As a fractional CFO, you know your value goes beyond crunching numbers. You’re the go-to for insights, strategy, and making the kind of decisions that move businesses forward. But delivering that kind of impact gets harder when you’re buried in spreadsheets, chasing invoices, or manually piecing together reports. That’s where the right tech stack comes in.
Building out your modern CFO tech stack can be your secret weapon. That’s because it optimizes your workflows, eliminates tedious tasks, and gives you real-time data to make smarter decisions faster.
Whether you’re managing cash flow, tackling payroll, or ensuring tax compliance, the right tools make all the difference. In this guide, we’ll break down the must-have software categories and highlight the best options for each.
- What is the modern CFO tech stack?
- Why CFOs and fractional CFOs need the right tools
- How to choose the best CFO tools for your needs
- Key categories of CFO tools to consider
- How to make your CFO tools work together
What is the modern CFO tech stack?
A modern CFO tech stack is your financial command center. That’s because it makes you a strategic financial partner and not just a bean counter.
The right tech stack acts as your curated set of tools that save time, reduce errors, and give you a clear view of cash flow, profitability, and more.
Why CFOs and fractional CFOs need the right tools
When you’re managing multiple clients, all with different challenges, a solid tech stack keeps you efficient and ready to deliver real value, including:
- Save time. Automate repetitive tasks like invoicing and expense tracking.
- Improve accuracy. Reduce human error and keep financial data clean.
- Boost visibility. Get real-time insights into cash flow, profitability, and performance.
- Stay organized. Manage multiple clients without the chaos.
- Deliver value. Focus on mining insights from financial decisions and making more strategic decisions instead of chasing numbers.
How to choose the best CFO tools for your needs
Choosing the right tools for your CFO tech stack is about aligning features with your business’s specific needs and goals. With so many options available, it’s easy to get overwhelmed.
Here’s how to narrow it down:
- Define your priorities. Are you focused on cash flow forecasting, expense management, automating sales tax compliance, or streamlining payroll? Start with your most pressing challenges and look for tools that address them directly.
- Consider scalability. If your business or client portfolio is growing, choose tools that can grow with you. Features like multi-entity support, integrations, and customization options are key.
- Check for integrations. The best tools play well with others. Look for platforms that integrate with your existing software, like accounting or CRM systems, to avoid creating silos.
- Evaluate ease of use. Even the most powerful tool is useless if it’s too complicated for your team. Opt for solutions with intuitive interfaces and strong support resources.
- Weigh costs vs. benefits. While it’s tempting to go for the cheapest option, prioritize value over price. Consider how much time and money a tool will save you in the long run.
- Test the software. Most platforms offer free trials or demos. Use these to explore features, test usability, and ensure it meets your needs before committing.
- Check reviews and case studies. Learn from others in your industry. User reviews and success stories can provide valuable insights into how the tool performs in real-world scenarios.
Ultimately, the best CFO tools are the ones that make your life easier, improve decision-making, and help you deliver more value to your business or clients.
Key categories of CFO tools to consider
A modern financial tool stack will include software that can include everything from cloud accounting and financial reporting to purchasing, sales tax, and payroll
Financial reporting
NetSuite
NetSuite is a cloud-based financial management and ERP solution by Oracle. It offers real-time financial reporting, advanced analytics, and the ability to consolidate multiple entities in a single platform. Key features include customizable dashboards, automated revenue recognition, and built-in compliance management for global operations.
If you’re managing complex businesses with multiple subsidiaries, NetSuite’s robust reporting tools can save you hours of manual work. Its integrations with other Oracle solutions make it a solid choice for companies looking to scale their financial operations seamlessly.
The downside of NetSuite is its complexity. Smaller teams or those without a dedicated finance or IT function may find the initial setup and ongoing maintenance overwhelming. Additionally, it can be pricey for businesses with limited budgets.
Pricing varies based on business needs and modules selected. You’ll need to request a custom quote from NetSuite’s sales team.
Rippling
Rippling is an all-in-one HR, payroll, and financial management platform. Its financial reporting tools allow businesses to track key metrics, analyze trends, and manage spend across departments. Key features include automated expense tracking, reporting dashboards, and integrations with popular accounting platforms.
