Why Finance Teams Are Becoming More Strategic in an Uncertain Economy
Why finance teams are becoming more strategic as businesses balance economic uncertainty, rising employment costs, and the need for better commercial decision-making.
Over the past few months, it has become increasingly clear that finance leaders are no longer being asked simply to report on business performance because they’re being expected to influence it.
Following the Spring Forecast and the latest economic outlook, organisations continue to operate in an environment where growth remains modest, inflation is easing but still present, and employers are carefully balancing investment against rising employment costs. While there are signs of optimism for the years ahead, the short-term picture continues to demand careful planning rather than confident prediction, and that shift has fundamentally changed what businesses need from their finance teams.
Traditionally, finance departments were measured by accuracy, compliance and reporting. Those responsibilities remain essential, but they are no longer enough on their own. Increasingly, boards are asking their finance leaders different questions. What happens if inflation remains higher for longer? What if recruitment slows? Where should investment be prioritised? Which projects deliver the greatest commercial return?
Answering those questions requires finance professionals who understand the numbers, but who also understand the business behind them. We’re seeing growing demand for Financial Planning & Analysis professionals, Commercial Finance Business Partners and Finance Managers who are comfortable working alongside operational teams rather than sitting behind spreadsheets. Businesses want people who can interpret data, explain trends and influence decision-making, because accurate reporting only creates value when it leads to better decisions.
This is particularly noticeable amongst growing SMEs and mid-sized organisations as these businesses often don’t have the luxury of large finance functions with highly specialised roles. Instead, they need finance professionals who are commercially aware, confident communicating with stakeholders and capable of supporting strategic decisions across multiple areas of the business.
Technology is also changing expectations with automation continuing to remove much of the repetitive transactional work that once occupied finance teams, allowing professionals to spend more time analysing information and providing commercial insight. Rather than replacing finance professionals, technology is elevating their role. As routine tasks become increasingly automated, judgement, communication and critical thinking become the skills that create the greatest value.
For employers, this means recruitment decisions should increasingly focus on capability rather than simply technical competence. Professional qualifications remain important, but they should sit alongside commercial curiosity, stakeholder management and the ability to influence decisions at every level of the organisation.
Finding that combination isn’t always straightforward; many technically strong finance professionals have spent years developing expertise in reporting and compliance, while commercially minded candidates with excellent communication skills are often highly sought after across multiple industries. As competition for talent continues, businesses that can clearly articulate how finance contributes to strategic decision-making are likely to stand out when attracting experienced professionals.
At The ONE Group, our specialist Accountancy & Finance consultants work with organisations ranging from growing SMEs to multinational businesses, helping them recruit professionals who bring both technical excellence and commercial value. Whether you’re looking to strengthen your finance leadership team, recruit an experienced Finance Business Partner or simply understand what today’s market looks like, we’re here to provide honest advice, market insight and access to the talent that will help your business move forward.