BlackLine Systems is an enterprise software company that develops cloud-based solutions for the finance function. Patrick Vilanova took over as CFO in March after nearly 10 years at the Nasdaq-listed company. He previously held the position of Senior Director of Audit at PricewaterhouseCoopers.
Global Finance: What was the biggest challenge you faced in your first six months as CFO?
Patrick Vilanova: You’ve been preparing for a long time at BlackLine, but nothing quite prepares you for being in the spotlight. The biggest shift was getting the message across myself. I’ve already mastered internal communications, and since taking over the financial planning role over a year ago, I understand budgeting and forecasting.
But starting March 1 (as CFO), investor relations has become a primary focus: engaging with analysts, stakeholders, and the board more frequently. And of course, I work closely with our CEOs (Theresa Tucker and Owen Ryan). I’ve always had a great relationship with them, but now we talk a lot more. This was the biggest change in my role.
GF: How did you learn to tell the BlackLine story?
Villanova: One of the hardest, but most important, skills as a CFO is storytelling: taking complex data and distilling it into a clear, impactful message. It’s a skill I’m constantly honing. I’ve been learning from seasoned CFOs, reading about best practices, and even rethinking how to use tools like PowerPoint to make the message more understandable and meaningful.
GF: What is the most rewarding part of your role?
Villanova: I’ve always felt part of BlackLine’s success, but now I have my finger on the key. The financial decisions ultimately rest with me, and this responsibility – leading a company with a bright future – is both humbling and rewarding. There’s more pressure now: public speaking, making final calls, and being the person others look to for guidance. But with that pressure comes confidence, and that confidence is a privilege. I’m in this role because I’ve earned it, and I remind myself of that when the heaviness of the job kicks in.
GF: How hard is it to say no?
Villanova: It comes down to storytelling and messaging. I find myself saying no often, but it’s important to explain why. People may not always agree, but understanding your perspective builds trust and brings them into your thought process: key aspects of leadership in this role.
GF: How will AI change your job?
Villanova: Artificial Intelligence is a topic I was passionate about long before I took on this role; I see it as the third major technological shift in finance and accounting. The era of the personal computer and Excel first came in the 1980s. Then came cloud automation shortly after the turn of the century, which BlackLine helped pioneer. Artificial intelligence is the next leap, which will bring deeper automation and less human intervention.
AI is already providing predictive financial insights and forecasts. It’s like adding a fifth person to your finance, planning and analysis team that works faster and cheaper. In accounting, it is still at an early stage, where simple rule-based tasks such as booking entries and making reconciliations are handled. But as we learn from more data and how accountants make decisions, their impact will grow.
Adoption will take time, especially in accounting, where accuracy must be absolute; 95% accuracy is 100% error in our world. Once AI proves consistency and reliability, it will be significantly more transformative than Excel once it proves reliable in the industry.
GF: What would you suggest to someone seeking a CFO position?
Villanova: You’ll need more than just solid accounting and finance basics and leadership skills; Those are table stakes. The real differentiators will be data and AI expertise. As automation takes over traditional tasks like forecasting and modeling, the CFO role will require a deep understanding of the underlying technology. In 10 to 15 years, the financial landscape will look very different, and those who are not proficient with data and AI will struggle to keep up.
GF: What keeps you up at night?
Villanova: What keeps me up at night is the disruption: the breakthrough I don’t see coming. I spend a lot of time studying AI, new technologies, and what small, agile companies are doing. I also worry about the skills we may lack when the next shift comes and always wonder, what is the next disruption, and are we prepared for it?
