Lessons from our CFO: Turning finance from reactive to strategic

The role of the CFO isn’t what it used to be. Today’s finance leaders are expected to be strategic partners, steering the business with insight, guiding growth decisions, and keeping everything aligned across departments, entities, and markets.

But for many, the reality still looks like this: Siloed data, too many systems, constant admin, and not enough time to think strategically.

Konstantin Dzhengozov, Payhawk’s CFO and co-founder, knows the grind all too well. He’s been in the roles where financial data lived in spreadsheets, closing the books meant late nights, and automation felt like wishful thinking. That firsthand frustration is exactly what pushed him to help build Payhawk — a platform designed to remove those everyday pains finance teams know too well.

Today, Konstantin leads a finance function that’s fast, efficient, and deeply connected to the wider business. We sat down with him to answer some of the most searched questions finance leaders ask about modernising their teams — and to see what others can learn from his playbook.

1. How can I get all my spend data in one place and leave spreadsheets behind?

You can’t lead strategically if your data lives in spreadsheets. Payhawk gives finance leaders one real-time source of truth — and that’s exactly what Konstantin (like many other finance leaders) was missing before.

In previous roles, Konstantin spent too much time untangling information, manually consolidating reports from different departments, digging through bank statements, and chasing late expense claims. That kind of setup doesn’t just waste time. It delays decisions, introduces risk, and makes it harder for finance to lead with confidence.

He explains:

In the past (before Payhawk), I worked in finance teams where assigning GL codes or tracking payments took hours…This meant visibility was limited, and we were always reacting to problems after they happened.

That’s why Payhawk was built to unify spend data in real time, from expenses to supplier invoices, so finance can make decisions faster, with confidence.

At Payhawk, that changed. He helped design the platform to bring everything together (from expenses and corporate card payments to approvals and procurement) in one real-time system. That means fewer emails, no disconnected tools, and instant access to the data that matters.

2. What tasks can I automate so my team can focus on strategy?

Automation is how finance earns back the time to think. Not every task in finance moves the needle. Some drive the business forward (think, planning, forecasting, investing). But, others just keep the lights on, necessary, but tedious and mundane. Yet for too many teams, those routine tasks still dominate the day.

Think:

• Chasing receipts
• Verifying spend data
• Matching transactions to GL codes
• Flagging policy breaches

These were the kinds of problems Konstantin used to face over and over. So, when building Payhawk, he ensured automation was core to the experience.

Take our AI Financial Controller Agent, for example, it handles tasks like chasing receipts and flagging anomalies. It saves hours of manual work each week and keeps our data clean and up-to-date. As internal users of our own product, we built Payhawk to solve real finance pain, and when it came to applying AI, it was no different.

At Payhawk, the AI Financial Controller Agent now handles tasks like chasing receipts and flagging anomalies. That means fewer manual hours, cleaner data, and more space for high-value work like scenario planning or investment analysis.

It’s not just about efficiency. Automating the admin frees up time for CFOs and controllers to focus on more valuable work, like partnering with department heads, analysing performance trends, and identifying opportunities to drive the business forward.

“Everyone on our finance team has worked in traditional finance roles before joining Payhawk — where hours were lost to manual admin and there was no real-time visibility into spend. But here, at Payhawk and by using Payhawk, we get one integrated platform that handles everything from spend tracking to reconciliations. It’s completely changed the way finance people work.”

That shift doesn’t just improve productivity — it reduces risk, eliminates bottlenecks, and raises the bar for what finance teams can deliver.

3. How can I see where my business stands financially, right now?

Real-time visibility keeps finance ahead of the curve, but the truth is, finance teams often work with a time delay. You spot spend issues after they happen. And you get the full picture only when the month ends. But by then, it’s already too late to course-correct.

In Konstantin’s earlier roles, that delay was a constant pain point.

“In past finance roles? I’ve had no real-time visibility. I’d find out about a budget issue weeks after it had happened… usually when it was already too late to do something about it,” Konstantin says. “But with Payhawk, our spend insights update in real time. And discrepancies are flagged — so we can take actions before problems grow.”

