How can CFOs build a “future-ready” finance organization? Patrick Villanova has some ideas, and they start by letting go of anxiety.
“There has never been a point in history when there hasn’t been some level of macro headwinds, geopolitical instability or disruptive forces exogenous to a company,” he tells CFO Leadership. “While enterprise leaders have to anticipate for these matters, they also have to realize that they ultimately have no influence or control over them.”
Villanova was promoted to CFO of Los Angeles-based Blackline earlier this year, after longtime CFO Mark Partin retired. Previously Villanova served as chief accounting officer for the software company. He spoke with CFO Leadership about how to plan, what matters most and the changing role of the finance chief.
As you’ve moved into the CFO role, what have been your key priorities for the company’s next phase of growth? What initiatives are you spearheading to ensure financial resilience and operational excellence, and what lessons can other CFOs take from your approach?
My number one priority is to ensure that capital and resources are allocated in the most efficient manner possible in order to promote growth. This requires a close partnership with other leaders within the organization to understand their initiatives and the anticipated benefit to the company.
Our finance leaders help facilitate ROI analyses of all of these initiatives to ensure proper prioritization and drive alignment with the overall leadership team. In order to achieve this, we are synthesizing even more data in order to derive strategic insights for our leaders.
There is a proliferation of data in the corporate world and the most effective CFO functions are able to efficiently convert that data into information that can be used in the decision-making process.
How do you see the role of the CFO evolving?
As finance automation and AI-driven processes become more prevalent, the role of the CFO is evolving from financial steward to strategic leader. Traditionally, CFOs focused on reporting, budgeting, investor relations and compliance, but today, they must leverage AI and automation to drive business growth, agility and resilience.
AI is transforming how CFOs approach decision-making. With AI-powered analytics, finance leaders can identify trends, anticipate risks and optimize capital allocation with greater accuracy. Rather than relying on historical data alone, AI enables predictive insights, giving CFOs a clearer picture of future financial performance.
The CFO’s role is no longer just about reporting financial results and forecasting—it’s about shaping the future of the business.
Given today’s economic climate, how should CFOs approach financial planning and risk management? Can you share insights on how you have adapted your enterprise’s financial strategy in response to market volatility and what other finance leaders can learn from your experience?
There has never been a point in history when there hasn’t been some level of macro headwinds, geopolitical instability or disruptive forces exogenous to a company. While enterprise leaders have to anticipate for these matters, they also have to realize that they ultimately have no influence or control over them.
Thus, my advice is to build a plan for the year to drive growth and expand margins, and factor into that plan potential contingency if there are negative events outside the company that are beyond enterprises’ control. Some leaders try to guess or anticipate these disruptions, but it is important to have a plan of action ready to launch when they occur.
In other words, plan and focus on what is within your control, stay on your plan, execute, continue to deliver a high-quality product, remain fiscally disciplined, and you will emerge from that market volatility stronger than you entered.
What key capabilities should finance leaders develop to build a future-ready finance organization? How can CFOs ensure their teams are equipped to drive strategic decision-making in an increasingly digital and data-driven environment?
To build a future-ready finance organization, CFOs need to prioritize three key areas: automation, real-time insights and cross-functional collaboration.
First, automation is no longer optional—it’s essential. Too many finance teams still rely on manual processes that drain productivity and introduce risk. By including AI-powered automation into financial operations, we free up our teams to focus on strategic, high-value work.
I’ve seen firsthand how organizations that embrace automation in financial close, reconciliations and accounting workflows not only improve efficiency but also strengthen compliance and accuracy. It also allows the members of that team to spend more time analyzing results to provide insights, rather than just processing results.
Real-time data and analytics are also critical for informed decision-making. Our recent research found that nearly 40 percent of CFOs don’t completely trust their financial data, often because they’re working with outdated or error-prone numbers. By implementing centralized, AI-driven platforms, finance teams gain a single source of truth—ensuring they have the right data at the right time to drive smarter business decisions.
Then there is the strategy of cross-functional collaboration. CFOs can no longer operate in silos. We must work alongside CIOs, COOs and other leaders to create a connected, data-centric enterprise. By aligning finance with IT, for example, we can treat data as an enterprise asset and integrate it seamlessly across the business.
