Organizations worldwide are changing their operations to keep up with fast-paced digital environments. The Office of Finance is no exception as they look to increase productivity, reduce unnecessary stressors, and attract top talent. As organizations invest in their financial transformation, they must also invest in their team and their full potential. With automation, mundane tasks are a thing of the past, and teams can feel empowered by focusing on strategic and challenging work.
Finance teams have been under increased pressure to provide business-critical data analytics and insights in real time while also handling their already intensive workload. Accounting and finance teams are some of an organization’s most intelligent and skilled professionals. Yet, they are not being used to their full potential because these low-value yet critical tasks burden them.
Given this, we must understand how current and new staff will drive and interact with our current processes and technology deployed.
Reduce Unnecessary Stressors
Business is moving faster than ever, and organizations expect teams to accomplish more with the same or fewer resources. This growth can strain finance teams as they take on more complex data and compliance requirements. 65% of respondents in our recent benchmark report noted that the time spent managing the data is a burden and leaves them with little time to analyze the data and provide meaningful insight.
Delivering high-quality data on a short deadline is becoming increasingly difficult for departments operating with error-prone manual processes, often leading to stress and burnout. This is where automation makes a difference, keeping functions organized and reducing risk—allowing the finance team to support decision makers both inside and outside the company, who rely on financial statements that are both timely and accurate.
Attract Top Talent
Today’s top talent is looking for organizations leaning into technology and adding value to their roles. With a limited amount of finance talent, individuals have options. They aren’t choosing a position where they are manually managing spreadsheets or spending hours on transaction matching but rather to play a strategic role in an organization and grow their skillset.
By taking the steps towards digital transformation, companies gain a competitive advantage over those who aren’t and can attract bright talent with higher success.
The world is changing, and it’s time to empower your finance team.
Finance teams are critical to the well-being of your organization, and it is time they get the tools they need to succeed. Download our eBook to discover three components of financial transformation.
Written by: Lauren McCrohan