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Persistent inflation, high interest rates, tight labor markets. Today’s fierce financial headwinds are prompting business leaders to adopt an all-hands-on-deck approach, with CFOs frequently situated at the helm. But as CFOs take on an increasingly strategic role, there’s more pressure on—and potential for—chief accounting officers (CAOs) to elevate their role as well, from being the stewards of data to providing value-added insights and strategic guidance to the C-suite.

Yet the elevated CAO profile comes at a time when traditional accounting teams are busy battling their own headwinds—namely, an alarming talent crisis, heightened regulatory complexity, and obsolete data management processes that simply can’t keep pace with the volume and velocity of modern business data.