5 Key Challenges CFOs will face in 2023

Key Challenges of CFOs

As CFOs navigate the ever-evolving financial landscape in 2023, it’s crucial to identify and address potential challenges ahead of time. From innovation to talent and acquisition, to cyber security and fraud risks, here are five key challenges SpendConsole has put together.

The Innovation Ally not the adversary

In today’s data-driven era, finance teams are often overwhelmed by tedious transactional tasks, spending countless hours collecting data and navigating complex systems. CFOs can change the narrative by leading finance to be the engine room for analytics, and key support for Boards to make strategic decisions

Lead fight against game of fraud

Fraud is an art, not just science or numbers. CFOs must eliminate blind spots and protect their organisation from supply chain risk and payments fraud.

Talent acquisition & retention

The right skills are essential for an organisation’s success, but staffing shortages and alignment to changing capabilities are hindering productivity. It’s important to broaden skills, including data skills, to improve efficiency and financial decision making.

The threat landscape has changed

CFOs find risk management challenging, particularly as their organisation grows. With remote workforces becoming a permanent fixture, CFOs must invest to lead managing cybersecurity risks at scale.

How AI will change your enterprise

Automation and technology lower costs, improve information timeliness and process efficiency, but also increase risk. Embedding controls in the automation process reduces fraud and errors. AI and blockchain are emerging and important technologies that have inbuilt controls that reduce risk.

Discover how SpendConsole can help CFOs lead this transformation.


Abid Ali is the founding CEO of SpendConsole, with 20 years eProcurement experience. This has led him to pioneer breakthrough AI-powered innovations tackling the toughest e-procurement problems. As a thought leader in Accounts Payables Transformation, he is a regular speaker.

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5 Key Challenges CFOs will face in 2023
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