Finance insights based on real market conversations between January 2026 and March 2026
The finance transformation market is entering a more grounded and execution-focused phase. The emphasis is shifting away from experimentation and towards delivering measurable outcomes.
Across the organisations I’m working with, transformation is no longer judged by the scale of technology investment alone. Increasingly, it is defined by its ability to reduce cost, improve data visibility, and support better, faster decision-making.
In conversations with finance leaders, cost pressure remains the dominant driver. Persistent macroeconomic uncertainty, higher interest rates, and continued margin compression are forcing a more disciplined approach to operating models.
Many organisations are targeting meaningful cost reduction through multi-year transformation programmes. This is not being approached as a series of isolated initiatives, but as a broader redesign of how finance operates, what activities are performed, where they sit, and how they are supported by data.
A consistent theme is the evolution of shared services and global business services (GBS) models. There is renewed momentum behind centralisation, but with a shift in intent. Earlier models were often driven by labour arbitrage. Now, the focus is on building more integrated, data-enabled service models that provide end-to-end process visibility.
Transactional finance activities, accounts payable, receivable, and general ledger, are increasingly being consolidated into fewer, more standardised hubs. Where this is executed well, organisations are seeing reductions in process cost alongside improvements in control and reporting consistency.
At the same time, cost transparency remains a challenge. Despite significant investment in systems over the past decade, many finance teams still lack a single, reliable view of their cost base. Data is often fragmented across multiple platforms, making it difficult to identify inefficiencies or respond quickly to changing conditions.
As a result, a growing share of transformation effort is being directed towards data integration and the creation of unified reporting layers. Establishing a “single source of truth” is often a critical first step in enabling more advanced capabilities such as profitability analysis and dynamic cost management.
While the underlying themes are consistent, the pace and nature of execution vary by sector.
PE-backed businesses
In PE-backed environments, transformation is typically tightly scoped and commercially driven. CFOs are working to defined value creation plans, with investment evaluated against clear returns. Priorities tend to centre on strengthening reporting infrastructure, building the data visibility and KPI frameworks investors expect and reshaping finance teams, often with greater emphasis on FP&A and business partnering capability.
Large listed and FTSE environments
In larger listed organisations, transformation is broader in scope and longer in duration. ERP modernisation remains a major focus, with a shift away from heavily customised legacy systems towards cleaner, cloud-based platforms. The “clean core” philosophy is gaining traction, standardising processes, reducing customisation, and removing non-value-adding activity. The benefits are clear, but the level of organisational effort required is often underestimated.
Infrastructure, energy and large-scale services
In infrastructure, energy, and large-scale services organisations, transformation is often running alongside significant capital programmes. CFOs are balancing long-term investment with near-term cost discipline, while building finance functions capable of supporting complex delivery environments. Data challenges are particularly acute, with fragmented systems and inconsistent definitions limiting the ability to generate timely, reliable insight.
These are the themes coming through most consistently in conversations with CFOs and finance leaders:
Shift to cost-focused transformation
Cost reduction remains the primary lens through which transformation is being assessed. Programmes are increasingly tied to clear financial outcomes, with a more disciplined focus on initiatives that deliver measurable impact.
Evolution of shared services and GBS
There is continued momentum behind shared services and GBS models, with a shift towards more integrated, standardised service delivery. The focus is on end-to-end visibility, improved data access, and clearer ownership across finance processes.
Data as a critical constraint
There is growing recognition that data challenges are more significant than many expected. Issues around quality, consistency, and fragmentation remain key barriers, often limiting the value of wider system investment. As a result, more effort is being directed towards governance, cleansing, and data model redesign.
Focus on cost transparency
Many organisations still lack a single, reliable view of their cost base. Data remains spread across multiple systems, and reconciling it is time-consuming. Establishing a “single source of truth” is increasingly seen as a prerequisite for effective cost management.
Process simplification and “Clean Core”
Reducing complexity in finance processes and systems remains a clear priority. The move towards “clean core” standardising processes, minimising customisation, and removing non-value-adding activity is gaining pace. Where executed well, this leads to reduced manual effort and improved data consistency.
Cloud adoption as an enabler
Cloud adoption continues across most organisations, driven by the need for flexibility, integration, and real-time access to data. The focus is less on migration itself and more on what it enables: better connectivity, improved reporting, and scalability.
Zero-based budgeting and continuous cost discipline
There is increasing interest in zero-based budgeting and more continuous approaches to cost management. Finance leaders are moving away from incremental models towards requiring spend to be justified from first principles, helping embed longer-term cost discipline.
AI entering the finance agenda
Artificial intelligence is moving from concept to practical consideration, particularly in areas such as FP&A and reporting. However, adoption remains measured, with most organisations recognising that value is dependent on having clean, consistent data.
Workforce reshaping
Finance functions are being reshaped rather than significantly reduced. Transactional roles are being streamlined or relocated, while investment is increasing in analytics, performance management, and business partnering.
Stronger focus on value realisation
There is a more structured approach to tracking and delivering transformation benefits. Organisations are implementing clearer ownership, more granular metrics, and stronger governance, with a focus on demonstrating tangible financial outcomes.
Taken together, the direction of travel is clear. Finance transformation is becoming more disciplined, more data-driven, and more focused on outcomes.
Success is no longer defined by the ambition of the transformation agenda, but by its ability to deliver measurable, sustainable improvements. The organisations making progress are those focusing on the fundamentals, cost, data, and execution, while building operating models that are both efficient and adaptable.
In an environment of continued uncertainty, the ability to translate transformation into tangible results will remain the key differentiator.
Written by Luke Moriarty, Senior Director specialising in Finance Transformation and Matt Gunn, Director in BIE’s CFO & Financial Leadership Team
