The Strategic Role of CFOs in Navigating Economic Pressure and Digital Transformation
The role of Chief Financial Officer (CFO) has become increasingly strategic in maintaining business stability whilst guiding companies through economic pressure, digital transformation, and sustainability demands. In an environment of considerable uncertainty, CFOs function no longer merely as finance managers but as strategic decision-makers and innovation drivers.
This emerged during the Indonesia Best CFO Awards 2026, organised by Warta Ekonomi Group as recognition of CFOs deemed capable of maintaining corporate financial health whilst fostering long-term growth. According to the Asia Pacific Mandatory Sustainability Reporting research (2024), CFOs play a crucial role in managing increasingly complex sustainability reporting, ensuring regulatory compliance, and creating business value through sustainability-oriented practices.
Muhamad Ihsan, CEO and Chief Editor of Warta Ekonomi Group, recognised CFOs as key actors in steering company direction. “In this situation, the CFO’s role becomes crucial, not only as a finance manager but also as an innovator, strategic decision-maker, and digital transformation leader,” he stated in Jakarta on 27 February.
He also noted that operational efficiency remains a challenge for many companies. “Our research shows that only 11.3% of surveyed companies successfully balanced operational costs and operational revenue (BO/PO ratio between 1%-50%). This indicates that operational cost efficiency remains a significant challenge for the majority of companies,” he added.
Benny Joeseop, Finance & Commercial Director and Board Member of Tripatra Engineers & Constructor, described CFOs as now required to serve as architects of sustainable value amid economic pressure and ESG demands. “Regarding the CFO’s role in industry and daily company operations, I am presenting the topic of CFO as an architect for sustainable value, particularly how discipline in capital, digital and ESG translates into action,” he said.
He identified four major challenges facing Indonesian CFOs: ensuring capital efficiency, optimising working capital management, and balancing short-term and long-term strategies. He emphasised the critical importance of liquidity management, noting that “cash is the lifeblood, not just the king. Liquidity planning is absolutely essential.”
Joeseop stressed that CFOs are no longer focused solely on reporting. “CFOs are no longer just managing numbers and reporting; they must also design resilience, allocate capital wisely, and enable transformation amid economic volatility, geopolitical challenges and more,” he concluded.
The awards recognise CFOs who have successfully maintained corporate resilience whilst driving innovation and sustainable growth within the dynamics of the global economy.