Cherry Bekaert's CFO Survey Reveals Urgent Priorities and Strategic Shifts in Middle Market Finance

RALEIGH, N.C., Nov. 5, 2025 /PRNewswire/ -- Cherry Bekaert (the Firm), a leading advisory firm, today released the results of its inaugural survey of U.S. middle market CFOs, revealing that finance modernization is now a top priority for organizations. An overwhelming 99% of CFOs plan to modernize their finance operations in the next twelve months to navigate economic uncertainty, technological disruption and talent shortages.

The survey, "Modernization in Motion: Insights from Middle Market CFOs," polled senior finance executives at companies valued between $5 million and $250 million across diverse industries. The research aimed to uncover strategic priorities, operational challenges, modernization readiness and emerging trends, providing actionable insights for both enterprise transformation and finance leadership. This report supports a larger research initiative for the Firm's Finance Modernization solution, assisting mid-market finance executives on their transformation journey.

Key Findings From the Cherry Bekaert CFO Survey Include:

• Fragmented systems and data slow progress:
  • 58% of CFOs experience delays in forecasting due to system fragmentation.
  • 55% cite data accuracy and consistency as major hurdles.
• Talent gaps persist:
  • 42% of CFOs say skill gaps are a barrier to automation adoption, while 44% report tech experts lack finance knowledge.
  • 71% plan to develop or better train existing finance teams; 61% intend to hire new talent in the next year.
• Manual processes remain widespread:
  • 26% of CFOs report relying on time-consuming manual processes for core activities such as month-end close (29%), audit preparation (34%) and budgeting (23%).
• AI adoption accelerates:
  • Nearly half (47%) of CFOs are using AI or machine learning-based financial tools, but many struggle to translate adoption into measurable gains.
  • 69% say they will be finding more efficient ways to work over the next year, leveraging AI and automation to do so.
• Modernization is urgent and enterprise-wide:
  • 59% of CFOs are supporting company expansion or growth, and 52% are involved in digital transformation efforts.

The survey reveals that decision velocity in finance, the speed at which finance teams move from insight to action, has emerged as the new differentiator for middle market organizations, with leading CFOs prioritizing faster, data-driven decisions to outpace disruption and drive enterprise value.

"Middle market CFOs are at a turning point. They're being asked to deliver faster, smarter decisions with lean teams and tight budgets," said Roy Nicholson, Business Optimization Leader, Cherry Bekaert. "Our survey shows that the cost of inaction is rising, and the path to speed with control runs through integrated data, scenario-ready planning, and a blended talent model."

The survey also found that CFOs are expanding their roles beyond traditional financial stewardship, with nearly two-thirds now acting as strategic growth architects, embracing modernization as an urgent, enterprise-wide mandate. As finance evolves from a back-office function to a driver of enterprise value, modernization is no longer optional — it's essential.

"Success in finance modernization isn't just about technology — it's about talent," said Jenni Huotari, Outsourced Accounting Services Leader, Cherry Bekaert. "CFOs must upskill teams, hire for digital fluency and bring in external partners to close capability gaps without disrupting operations."

Additional insights from the survey:

• 39% of CFOs are concerned about forecasting accuracy, citing fragmented and reactive processes.
• 71% plan to develop or better train existing finance teams, while 61% intend to hire new talent in the next year.
• 59% of CFOs support company expansion or growth, and 52% are involved in digital transformation efforts.

Strategic Imperatives and Actionable Insights

The full report outlines five imperatives for finance transformation, including foundational improvements, strategic talent development, intelligent AI adoption, scenario-based planning and leadership evolution.

"As CFOs take on more strategic and operational responsibilities, the pressure to modernize continues to grow. Our report shows that without solutions targeted at driving efficiency and scale, finance leaders risk falling behind in creating value for the organization," says Dan Wheadon, CFO Advisory Leader, Cherry Bekaert.

With those five priorities in mind, the report closes by outlining 12 targeted actions through the Firm's People, Process, Data and Technology framework, enabling CFOs to modernize with clarity, confidence and measurable impact.

Read the full survey report, or find more information on finance modernization here.

About Cherry Bekaert

Cherry Bekaert, ranked among the largest assurance, tax, and advisory firms in the U.S., serves clients across industries in the U.S. and internationally. "Cherry Bekaert" is the brand name under which Cherry Bekaert LLP and Cherry Bekaert Advisory LLC, independently owned entities, provide professional services in an alternative practice structure in accordance with applicable professional standards. Cherry Bekaert Advisory LLC is not a licensed CPA firm. Cherry Bekaert LLP is a licensed CPA firm that provides attest services, and Cherry Bekaert Advisory LLC and its subsidiary entities provide business advisory and non-attest services spanning the areas of transaction advisory, risk and accounting advisory, digital solutions, cybersecurity, and tax. We exercise a deliberate curiosity to know our clients' industries and work collaboratively to create shared success. For more details, visit cbh.com/disclosure.

Cherry Bekaert LLP and Cherry Bekaert Advisory LLC are members of Allinial Global, an accountancy and business advisory global association. Visit us at cbh.com and follow us on LinkedIn, Facebook,X or Instagram.

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