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Why automating finance is just an integration game

“For the next several years, leading technology providers must play a leading role in helping enterprises navigate the current storms of disruption,” says analyst firm IDC, promoting its forthcoming round of crystal ball predictions for 2023. No pressure then.

Of course, we’ve known for some time now that technology can be a differentiator. As Deloitte suggests in its report Automation with intelligence, “Organisations that are not afraid to embrace digital disruption are more likely to survive and thrive in the world of perpetual technological change”. Throw economic change, political instability and skilled worker shortages into the mix and we might be onto something.

It all centres around building organisational resilience, through improved decision-making and business process agility capable of reacting quickly to changing needs. McKinsey puts the onus for this on chief financial officers (CFOs), claiming “finance leaders are deeply involved in determining how businesses adapt to significant changes in how work gets done – particularly in places where digital and finance intersect”.

In truth, it’s difficult for CFOs and technology leaders to know where to prioritise investments that will have the biggest impact. The reality is that improving processes and integrating financial data into tools that enable improved planning and decision-making are increasingly key to business success. Given the current economic pressures and unprecedented skills shortages, this is clearly not an easy task. It demands investment and almost certainly calls for increased automation.


Computer Weekly


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