Historically, the CFO has been primarily a behind-the-scenes role. These days, CFOs have become strategic partners for future-ready CEOs and operational leaders. And now, many finance leaders may be moving toward what Joel Campbell called “CFO plus.”
Mr. Campbell is the CFO of TreviPay, a fintech company that provides a B2B payments platform. His more than 25-year career includes finance, chief risk officer roles, and senior finance leadership positions at companies such as Western Union and H&R Block before becoming CFO of TreviPay.
In his current role, Joel oversees responsibilities that extend beyond finance to M&A, strategy and human resources. “While this may be daunting for late-career executives, it is a great opportunity for finance teams to influence the growth and direction of the company,” says Campbell. In this interview, he talks about the power of diversifying responsibilities outside of the finance function, how to balance responsibilities, and other insights for the future.
What does “CFO Plus” mean?
The CFO's role has evolved beyond managing the books. Today's CFOs are expected to contribute to overall company strategy, often working with general counsel and operational leaders to shape decisions around growth, risk, and ownership structure.
As an example, at TreviPay, I oversee all traditional finance functions, but I also work on company-wide strategy, global go-to-market strategy, M&A, facilities and procurement. We also support the human resources department. While this can be daunting for late-career executives, it presents a great opportunity for finance teams to influence the growth and direction of the company.
This broader involvement also improves how CFOs communicate with boards and investors. Strategic updates go beyond numbers. These become context-rich stories that explain why performance is the way it is and where the business is heading. The ability to link financial results to underlying decision-making and impact on employees is becoming increasingly important.
How can CFOs balance traditional financial responsibilities with the increasing demands of digital transformation and technology strategies?
As demand for digital transformation and technology strategies increases, CFOs have become key voices in shaping business resilience. They drive growth and manage risk in an increasingly digital economy.
From capital planning to risk management, technology considerations are on the agenda today. This can cause tensions, especially when both customer demand and product innovation compete for limited resources. This balancing act manifests itself in real-world trade-offs, such as choosing whether to upgrade an ERP system or deciding when automation saves money and when it creates new strategic value.
The goal is to choose the right systems or processes that deliver real-time insights and allow leaders to course-correct faster and with more confidence. Additionally, increased visibility into cash flow and performance metrics allows finance leaders to more effectively evaluate trade-offs and align technology efforts with long-term business goals.
How can automation provide more information and more real-time data to senior finance leaders?
As a CFO, I like to say that we should aim for “zero-touch A/R,'' where the entire process is seamlessly integrated into business operations, requires minimal oversight, and virtually eliminates the need for intervention from the finance team.
why? Because manual adjustments, delayed reporting, and fragmented systems limit visibility and slow decision-making. When these processes are automated, finance leaders have continuous access to accurate, real-time information.
This enables faster, more informed decision-making across your organization. The role of finance teams will also change from reporting results to analyzing trends and guiding actions. Instead of being buried in transactions, teams become a source of insight.
And for CFOs, this means a clearer and more immediate view of where risks are emerging and where opportunities are taking shape. These provide important information for both day-to-day decision-making and long-term planning.
Reducing the administrative burden of A/R management through automation can transform customer relationships. By eliminating friction points such as credit applications, collection activities, and payment reconciliation challenges, you can improve your customer experience while improving your company's financial metrics. This is a win-win, which is rare in business operations.
Do you have any advice for people aiming to become a CFO?
There is no substitute for hard work. Being curious, present, and willing to learn opens up new opportunities for young professionals. It is also important to manage your career consciously. This may mean taking half-hearted steps to seek experience and training under a capable leader to gain the substantive knowledge needed to reach the next level.
We also recommend spending time learning how businesses operate outside of finance, such as how to forecast sales, how to price your products, and how customer experience impacts your bottom line. Develop skills to transform financial information into strategic insights that others can act on.
Be familiar with automation and analysis tools, not because you need to configure them, but because you need to evaluate their impact. And the CFO role is evolving even more rapidly, especially for companies in disruptive industries like technology and healthcare, so expect the role to continue to evolve.