If you’re already using Rippling for payroll or HR management, adding its financial reporting capabilities can help streamline operations and keep everything in one system. The intuitive interface and automated workflows make it particularly appealing to small and mid-sized businesses.
However, Rippling’s financial tools aren’t as comprehensive as dedicated ERP systems like NetSuite. It’s a great option for companies that don’t need complex reporting but may fall short for those with more advanced needs.
Pricing starts at $8 per user per month, with additional fees for specific modules like financial management. You can customize your plan based on your business size and needs.
Cloud Accounting
QuickBooks Online
QuickBooks Online is a cloud-based accounting software by Intuit, designed for small to medium-sized businesses. It offers tools for managing income, expenses, invoicing, and financial reporting. Key features include automated transaction syncing, expense categorization, and real-time cash flow tracking. QuickBooks Online also integrates with over 750 apps, including payroll and time-tracking solutions.
If you’re looking for a reliable, scalable accounting tool, QuickBooks Online is a strong contender. Its tiered pricing plans and customization options make it suitable for businesses with varying needs and budgets.
Pricing starts at $35 per month for the Simple Start plan, with additional tiers—Essentials, Plus, and Advanced—offering more features and user access.
Xero
Xero is a cloud-based accounting solution designed for small businesses. It provides core accounting tools like invoicing, bank reconciliation, and real-time financial reporting. Key features include unlimited user access, integration with over 1,000 apps, and multi-currency support in higher-tier plans.
For businesses that value flexibility and collaboration, Xero is a top choice. Its intuitive interface and app integrations make it easy to adapt to different industries and workflows.
The downside is that some features, like project tracking and multi-currency, are only available in the higher-tier plans. Smaller businesses may also find Xero’s pricing less competitive for their needs.
Pricing starts at $20 per month for the Early plan, with Growing and Established plans at $47 and $80 per month, respectively. Each tier adds more advanced features and increased transaction limits.
Purchasing
ProcurementExpress.com
ProcurementExpress.com is the go-to solution for finance leaders who want to simplify purchasing, automate approval workflows, and take control of cash flow management. With tools like Invoice Scan & Match to streamline invoice tracking and Batch Payments to handle multiple payments at once, it saves valuable time and reduces errors.
Modern features like the Punchout Chrome Add-on turn online shopping carts into draft purchase orders, while the Mobile App lets you manage approvals from anywhere. For deeper automation, Zapier Integration connects your workflows with thousands of apps, no coding required.
With its integration to QuickBooks Online, customizable budgets, and clear cash flow insights, ProcurementExpress.com transforms how businesses manage finances. Try it free for up to 10 purchase orders—no credit card required. Paid Plans start at $256 per month.
Fathom
Fathom is a financial analysis tool best known for its robust cash flow forecasting and reporting capabilities. It allows businesses to create detailed cash flow projections, run scenario analyses, and gain insights into how different variables could impact their financial future. With clear visualizations and customizable dashboards, it’s designed to help businesses make smarter, data-driven decisions.
While Fathom’s strengths lie in forecasting and reporting, it doesn’t offer much in terms of budgeting or cash flow management tools. It’s best suited for businesses focused on high-level financial insights rather than day-to-day cash flow operations.
Pricing for Fathom starts at $50 per month for its Starter plan, with additional plans available for businesses with more complex needs. For tailored pricing and features, visiting their official website or contacting their sales team is recommended.
Sales tax compliance
TaxJar
TaxJar is a cloud-based sales tax compliance platform designed for small to mid-sized businesses. It automates the process of calculating, collecting, and filing sales tax across multiple jurisdictions. Key features include automated tax calculations, seamless integrations with e-commerce platforms like Shopify and Amazon, and detailed reporting to track sales tax obligations.
For businesses selling in multiple states, TaxJar’s AutoFile feature is a game-changer, handling sales tax filing on your behalf. Its intuitive dashboard provides real-time insights into where you owe tax and ensures compliance with local regulations.
One limitation is that TaxJar is more tailored to e-commerce businesses. Companies outside this space may find its features less comprehensive compared to more industry-agnostic solutions.
Pricing starts at $19 per month for the Starter plan, with additional costs for AutoFile services depending on the number of states you need to file in.
