Summary
This research report details the current state of automation in finance, focusing on the challenges and opportunities faced by CFOs in the U.S. The report outlines findings from a survey conducted in April 2023, which highlights that while many companies have begun automating processes such as payroll and expense reporting, a significant number have not fully completed their automation journey. The main drivers for automation include gaining efficiency and better data visibility, with CFOs increasingly involved in technology implementation. The report also discusses the hurdles faced during automation, particularly the integration with legacy systems and the need for cross-functional collaboration. It emphasizes the importance of quantifying the benefits of automation to justify investments and suggests starting with small, manageable projects to build a case for larger changes. The report concludes with recommendations for successful automation implementation, including involving stakeholders early and measuring key results.
