Why CFOs must work closely with CTOs in the age of AI
As the business landscape continues to evolve, the relationship between CFOs and CTOs has never been more critical. Today’s CFOs are no longer just financial stewards—they are strategic leaders shaping the direction of their companies.
A major part of that strategy now involves embracing technologies like AI, automation, and data-driven decision-making.
This shift is not just about adopting new tools; it’s about integrating these technologies into the financial framework to ensure sustainable growth.
Scott Herren, the CFO of Trintech, has seen this firsthand. Speaking at Forbes, he notes that the role of the CFO has expanded significantly beyond traditional financial responsibilities.
“CFOs are now responsible for driving strategic growth, ensuring compliance, and making informed technology investments,” he explains. “The modern finance function is increasingly reliant on automation, AI, and data to make better decisions.”
Given this shift, collaboration between the CFO and CTO is essential.
At Trintech, Herren emphasizes the importance of regular communication with the company’s CTO to ensure alignment on technology initiatives.
“The CTO manages key areas like software development and AI strategy, and it’s essential that we, as CFOs, stay engaged to make sure our investments align with our financial priorities and customer needs.”
In recent years, AI has become a cornerstone of financial and operational strategies. For Trintech, Herren’s conversations with their CTO have predominantly focused on AI strategy and policy.
“Our customers view AI as both an opportunity and a risk,” Herren says. “They expect AI-powered automation to improve efficiency and accuracy, but they also demand compliance and security. As CFO, it’s my job to strike the right balance.”
AI adoption at Trintech is a companywide effort. While the CTO leads the charge, it’s up to the CFO to ensure that AI investments lead to tangible results.
“AI is not just an IT initiative,” Herren points out. “It needs to be embedded in every key strategic decision we make. The CFO must oversee the integration of AI across departments and measure its impact.”
One of the most important tasks for any CFO, according to Herren, is measuring the return on AI investments.
“While AI can drive efficiencies, its real value comes from how well it integrates into existing workflows and improves performance over time,” he says.
At Trintech, the company assesses AI’s return on investment by evaluating factors like product roadmaps, time saved on manual processes, and improvements in productivity.
“Success isn’t just about adopting the latest AI tools—it’s about ensuring that these tools are used effectively and align with business objectives,” Herren explains.
“We focus on areas like customer retention, compliance, and efficiency. Our goal is to create value, not just incur costs.”
Herren also stresses the importance of data governance in AI implementations. “AI models rely heavily on accurate data,” he says. “Without proper governance, AI can’t deliver the kind of results we need, and it could even introduce new risks.”
Looking ahead, the relationship between CFOs and CTOs will continue to be a key driver of business success. As AI, automation, and digital transformation reshape industries, CFOs must become active participants in technology decisions. Herren offers several tips for CFOs who want to build a strong partnership with their CTO:
Herren believes that open communication between finance and technology is driving smarter, more strategic decision-making. For CFOs, he concludes, “Engage with your CTO frequently and thoughtfully—your company’s success depends on it.”