Aidana Zhakupbekova serves as chief operating and financial officer of Rydoo, a software company that helps businesses manage employee expenses and accounts payable. She joined the company as CFO almost three years ago before her role expanded to formally include operations.
Zhakupbekova began her career as a credit risk analyst at IBM Shared Services. She later worked across accounting, financial planning and analysis, and credit risk before moving into smaller technology companies where she could take on more responsibility.
During our conversation, she discussed why uncertainty is forcing CFOs to revisit their plans more frequently, how companies can reduce costs without weakening growth, and why successful AI adoption requires clear guidance and human oversight.
How did you become a CFO?
I had to choose my career path quite early because I graduated from high school shortly after turning 17. Some members of my family worked in banking, and I was good at analytics and numbers. I also participated in a debating league, which helped me learn how to articulate my ideas. Those skills, combined with my desire to travel, led me toward finance.
My first finance role was a traineeship as a credit risk analyst at IBM Shared Services. After completing my master’s degree, I worked across accounting, FP&A, and credit risk, mainly within the European headquarters of American corporations.
In 2018, I moved to a smaller company because I wanted more opportunities to learn and have a greater impact. I joined as a senior controller and eventually became vice president of finance, reporting directly to the CEO. My next role was CFO of a consulting firm, but I realized that I missed technology. That eventually brought me to Rydoo.
How does being both COO and CFO shape the way you make decisions?
Since moving into startups and scaleups, I have never viewed finance as being limited to numbers and return on investment. Investors still expect growth, but growth at any cost is no longer acceptable. Companies must also operate efficiently.
That means understanding how the business works, what drives performance, which teams are involved, and what investment is required. The dual role gives me visibility into both the financial return and what must happen operationally to achieve it. It also makes it easier to align functions and make decisions more quickly.
What does Deloitte’s latest European CFO Survey tell us?
The survey reflects a high level of uncertainty among finance leaders. Approximately 48% of CFOs said they felt less optimistic about their companies’ financial prospects, compared with 25% in the previous survey.
As a result, 51% have used scenario analysis to understand how they could mitigate risks if those risks materialized. Cost reduction has also become a priority, while 36% expect their profit margins to decline over the next 12 months. Together, those findings paint a picture of uncertainty and preparation.
Why are so many CFOs feeling less optimistic?
We have seen considerable geopolitical uncertainty this year. Companies are also trying to balance their interest in AI with the challenge of controlling what they spend on it.
Some businesses may go too far because they want to use AI and become more efficient, but they cannot always identify the return they are receiving. Balancing those technology investments against wider geopolitical risks makes planning more complicated.
Why does traditional budgeting no longer work?
Finance is no longer focused only on reporting past performance and explaining variances. Leaders are increasingly concerned about what is coming next, whether they are investing in the right areas, and what they may be missing.
The traditional annual budget remains useful for setting initial targets, and I do not think it will disappear. However, it is no longer enough by itself because the assumptions behind it rarely unfold exactly as planned. Companies cannot wait until the next annual cycle to adjust their investments or targets.
Technology helps by giving finance teams greater visibility into spending and overspending. At Rydoo, we can see spending across specific budget categories in real time, which makes it easier to respond when adjustments are needed.
How can CFOs cut costs without hurting growth?
CFOs need enough detail to understand what is driving performance. If a company invests in entering a new region, for example, finance should monitor whether the expected marketing and sales milestones are being achieved.
If those milestones are late or not being met, the company needs to understand why. It may need to change its approach or pause an investment while it determines what should happen next.
Applying the same percentage reduction to every department may save money, but it can also weaken the company’s long-term growth. Cost decisions should reflect which investments are working and which ones need to be adjusted.
How should CFOs measure the return on AI investments?
Some AI returns are easier to measure than others. Companies first need to select and train the tool, prepare their data, and ensure that the information is clean and structured. That work takes time while costs are already being incurred.
In go-to-market functions, the return may become visible through new pipeline, faster processes, or better analysis of customer conversations. In finance, measuring the return across an entire process can take longer. In some cases, I may not be able to provide an exact return for six to nine months.
I also do not want AI simply to replace people. Junior employees still need to understand how the business works so they can determine whether an AI-generated answer is correct. We are therefore making smaller improvements within individual processes and keeping a human responsible for validating the final outcome.
Why do some companies struggle to get employees to use AI tools?
Employees may be interested in using AI but unsure how to use it safely. They need to know what is permitted, which information they can share, and what the company does not want AI to do.
Clear policies and approved tools make adoption easier. Without guidance, employees may choose different tools and remain uncertain about which company data they are permitted to share.
Finance teams can also be more cautious because their work has a material effect on the business. Employees need time to learn, experiment, and test the technology, but finding that time can be difficult in a growing organization where teams are already managing heavy workloads.
What do you do outside of work to avoid burnout?
I try to maintain a clear stopping point, although that can be difficult during an acquisition or a change in shareholders. I also monitor my team because highly motivated people sometimes need to be reminded to take a holiday or close their computers. I try to practice what I preach.
Physical activities help me switch off because they require my full attention. I played piano as a child and am trying to bring that back into my life. I also attended a surfing camp with friends and found that learning a new physical skill was mentally relaxing, even when it was physically demanding.
Small trips and time with friends and family also help. Even when a full vacation is not possible, changing the environment regularly can make a meaningful difference.
What is inspiring you right now, and why?
I am looking forward to completing the integration following the acquisition we made last year. We have spent much of this year aligning processes and centralizing tools, and we are now approaching the final stage.
I am excited to see both business units operate as one and for my teams to spend more time on forward-looking work and new projects. Finance does not always produce a visible result, so reaching the point where we can say the migration and centralization are complete is especially satisfying.
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Aidana Zhakupbekova serves as chief operating and financial officer of Rydoo, a software company that helps businesses manage employee expenses and accounts payable. She joined the company as CFO almost three years ago before her role expanded to formally include operations.
Zhakupbekova began her career as a credit risk analyst at IBM Shared Services. She later worked across accounting, financial planning and analysis, and credit risk before moving into smaller technology companies where she could take on more responsibility.
During our conversation, she discussed why uncertainty is forcing CFOs to revisit their plans more frequently, how companies can reduce costs without weakening growth, and why successful AI adoption requires clear guidance and human oversight.