Avalara
Avalara is a leading tax compliance solution designed for businesses of all sizes. It provides automated sales tax calculations, exemption certificate management, and tax return filing for companies operating across state and international borders. Avalara integrates with a wide variety of platforms, including ERP systems, accounting software, and e-commerce platforms.
For businesses with complex tax requirements, Avalara’s Avalara AvaTax module offers precise tax calculations based on real-time rules and rates. It also provides global tax compliance support, making it a strong choice for companies operating internationally.
However, Avalara’s advanced features and enterprise-level capabilities may feel overwhelming or unnecessary for smaller businesses with straightforward tax needs.
Pricing for Avalara varies based on business size and requirements. While entry-level plans start around $50 per month, businesses with more complex needs should contact Avalara’s sales team for a customized quote.
Payroll and employee benefits
Gusto
Gusto is an all-in-one payroll and HR platform designed for small to medium-sized businesses. It offers features like automated payroll processing, employee benefits administration, and compliance tools to help businesses manage their workforce seamlessly. Gusto also includes onboarding tools, tax filings, and integrations with accounting software like QuickBooks and Xero.
For businesses looking for a user-friendly payroll solution, Gusto stands out with its intuitive interface and flexible benefits options, including health insurance, 401(k) plans, and commuter benefits. Its automation capabilities save time by handling tax filings and ensuring compliance with state and federal regulations.
Gusto’s pricing starts at $40 per month plus $6 per employee, making it an affordable and comprehensive solution for businesses of all sizes. Additional features, such as benefits administration, may incur extra costs depending on your needs.
Justworks
Justworks is a Professional Employer Organization (PEO) that provides payroll, HR, and employee benefits solutions. It simplifies payroll processing with automated tax filings, direct deposits, and robust compliance tools. As a PEO, Justworks also negotiates benefits packages, including health insurance, 401(k) plans, and workers’ compensation, giving small businesses access to enterprise-level perks.
For growing businesses that want to offer competitive benefits while outsourcing compliance and payroll management, Justworks is an excellent option. Its focus on compliance ensures you stay on top of ever-changing labor laws and tax regulations.
However, the PEO model may not be ideal for every business, especially smaller ones that don’t need the full suite of HR services.
Justworks’ pricing starts at $59 per month per employee for its Basic plan. Additional features and benefits are available in higher-tier plans, with customized options for larger teams.
How to make your CFO tools work together
A disjointed system can lead to wasted time, errors, and frustration.
Here’s how to avoid that and get the most out of your stack:
- Start with the end in mind. Think about what success looks like for your financial workflows. Whether it’s real-time reporting or automated tax filings, make sure every tool supports your bigger goals.
- Build around a central hub. Your accounting software or ERP system should act as the backbone of your stack. Choose tools that integrate well with it to keep data flowing seamlessly.
- Standardize your processes. Before introducing new tools, lock down your workflows. Clear processes make it easier to integrate software and train your team.
- Leverage integrations. Avoid manual data entry by connecting your tools. Use APIs or platforms like Zapier to sync data between systems, saving time and reducing errors.
- Keep data clean and consistent. Make sure data formats, categories, and naming conventions are consistent across tools. Messy data creates messy reports.
- Review regularly. As your business evolves, your tech stack should too. Periodically audit your tools to make sure they’re still meeting your needs and working well together.
When your tech stack is in sync, you’ll spend less time fighting with software and more time focusing on what really matters. That’s delivering financial insights that drive results.
Key Takeaways
Building the right CFO tech stack is essential for managing business finances effectively and driving business growth. The right tools save valuable time, reduce errors, and provide the actionable insights needed to make informed business decisions. From cash flow management and financial planning to payroll, tax compliance, and supply chain operations, these tools work together to streamline workflows and support your business or clients.
If purchasing is one of those areas where things often fall through the cracks, ProcurementExpress.com can fill the gap. With automated approval workflows, invoice matching, and seamless integration with accounting systems like QuickBooks, it simplifies purchasing while keeping you in control of your cash flow and expenses. Whether you’re reviewing a bank statement or planning your next move, ProcurementExpress.com helps you stay ahead.
Ready to see how much easier managing purchases can be? Start your free trial today—no credit card required—and take the first step toward smarter financial management. Start your free trial here.
