Earlier this year, when global software giant Salesforce set out to appoint a new chief financial officer (CFO), the role came with an addition.
Kindly note the image has been posted only for representational purposes. Photograph: Kind courtesy Christina Morillo/Pexels.com
Instead of hiring solely a CFO, the company wanted someone who would also play an integral role in operations.
That’s why, four months ago, when Robin Washington was appointed CFO, she was also given the title of chief operating officer.
When asked if this was the first time Salesforce had merged the two positions, she said: “I joined Salesforce only four months ago as chief operating and financial officer (COFO).
“This is the first time we have looked at the chief operating officer and the financial officer role as one.
“I think this allows us to break down silos.
“This also makes the COFO organisation a much more effective business partner.”
She was speaking at a virtual media briefing on the changing role of CFOs in the AI era, as the firm unveiled the latest findings of research showing that CFOs are taking bigger, more strategic bets on artificial intelligence (AI).
Global financial technology PayPal also made this shift earlier this year. Jamie Miller, CFO of PayPal, saw her role expand to include that of chief operating officer.
Miller, who also joined the media interaction, acknowledged the need for this change: “The role of the CFO has always been about looking into growth and productivity, building financial frameworks, creating an accountability lens, and leaning into operations.
“But with AI, it is becoming a multi-dimensional task that requires CFOs to be far more integrated into operations.
“In fact, they have to be, if they’re going to bring the full value of AI back to companies.”
She added that her team is using AI agents to create internal content around data analysis and first drafts of executive-level materials, particularly for summarising strategy.
Salesforce’s latest research shows CFOs are moving away from a conservative stance on AI.
Over the past five years, they have shifted from cautious experimentation to fully embracing its potential, largely driven by opportunities for revenue growth.
In 2020, 63 per cent of CFOs in Asia-Pacific (APAC) reported having a conservative AI strategy.
By 2023, that number had dropped to 33 per cent, and today it stands at just 3 per cent.
This change reflects a recognition among financial leaders that AI is now a vital tool for efficiency, operational optimisation, and long-term growth.
“CFOs today have to be truly strategic business partners.
“They are looking at how to define and allocate resources.
“That’s why we’re seeing roles like ours, where finance and operations are combined to unlock insights and efficiencies that directly impact business execution,” said Washington, president and COFO at Salesforce.
According to the data, CFOs’ rethinking of return on investment (RoI) underscores this transformation.
Half of APAC CFOs say AI agents are changing how they evaluate RoI, moving beyond traditional metrics to consider a broader range of outcomes.
Last year, 65 per cent faced pressure to accelerate RoI from tech investments.
Today, they recognise AI’s value lies not only in cost savings but also in long-term gains like revenue generation, productivity gains, and better decision-making.
