CFOs prioritise data access as overwork undermines decisions
A recent survey has found that 99% of Chief Financial Officers (CFOs) and senior finance leaders in the UK and Ireland are working evenings or weekends, with almost two-thirds reporting this is the case often or always.
The research, detailed in the CFO Mindset Report from AccountsIQ, surveyed 1,000 CFOs and senior finance professionals. It highlights mounting challenges faced within the finance function, including growing workloads, limited access to accurate data, and the need to deliver timely business insights.
Work-life balance
According to the findings, 64% of respondents regularly work extended hours. The report suggests this increased demand is directly related to the requirement for faster and more accurate reporting, despite ongoing difficulties in accessing timely data.
Concerns regarding data access have overtaken other risk factors such as inflation and cybersecurity in the views of finance leaders. Timely access to data has become the leading concern for 25% of CFOs surveyed. This priority is now ahead of concerns about inflation and rising costs (25%) and cybersecurity threats (24%).
These figures mark a shift from the Mindset Report's previous edition in 2024, when 40% of CFOs ranked inflation as their top concern, and 36% cited cybersecurity. Now, the proportion focused on data access has increased by five percentage points, while anxiety about inflation and cybersecurity has declined. This adjustment in priorities signals a move away from external risks towards internal, operational challenges within finance teams.
Data-driven decisions
The survey finds a substantial impact on decision-making among CFOs as a result of data constraints. Financial decisions are frequently made without sufficient information: 65% of those polled acknowledge making key decisions without enough data, and for 29%, this occurs often or always.
Looking toward the future, CFOs expect the most significant changes in their industry to be driven by technology and external regulation. By 2030, respondents identified artificial intelligence (AI) and automation (26%), regulatory changes (25%), and global economic shifts (25%) as the top expected disruptors. Nonetheless, technology adoption brings additional concerns for finance leaders. The most commonly cited risks related to AI in the finance sector are ethical decision-making (27%), data security (22%), and a lack of human oversight (21%).
Automation prospects
Finance teams are under intense pressure to deliver accurate insights faster, often without the right tools or timely data. Our research shows that this is leading to overwork and poor-quality decision-making. Intelligent automation offers a real opportunity to change that, enabling CFOs to make better decisions based on live data and freeing up time for strategic thinking. A healthier work-life balance is achievable when finance functions are truly data-driven.
With year-end fast approaching for many finance teams, the report argues that implementing smarter systems and improving data connectivity is important not only for operational efficiency but also for the wellbeing and sustainability of finance professionals.
The findings add to the ongoing debate about the demands placed on CFOs and their teams. While advances in automation, AI, and cloud-based accounting are seen as critical to addressing workloads and data challenges, the report makes clear that uptake is taking place in the context of sustained overwork and persistent operational risks.
