Are Finance’s Problems Actually Finance’s Problems?

Finance teams are often seen as problem solvers, and the go-to function for fixing process inefficiencies, plugging data gaps, and ensuring everything runs smoothly. But as CFOs, we need to ask ourselves, are the problems we deal with truly finance problems? Or are we just the final stop in a long chain of upstream issues that never got resolved?

Too often, finance is caught in a whack-a-mole cycle, fixing symptoms instead of addressing root causes. We refine reporting to compensate for bad data. We tighten cash flow management to cover for poor sales forecasting. We chase overdue payments when credit terms were set too loosely to begin with. Instead of pushing problems back where they belong, we absorb them, taking ownership of issues that should never have landed in finance’s lap.

How Problems Land in Finance

Many of the biggest headaches for finance; slow month ends, forecasting accuracy, late payments, cost overruns, data issues, don’t start in finance. 

They start outside of finance, then come crashing into finance, usually at peak moments of the month and year, like period end, year end or during tight reporting deadlines and board paper creation. And finance just has to deal with it, fixing the impact and the symptom, without fixing the cause, therefore never in control of their destiny.

They originate upstream in other functions:

• Poor Sales Planning leads to unrealistic revenue projections, which finance is expected to "fix" with flexible cash flow management.
• Inefficient Procurement creates invisible spending patterns that make budgeting a nightmare.
• Lack of Operational Data Discipline forces finance teams to spend time cleaning and reconciling data before any meaningful insights can be drawn.

Each of these issues starts elsewhere, but finance ends up owning the consequences. So why does finance continue to absorb these problems instead of pushing them back? 

A few reasons:

• Expectation Management – Finance is expected to "just make it work," even when upstream processes are broken.
• A Culture of Firefighting – Many finance teams pride themselves on their ability to solve problems under pressure, making them reactive rather than proactive.
• Control vs. Influence – Finance doesn’t always have direct control over the departments creating these issues, making it easier to just fix the problem rather than fight for systemic change.
• Short-Term vs. Long-Term Thinking – Fixing the root cause requires a long-term effort, whereas patching things up provides immediate relief.

The CFO’s Role - Fix the Source

As CFOs, we need to break this cycle by prioritising improvement initiatives that are set up across the functions to fix the end-to-end problem, working on the causes, and maintaining upstream integrity, instead of continuing to absorb problems.

Here is how we can fix finance’s problem;

• Identify Recurring Upstream Issues – Track where problems are coming from. If finance is always fixing forecasting issues, dig into how forecasts are built in the first place.
• Engage Early in Decision-Making – Work cross-functionally with sales, procurement, and operations to set better data and process policies that prevent issues from reaching finance.
• Create Accountability – Push back when other teams try to offload their problems. If operational data is unreliable, they need to fix it, not finance.
• Move from Fixing to Transformer – Shift from being problem solvers to problem preventers. Instead of managing bad data, drive initiatives to improve data collection at the source.

Not every finance problem is truly a finance problem. As CFOs, we must look upstream to stop playing whack-a-mole and start driving real change. The key isn’t just better reporting or tighter controls, it’s ensuring that issues are tackled at their source, long before they land on finance’s desk.

In reality, making this happen will require a change and shifting our thinking and ways of working. We will need to shift to a continuous improvement approach running agile initiatives that cover the end-to-end process, from finance back upstream to the source.  It will be a core part of your function, and will need to be supported and resourced by the CFO.

Ready to give finance a fishing rod, instead of the bad fish? 

Ready to move the goalposts and play, instead of trying to move the molehills? 

Ready to move across function to fix your own function?

If not, finance is likely to remain the owner of operational problems, and whack-a-mole experts unable to make effective change themselves, and ultimately, miss the chance to improve their services to the business, the evolution of their job role, and sadly remain a battered back office function.