CVO: How CFOs can lead successful ERP upgrades and system transformations

In today’s rapidly evolving business landscape, enterprise resource planning (ERP) upgrades and major system changes are no longer just IT projects, they are strategic enablers of growth, efficiency, and resilience. As organisations strive to become more agile and data-driven, the role of the CFO is transforming into that of a Chief Value Officer (CVO), a leader who drives enterprise-wide value through digital transformation.

As part of our ongoing CVO content series, which explores the key findings of BDO and ACCA’s Chief Value Officer – The Important Evolution of the CFO report, we recently hosted a webinar with our CFO advisory, digital and people advisory experts to discuss how CFOs can successfully lead ERP upgrades and system transformations.

ERP: A business enabler

ERP transformations should be framed as strategic investments that enable business growth, improve compliance, and enhance workforce productivity. Executives are more likely to support ERP investments when they view them as a business enabler, rather than just an IT upgrade.

CFOs must champion the business case by aligning ERP outcomes with broader organisational goals, whether it's preparing for mergers and acquisitions (M&A), scaling operations, or improving customer experience.

Strategies for a successful transformation

Don’t skip the evaluation and selection process

Some organisations make the mistake of skipping key steps, such as moving directly from the case for change to implementation without thorough evaluation and selection. ERP selection isn’t just about features, it’s about cultural fit, vendor partnership and long-term alignment. A robust evaluation process ensures the chosen ERP solution aligns with business needs, culture, and future scalability. Whether through formal request for proposals (RFPs) or interactive vendor dialogues, stakeholder engagement is key.

The CVO mindset reframes ERP as a value creation tool. Rather than focusing solely on compliance or reporting, CFOs must ask:

• How will this ERP enable growth?
• Will it improve workforce productivity?
• Can it enhance customer experience?

ERP is the foundation for broader transformation, supporting shared services, automation, and better decision-making across the organisation.

Change management is non-negotiable

ERP projects often fail due to a lack of user adoption. People resist change, making it personal and showing the benefits is critical to success. Change management must be embedded from day one, with clear communication, stakeholder engagement, and a team of champions to guide the organisation through the transition.

Balance your resource strategy and design for the future

Over-customisation can also hinder success. It’s important to resist the urge to build around every legacy process or pain point. Instead, aligning with best-practice processes and customising only where it truly adds value is recommended. Discovery workshops and vendor demonstrations can help shift mindsets and inspire innovation.

Resource constraints must also be managed by balancing internal resources with external support. While temporary project resources can help, key roles must be filled by internal staff to ensure ownership, continuity, and knowledge retention post-implementation.

You can’t outsource executive buy-in. Leadership must actively champion the change.

Implementation is just the beginning

ERP implementation is not a one-and-done exercise. To realise full value, organisations must continue evolving their systems, processes, and team capabilities. This includes exploring shared services, enhancing data governance, and embedding continuous improvement.

With AI increasingly embedded in ERP platforms, CFOs must consider future-proofing their tech stack. Organisations should weigh the stability of established vendors against the agility and innovation of newer entrants, always considering support, scalability, and risk appetite. Products without a clear AI roadmap may present a risk in terms of future capability.

While established systems offer stability, newer platforms may deliver faster innovation. The right choice depends on your organisation’s risk appetite and strategic priorities.

How BDO can help

ERP transformations are complex, but with the right leadership, strategy and people focus, they can be powerful enablers of value. CFOs must lead with vision, align stakeholders and ensure that technology investments are tied to measurable business outcomes.

If you're considering an ERP upgrade or major system change, BDO’s CFO Advisory, Digital and People Advisory teams are here to support you from strategy and selection to implementation and change management. Contact us today to discuss your ERP journey.