Breaking silos: How Finance can partner with HR and IT to drive business growth

Cross-functional collaboration between Finance, HR, and IT leaders is emerging as the key driver of sustainable business growth. Yet, according to the SAP Concur CFO Insights research, most CFOs still see themselves as the sole owner of growth initiatives, while only 9% believe leadership should be shared across functions.

This misalignment creates challenges—but also opportunities. Over half of IT leaders want CFOs to improve collaboration on digital transformation, while 54% of HR leaders seek deeper financial insights to strengthen workforce planning. As Julie Schwendimann, VP of Global Shared Services, Operations at Stanley Black & Decker, puts it: “Finance leaders are central to all growth through financial strategy and risk. But sustainable growth is not just up to them.”

In this edition of SAP Concur CFO Insights, we explore the real challenges of cross-functional collaboration and share five practical actions CFOs can take to break down silos and partner effectively with HR and IT:

1. Share ownership of business growth across finance, HR, and IT.
2. Create the conditions for a true cross-functional partnership.
3. Align around measurable outcomes like customer experience and productivity.
4. Build cross-functional understanding through knowledge-sharing.
5. Champion a collaborative culture across travel and expense management and AI initiatives.