Real-time insight became a non-negotiable when designing Payhawk (and considering how it would slot into a wider finance stack). Now, Konstantin can track performance across departments and entities instantly. If spending spikes, he sees it right away. If something doesn’t align with policy, it’s flagged. This level of visibility empowers his team to act early — not reactively.

They call it dogfooding… when a company uses its own tools! And with Payhawk, it just makes sense. We have real-time tracking and AI-powered features, and we can now spot potential issues before they become problems. We proactively address any issues with spending to make sure we can keep steering the company towards growth.

It’s the difference between using your car's navigation via a map that updates in real time versus one drawn three weeks ago that misses roadworks, new options, and more.

4. Can we scale without making finance more complex?

Growth often brings more people, more systems, and more headaches. But Konstantin believes that financial complexity shouldn’t grow just because your company does.

If your finance function gets messier as you scale, it’s a sign your tools aren’t keeping up.

At Payhawk, he helped create a comprehensive solution to support multi-entity finance operations from day one — so it’s just as effective whether you’re managing five employees or five international subsidiaries.
That includes built-in support for multiple currencies, native ERP integrations, group-level visibility, and scalable approval workflows. The result? Growth doesn’t break the system.

5. How can finance become a true business partner? (Not a bottleneck)

“Finance adds the most value when it collaborates, not controls,” explains Konstantin. Yep, saying that used to be controversial, but at Payhawk, we’re not talking about giving away ‘control.’ We’re talking about creating freedom within a framework by giving teams solutions (including cards and budgets that feature in-built controls, limits, approvals, and more).

The other important parts to becoming collaborative? Time and visibility. Finance teams need to get the vital but mundane tasks off their desks so they can focus on collaborating and working closely with other teams. And they need up-to-the-minute data so they can make informed decisions and suggestions.

Konstantin’s vision for Payhawk was to build a finance system that works with the business, not against it.

That means enabling collaboration between finance and other departments, whether it’s working with the CMO to analyse marketing ROI, helping operations manage supplier spend, or partnering with the CEO on investment decisions.

“We track the performance of different departments, assess investments, and make informed decisions faster. We have the clarity and control we need to support growth — not slow it down.”

Instead of being the team that says “no,” finance becomes the team that helps other departments say “yes,” but with clarity, boundaries, and confidence that spending won’t slip.

6. Why do my tools create more work — and how do I fix that?

Before Payhawk, Konstantin recalls using plenty of finance tools that made big promises, but still required endless reconciliations, data exports, or manual corrections.

He saw the same frustration in other teams: great dashboards that couldn’t integrate with ERPs, or spend tools that only worked for one entity.

That’s why Payhawk was built to work with the rest of your stack — not against it.

Payhawk integrates with accounting systems like Xero, ERPs like NetSuite, HR platforms, VAT reclaimers, travel platforms, and more, so data flows cleanly without errors. Approval flows are customisable. Policies are built in. And reporting actually reflects what’s happening in real time.

Finance teams shouldn’t have to work around their tools, keep switching screens, or endlessly upload data between systems. Not when there’s a better way (= Payhawk!)

7. How can I lead my finance team with complete clarity?

When your time is tied up in manual work, complexity, and back-and-forth, there’s little room left for strategy.

But modern finance leaders are expected to do more. Drive better decisions. Influence growth. Anticipate risks.

And that starts with clarity:

• Clear processes
• Clean data
• One place to manage spend
• Instant visibility into performance

Konstantin didn’t just imagine a better way of working — he helped build it. And today, he leads a finance function that helps the business move faster, not just stay compliant.
For CFOs, controllers, and finance leaders alike, that’s the real unlock: regaining the time and confidence to lead.

Want to see how it could work in your organisation?

Want to see how finance leaders are already putting this playbook into action? From Astrid & Miyu, who streamlined global spend and gained real-time visibility, to State of Play Hospitality, which now analyses venue performance through smarter spend categorisation, with results that speak for themselves. Explore how leaders like Konstantin (and our customers) are simplifying spend, automating admin, and staying ahead when it comes to strategy: Check out our customer stories.