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Drake Star Sector Insights: The Office of the CFO Software

In our inaugural Office of the CFO (OCFO) report, we’re diving deep into one of the most dynamic and strategically relevant areas in enterprise software. Backed by the expertise of our global team and in collaboration with Stax Strategy Advisors, this report provides a comprehensive look at the technologies and trends shaping the OCFO software landscape in H1 2025.

The modern CFO is no longer a number-cruncher but a strategic value creator mandated to drive margins, actively reshaping the finance function to enable data-driven decision-making and sustainable growth. We estimate global spend on OCFO software solutions at $65-75 billion in 2024 and growth at 12-14% p.a. through 2029, driven by accelerating adoption and the imperative to digitize / automate workflows.

Today, the global OCFO solution landscape is fragmented and partially still on-premise. Consolidation and cloud-migration are well underway, driven by CFOs demanding more unified and cloud-native solutions, and investors prioritizing OCFO in their current playbooks.

Key insights include:

  • Secular growth outlook: 12-14% CAGR in OCFO software spend, underpinned by long-term demand drivers such as digitization and automation of the financial function, CFO’s mandate for strategic value creation, and heightened requirements for compliance and reporting transparency.
  • High growth categories: FP&A, benefiting from increasing demand for agile scenario planning and integrated performance management, and equity management, fueled by continued private markets expansion and complex cap tables, emerging as mission-critical, SaaS-native tools.
  • AI as adoption catalyst: GenAI and ML now enable automation in judgment-intensive workflows such as FP&A, treasury or tax, driving vendors to implement AI-native tools - with buyers expecting it, too.
  • Continued platform consolidation: CFOs increasingly want unified platforms rather than fragmented point solutions. Integrated suites that combine core financial functions, unify spend management, or integrate order-to-cash cycles simplify workflows. Moreover, core ERP players are seen to expand into adjacent finance modules.
  • Sustained high deal activity: Over 150 OCFO M&A transactions in LTM June 2025, including highly visible sponsor-backed platform and P2P transactions, transformative strategic acquisitions plus a number of prominent growth financings. OCFO ranks high in investors’ playbooks, which are willing to offer premium valuations for differentiated assets of scale.

This report covers evolving enterprise demands, regulations, the solution landscape that CFOs can leverage, and where investors are placing their bets.

Download the full report below to explore what’s reshaping the OCFO software ecosystem:

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