CFO on the spot: 8 questions with BlackLine’s Patrick Villanova

Technical fundamentals such as forecasting, reporting and capital allocation are essential for any finance leader. However, what truly sets a strong CFO apart is the ability to communicate effectively through storytelling. A great finance leader must be able to translate financial data into narratives that resonate with a variety of audiences.

For investors and analysts, this means articulating the company’s strategy and explaining how it connects to meaningful financial outcomes. For the board, it involves distilling complex data into clear, detailed insights that support decision-making. Internally, finance leaders must help cross-functional teams, such as product and marketing, understand how their efforts impact overall performance, even if those teams aren’t finance experts.

In every case, success depends on more than just sharing dashboards and reports. It requires making the numbers understandable, relevant and actionable. That ability to tell the story behind the numbers is what defines exceptional financial leadership. 

What I like most about my role is the opportunity to be part of a major transformation in the accounting and finance industry. For centuries, the field remained largely unchanged, relying on paper ledgers and manual processes. That began to shift in the 1980s with the introduction of computers and spreadsheet software that revolutionised the way accountants worked. Two decades later, platforms like BlackLine ushered in the second wave by bringing automation into the profession. 

Today, we’re on the brink of a third wave driven by artificial intelligence. This new era has the potential to not only streamline workflows but also enhance the overall experience for finance professionals. 

Being part of a company leading this evolution is incredibly fulfilling. I’ve experienced the frustrations of manual accounting first-hand and now I get to help build a future where finance teams can work with greater impact. It’s an exciting time.

Building trust in AI. It is the next big step in finance technology, but its adoption depends heavily on user confidence. Finance professionals, by nature, are detail-oriented. They need to fully understand how decisions are being made, what the underlying logic is and whether those outcomes are accurate and reliable. In finance, 99% accuracy is 100% failure. It’s got to be perfect.

It’s not enough to develop the technology; the real hurdle is getting people to trust it. Just as previous generations had to adapt to new tools – whether it was saving files to a floppy disk in the 1980s or relying on software to automate reconciliations in the early 2000s – we now face a similar resistance to change. Overcoming that hesitation is critical and it’s up to companies like ours to demonstrate that AI can be trusted to meet the high standards of financial accuracy and accountability.

A piece of technology that bridges the gap between financial data and the narrative a CFO needs to communicate. Most systems today offer reporting and formatting tools, but none truly reflect the way a CFO thinks. We often know the answers early – whether it’s the final close, a revised forecast or a budget adjustment – but a significant amount of time is spent compiling, translating and presenting that information to various stakeholders.

What’s missing is a tool that can capture the thought process or spoken analysis of a CFO and intelligently align it with live financial data. Imagine being able to talk through your interpretation of the numbers while a system builds a digestible, coherent story tailored for the board, investors or internal teams. That kind of AI-powered narrative engine would dramatically streamline communication and decision-making. I think it’s the next multi-billion dollar idea. 

A book I recommend is Cockpit Resource Management. While it’s written about how flight crews operate, it’s really a powerful metaphor for team leadership in any high-stakes environment. The book focuses on how to function effectively as a team. Many of its lessons apply directly to finance and accounting, which I view as a true team sport.

One of the most impactful concepts in the book is the idea of respectful dissent. As you rise in your career, it becomes increasingly difficult to challenge others, especially those with deep experience and strong convictions. But successful teams depend on the ability to speak up, even when it’s uncomfortable. 

The book explores the dangers of staying silent when something is wrong, as well as the harm that comes from voicing disagreement without respect. Striking that balance – creating a space where honest feedback is encouraged and trust is preserved – is a skill every finance leader needs to develop. I remind my team regularly: if I’m making a mistake, tell me. That kind of open communication is essential for strong leadership.

You have to be very mindful about making time because if you don’t carve time out for yourself, you will fill it with work. For me, the best way to disconnect is through continuous physical activity. I enjoy jogging, swimming or going for a long walk – anything that keeps my body moving.

While passive activities can be relaxing for some, I find they leave too much room for my thoughts to drift back to work. Physical movement, on the other hand, not only benefits my overall health but also gives me a much-needed mental reset. It creates a natural break that helps me recharge and return with better focus and energy.

Growing up, I was obsessed with sports statistics. I’d grab the sports section after my dad finished reading it and study all the box scores. I always dreamed of being an MLB or NFL general manager – building teams and managing their finances. Back then, most general managers were former athletes, so it wasn’t realistic. But now, many are data-driven strategists, which makes it more attainable. It’s also a space where AI could be a game-changer for player performance evaluation. So if I weren’t in finance, I’d absolutely be chasing that path.