By Douglas Wilson
The worldwide CFO software market has expanded significantly over the last few years and is set to grow even further before the end of the decade. As of 2025, global investment bank Houlihan Lokey estimates this sector is worth nearly £43 billion. By 2028, this is expected to exceed £100 billion.
In line with this impending boom, the CFO Dive 2025 report found that the number of vendors providing these types of software is steadily increasing. Of the 300 active CFO software vendors, almost 100 only entered the market in the last five years. These numbers underscore how dynamic the current CFO software industry is and how it’s poised to grow from here.
Why is CFO-centric software in demand?
The primary reason behind the surge in CFO software is rapid digitalisation. In 2024, accounting firm KPMG found that eight of ten companies struggled to keep up with the continuous technological advancements, which left older systems obsolete. In finance departments, this makes it harder to observe the latest compliance and procedural regulations that rely on new tech.
Another reason fuelling the need for these solutions is the growing workloads for CFOs. In CFO.com’s 2024 survey of global finance leaders, 82% admitted their responsibilities increased in the last five years. Nowadays, respondents lead work in areas they previously had little to do with, such as environmental, social, and governance (ESG). This is despite around 62% of respondents expressing they don’t think ESG initiatives should be their responsibility.
With this in mind, CFO-focused software is fast becoming a saving grace for many executives. Since these are specially designed to streamline and even automate specific processes, they effectively reduce CFO burdens, maintain productivity, and bridge skill or digital literacy gaps.
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What are some of the most well-received CFO software programs today?
Leadership advisor Egon Zehnder has found that CFOs now have more on their plate than ever before, including 12 new responsibilities over common business pain points. Here are some ways popular CFO software addresses these:
Risk management
Up to 36% of CFOs say risk management accounts for many new tasks. With growing economic and business instability, companies today must be prepared for sudden pitfalls that can severely impact their finances. Unfortunately, financial risk management is notoriously complex, given that every organisation needs to account for a unique set of circumstances.
Global information and software services company Wolters Kluwer notes that challenges associated with this endeavour include ineffective existing applications, more intrusive data regulations, and a heightened need for granularity to meet regulatory demands. Because these can be difficult to meet with traditional initiatives, Wolters Kluwer has developed an end-to-end risk management solution. The OneSumX for Risk Management can create a holistic, enterprise-wide risk portfolio for better risk monitoring, mitigation, and management.
Deployable as a cloud-based or on-premises solution, this software-as-a-service (SaaS) offering can work in agreement with the latest regulations within the banking industry. Running the OneSumX SaaS can also result in lower costs, faster outputs, and reduced risk of non-compliance, thanks to its secure hosting and reliable support services. These features ease the pressure on clients, especially those who want to scale up but struggle with their legacy systems. Overall, this tech equips CFOs with a clear understanding of potential vulnerabilities, how to avoid them, when risks are worth taking, and how to prevent unsalvageable errors.
Cybersecurity
A global poll by FTI Consulting earlier this year determined cybersecurity as one of the top three priorities of North America, APAC, and EMEA CFOs. This is unlike previous years, where the culture was that other company decision-makers took the reins on security. However, today’s CFOs are more aware of how cyber risks create massive threats that can easily impact their department.
CrossCountry Consulting’s cybersecurity lead Cameron Over states that cyberattacks should matter to contemporary CFOs because they usually cost millions, not to mention how CFOs handle much of an organisation’s most valuable information. Finance departments are prime targets for hackers looking to exploit data, such as budgets, investment plans, and pre-public financial results. As a result, more CFOs are looking into solutions such as threat detection systems and frequent security audits.
Cybersecurity software firm Proofpoint is a service provider offering solutions with financial threats in mind. Their most successful products concentrate on eliminating internal human errors that can lead to vulnerabilities, such as security awareness training and insider threat management services. Following the widespread proliferation of remote work setups, Proofpoint reported an uptick in interest in their software, which has become even more valuable as employees are more at risk of accidentally creating exploitable weaknesses.
Payroll processing
Although it’s a foundational aspect of any business, payroll management continues to be a concern for many organisations. A Ceridian survey reported that around 85% of companies struggle with payroll technologies. Consequently, Alight’s Global Payroll Complexity Index notes that 53% of companies have even faced penalties due to payroll compliance issues. With these hurdles in mind, global CFOs now include HR concerns as part of their purview.
One of the most efficient ways to address payroll planning and execution is through AI-backed technologies, which speed up payment processing, highlight real-time discrepancies, and abide by payment and employee labour legalities. Aberdeen-headquartered payroll processing firm Activpayroll recently welcomed new leadership in preparation for more cross-regional expansion. By using independent learning AI, Activpayroll’s solutions secure proper payroll protocols, no matter the size of an organisation or what regulations may be rolled out. As such, they can aid HR teams in securing time tracking and tax compliance that aligns with the latest legislation and procedures in compensation.
What long-lasting impact do these solutions offer?
Besides relieving the immediate load off CFOs, the growth among related software vendors poses future benefits. For CFOs, introducing these highly assistive innovations may help reduce the burnout and exhaustion many in this role feel. Due to mounting pressures, CFOs in many major regions, including the UK and the US, are seeing the highest turnover rates within six years. On average, CFO tenures currently max out at only five to six years, according to data reported by The Times.
Software innovations can help because they enhance collaboration and improve work-life balance thanks to their efficiency. Companies that onboard these technologies sooner can more easily integrate them into their processes, leaving a well-oiled machine that future CFOs and finance teams can seamlessly step into.
