So much about finance is changing so quickly that ongoing learning has become essential. For example, in the past two years, I've seen CFOs advance from having a basic understanding of data science to creating and heading up data science teams and working alongside a data engineer.

But today's CFOs also are facing polarized changes in their role, thanks to rampant automation. On one end, there's pressure on CFOs to have more technology-related capabilities. At the other end, new business models are pushing CFOs to improve their understanding of the enterprise business model and the value of their products and services.

Digital transformation is driving both, and it's also attracting an unprecedented level of investment. CFOs now need to understand how technology can change the customer experience and enable new ways of serving the customer, and then reimagine their business models. They need the ability to guide decision-making around their organization's digital strategy, including the risks and potential impact of existing and emerging technologies. This extends to the tactical (the IT resources themselves) but also to the strategic implications for new product and service development, partnerships, acquisitions, and other investments.

They also need to know how to collaborate, communicate, solve problems, think critically, and really engage and influence the whole organization. Advances in automation are behind this need, too.

Finance has always assembled and reported information that's vital to assessing and improving organizational health. In a digitally transformed organization, much of this data gathering and reporting is automated. So finance teams need to start using their skills to provide deeper insights that can spur action, influence decisions, and create value throughout the enterprise. This type of work requires collaboration with cross-functional teams and non-finance professionals-and at times, leadership.