The ongoing fear and uncertainty over a potential recession and international trade disruptions have CFOs under increasing pressure to reduce costs and manage risk while driving strategic value across the organization.
During such turmoil, Krishnan Raghunathan, head of finance and accounting Services at BPO firm WNS, believes applying AI tools can deliver better outcomes faster and at a lower cost and release significant bandwidth for finance leaders. They may need that time in the coming months, as hard strategic decisions like pausing major projects or altering a company’s go-to-market and product mix land on their desks.
Those decisions, of course, will require the buy-in of peers and colleagues. In the following interview, Raghunathan explains why personal connections with colleagues and teams are a driving force when a CFO is trying to champion change. In addition, he shares his thoughts on how CFOs can avoid obsolescence by staying passionate about learning and why young finance executives often switch companies for the wrong reasons.
In a volatile economy, CFOs are tempted to reduce investment. How do you approach balancing short-term financial targets with long-term strategic initiatives?
The best way to balance the two is to find ways to integrate them! I always first identify opportunities where achieving short-term financial goals can also help fund investments needed for long-term strategic growth. For instance, I began investing in AI-based financial analytics tools and teams over a decade ago. That early start allowed me to build these capabilities on a self-funded basis.
In the short term, they helped me meet contractual commitments and drive efficiencies while continuing to lay the foundation for long-term strategic growth. I did not need to worry about dramatic one-time investments when market needs became more prevalent.
That said, not everything can be self-funded. For example, opening new [service] centers in another country demands upfront investment. That’s why we proactively plan for such investments and needs, including teething problems, within our budgets.
Still, I will always prioritize the latter if a real conflict arises between short-term gains and strategic long-term goals. I believe in being transparent with stakeholders about any short-term impact if it enables us to move faster in the long term. In most cases, we can minimize that impact with minor, temporary adjustments, like applying greater prudence to discretionary spending.
What is one career lesson you learned the hard way—and how has it shaped your leadership style?
Most people believe that effective communication is the foundation of networking, which is true. However, I learned—especially as a leader—that the opposite is equally essential: networking [fosters] effective communication.
I always prided myself on championing change and pushing transformation. But I was often frustrated when my peers or teams didn’t adopt those changes, despite my hard work. Over time, I realized the issue wasn’t the idea but trust. I hadn’t connected with them deeply enough.
Human beings trust more when they know one another better. I wasn’t the type to “work the phone” or engage in casual corridor conversations. But once I started doing that—trying to engage more personally—I gained insight into what my colleagues honestly expected from me. And they, in turn, became more open to the changes I advocated. In short, when I networked, we heard each other.
That’s when real communication began.
What advice would you give to young professionals entering the finance field as the role continues to evolve?
You can’t afford to be AI-illiterate, nor can you afford not to be an expert in at least one domain. Think of data science and technology enablers as essential tools, like language. You don’t learn English to be a better finance professional, but you still need to know it.
Similarly, while many generalist roles are more susceptible to automation, specialists will continue to lead. So, go a mile deep in one area while staying an inch deep and a mile wide across others.
Evolution won’t wait for you; the world will continue evolving whether you’re ready. As I always say, change isn’t just inevitable, it’s accelerating. If we don’t grow fast enough, we risk becoming obsolete. So, stay passionate about learning, be curious about new technologies and never become overconfident. That’s the key to survival—and yes, I said survive, not thrive.
Lastly, hindsight is 20/20, and everyone makes mistakes. The biggest one is failing to learn from mistakes. It’s easy to blame external factors when things don’t go your way, but introspection often reveals what YOU can change. Keep doing that.
What about as a CFO’s career progress? How should they think about job opportunities that arise and personal goals along the way?
View your career in three phases: first, identify your core strength. Second, go deep and become a true subject-matter expert. Third, focus on leaving a legacy.
You’ll notice none of this has to do with money or titles. I see too many young professionals making career choices based on the wrong reasons, only to regret them later. If you need to make a fundamental shift, do it early. But once you commit, pursue mastery and build your brand as an SME.
And yes, though I may sound like my namesake, I care about rewards. If you follow the right path, rewards will follow naturally.
