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- Nov 23, 2022
- 1 min read
How to Future-Proof and Modernize the Finance Department
Here’s a closer look at how technology can help finance teams reimagine their workflows.
Cameron White - CFO.com
"Many finance professionals have come to expect automated workflows and may look elsewhere if organizations are digital laggards."
In this article:
1. Companies around the world are projected to spend $1.8 trillion this year on digital transformation, an increase of 17.6% over 2021. These investments are expected to sustain a pace of growth for the next five years, primarily attributed to the benefits of digital transformation efforts, such as resiliency and cost-cutting efficiencies.
2. The benefits of automating paper-based, error-prone financial processes and digitizing financial data extend far beyond the department alone, providing efficiencies and better visibility to help future-proof the entire organization.
3. Technology reduces friction by automating tasks around processing invoices and making payments, which can save significant time and money while freeing teams for more strategic work when their organizations need them most.
4. As organizations fight to hold onto talent and attract new hires, many finance professionals have come to expect automated workflows and may look elsewhere if organizations are digital laggards.
Read the full article to take a closer look at how the right technology can provide transformative relief during these troubling times while also helping organizations prepare for whatever lies ahead: https://www.cfo.com/technology/2022/11/future-finance-department-automation-digital-transformation/
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