Finance leaders, particularly those in the tech industry, need to help their C-Suite make decisions that are grounded in objective metrics—not instincts or hype.
That’s just one of the insights from Marc Suidan, CFO of San Mateo, California-based cloud storage company Backblaze, in a conversation with CFO Leadership about finance leaders’ changing roles.
Suidan’s theme: From choosing tech to playing a role in product development to your first steps as a public company executive, finance leaders need to keep their eyes on broader organizational goals, even during economically volatile periods.
Financial planning today needs to be “a dynamic, strategic dialogue, closely linked with product development and operational execution,” says Suidan. “This means going beyond traditional budgeting to become a key partner in evaluating innovation investments and outcomes.”
What do you see as the CFO’s most strategic responsibility, particularly in the tech industry—and how has that evolved in recent years?
The CFO’s strategic responsibility has evolved dramatically, especially in a fast-paced tech environment. Traditionally, CFOs focused primarily on accounting accuracy, compliance and reporting. Today, the role demands a much broader, integrated skill set that blends financial rigor, capital markets fluency and operational insight. The most strategic CFOs act as the company’s chief truth-tellers, leveraging data and analysis to provide clarity and perspective amid complexity.
In recent years, the tech sector’s shift from hyper-growth to sustainable profitability has heightened the CFO’s role in capital allocation and financial storytelling. CFOs must help leadership teams make decisions grounded in objective metrics—not instincts or hype. This means deeply understanding unit economics, cost structures and long-term value drivers, while also communicating transparently with investors about growth prospects and risks.
Moreover, CFOs today are increasingly embedded in strategic conversations that shape product development, go-to-market execution and operational efficiency. They act as stewards of capital and trusted advisors, balancing near-term discipline with long-term innovation. In this way, the CFO’s role has moved to a front-line strategic partner driving the company’s trajectory in a fiercely competitive landscape.
What lessons can you share about leading financial planning during periods of economic volatility—especially when balancing investor expectations with internal growth needs?
Navigating economic volatility requires CFOs to master the delicate balance between managing investor expectations and supporting internal growth initiatives. Over the past few years, the volatility of macroeconomic factors—from inflation and interest rates to geopolitical tensions—has introduced new complexities into financial planning. During these times, the key lesson is to focus relentlessly on execution and controllable levers.
At Backblaze, we emphasize scenario planning, which involves modeling multiple potential outcomes to understand risks and opportunities. This allows us to prepare proactively rather than reactively, ensuring liquidity and operational flexibility. Cash flow discipline is paramount—knowing exactly where capital is allocated and adjusting spend to prioritize high-impact areas without sacrificing core growth drivers.
Additionally, transparent communication with investors is critical. Rather than overpromising, it’s better to set realistic expectations and demonstrate a clear plan to navigate uncertainty. This builds credibility and trust.
Moreover, investors can decipher a CFO’s priority and their philosophy based on metrics shared and focus of explanations. They can tell if a CFO has a serious command of the numbers, understands the real value creation drivers and whether they have a say in shaping the company’s focus. Internally, fostering alignment across functions ensures that financial plans support business priorities and innovation, even in a cautious environment.
Ultimately, volatility rewards companies that are agile, disciplined and aligned—those that can quickly adapt plans based on new data, preserve financial health and sustain momentum toward strategic goals.
How should CFOs think about their role in enterprise-wide innovation, particularly in operational or product-related decision-making?
Innovation is no longer siloed within product or R&D teams—it is a company-wide imperative that requires the CFO’s active participation. CFOs must view financial planning as a dynamic, strategic dialogue, closely linked with product development and operational execution. This means going beyond traditional budgeting to become a key partner in evaluating innovation investments and outcomes.
CFOs bring a unique lens to innovation by rigorously measuring the ROI of investments across the business, whether in R&D, go-to-market or operational capabilities. This data-driven approach helps identify areas where capital is underleveraged or overallocated, providing actionable insights to optimize resource distribution. It also enables CFOs to challenge assumptions and prioritize projects that align with long-term strategic value and competitive differentiation.
Moreover, the CFO’s involvement ensures that innovation efforts are financially sustainable. By linking resource allocation with performance metrics and market opportunities, CFOs help unlock capital from inefficiencies and reinvest in initiatives that expand market reach or enhance product differentiation. In this role, the CFO acts as a catalyst for innovation, enabling agility while maintaining financial discipline—ultimately driving sustainable growth and shareholder value.
What advice do you have for CFOs navigating their first public company earnings cycles or analyst-facing roles? What did you learn in the process?
Stepping into a public company CFO role, especially post-IPO, presents a steep learning curve, with heightened demands around transparency, compliance and communication. My first advice is to develop a deep understanding of public company governance, including SOX controls, audit readiness and disclosure requirements. Gaps in this knowledge can expose the company to significant risk, so building a strong finance and legal team early on is essential.
Earnings cycles are not just compliance exercises—they are critical opportunities to shape your company’s narrative and build credibility with investors and analysts. Preparation is key: Spend significant time before earnings calls aligning with your executive team on messaging, anticipating tough questions and clearly articulating performance drivers and strategic priorities.
Engaging regularly with analysts and investors outside of earnings cycles helps you understand their expectations and perspectives, allowing you to tailor communications accordingly. Consistency and transparency foster trust and confidence, which are invaluable in managing market perceptions. Over time, becoming comfortable in these public forums enables you to tell a compelling, authentic story that supports the company’s long-term vision and valuation.
