As finance teams consider strategies to stay competitive and increase their ROI, they’re exploring different ways to gain a foothold in their respective industries. One common theme across the board for teams looking to stay ahead of the curve? Finance automation. We’re excited to announce our new report, “Finance Automation: The Key to Finance-Led Growth” is live today. The report shows that finance automation platforms are becoming a necessity for finance teams looking to have an impact and differentiate themselves from the competition.
A new era of finance automation
While the term “finance automation” isn’t brand new, it has come to encompass a new wave of advancement in finance functions. Finance automation is the utilization of technology to replace manual tasks and processes. It eliminates tedious, time-consuming work, such as manually uploading receipts, in favor of meaningful, strategic projects that can actually move the needle. Companies equipped with powerful financial operations (FinOps) and finance automation are able to save time and money, and set themselves up for finance-led growth.
How our report is helping finance teams achieve more
Our report has the information finance decision makers need to cut down on manual work and focus on strategic initiatives. So their teams can finally work on the business, instead of just in it.
Our key findings
In our report, we asked 500+ finance leaders about how they’re viewing finance automation in 2022. From how they’re investing in finance automation functions, to the biggest concerns about implementing this technology, our report reveals valuable insights, including:
- Despite automating, only half of all finance leaders have real-time visibility into spending: 91% of finance leaders think real-time visibility is critical, but only half have it.
- Most finance leaders don’t feel confident about the ability to measure their spend: Nearly 6 in 10 finance leaders don’t feel confident about their organization’s ability to measure wasted spending.
- Over half of finance leaders think finance automation gives them an advantage in productivity: 61% believe that increased productivity from automation has created a competitive advantage for their organizations.
- Most finance leaders see a greater need for processes that can support additional decentralized spending: 87% say there is a greater need for processes that can support more decentralized spending while also maintaining cost control.
Get the full report
Download the full report today. With insights from over 500 finance leaders and CFOs, our finance automation report will give your team the data and tools necessary to stay ahead of the competition.