skills for today's finance leaders
 

How can we help?

At BDO, we work alongside finance leaders to develop agile, data-driven strategies and build resilient finance functions that drive long-term value.

Partner with us to help shape your finance function of the future.

Contact us for more information

Chief Value Officer: The Important Evolution of the CFO copyright © 2023 by the Association of Chartered Certified Accountants (ACCA). All rights reserved. Used with permission of ACCA. Contact insights@accaglobal.com for permission to reproduce, store or transmit, or to make other similar uses of this document.