Finance automation and value creation: A new nexus

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Note from the editor

Process efficiencies are at the heart of finance automation but today CFOs are starting to realize something else: automation can drive value creation, and that can be a game-changer for some organizations. 

That’s what happened at AI-enabled business texting software company LivePerson. In 2019, CFO John Collins leveraged automation to improve his organization’s usage-based pricing process to such an extent sales team members were able to get upsell opportunities they didn’t have before. 

“The ripple effect from this one automation, from connecting and cleaning this one subset of data, had a really profound effect across the organization,” Collins said.

The kind of finance automation CFOs are familiar with has been around for two decades but it’s now evolved to the point where even small and mid-sized enterprises can maximize it. 

And if any finance leaders have remained doubtful that a digital transformation isn’t necessary in their operations, the pandemic surely has made them second guess that view.

To help you get a sense of where finance automation stands and how CFOs are leveraging it, we’ve compiled recent stories from CFO Dive that come at the trend from a range of perspectives. We hope you find the compilation helpful as you look at your own organization's automation needs. 

Robert Freedman Editor

After decades of promise, finance automation coming into its own

Cloud-based SaaS applications are seen as game changers.

• Published Aug. 31, 2021

Financial automation a must-have, CFO says

To stay competitive, companies must begin deploying technologies that can help them scale operations as their business grows, a survey shows.

• Published Aug. 31, 2021

Pandemic exposes need to automate finance function amid limited resources

Finance automation has been practical for most organizations for 20 years, but only about 5% are fully vested in it so far.

• Published Aug. 31, 2021

Lack of automation preventing efficient financial close: CFO survey

• Published Aug. 31, 2021

Machine learning is nearly ubiquitous in finance, even if you don't know it

Many cloud-based finance and accounting functions already use AI that helps produce more accurate numbers than you otherwise could.

• Published Aug. 31, 2021

CFO used automation to turn back-office function into value driver

LivePerson finance chief John Collins brought in top data scientists and engineers to build a data system that increased growth and improved margins.

• Published Aug. 31, 2021

Weed out data before evolving finance tools, planning chief says

Teddy Collins of SeatGeek gave the company's data a hard look before transitioning finance tools from Excel to Google sheets to third-party applications.

• Published Aug. 31, 2021

Finance automation and value creation: A new nexus

Automation is driving value creation and operational efficiencies into finance that can be a game-changer for some organizations. If finance leaders have remained doubtful that a digital transformation isn’t necessary in their operations, the pandemic surely has made them second guess that view.

included in this trendline
  • Lack of automation preventing efficient financial close: CFO survey
  • After decades of promise, finance automation coming into its own
  • CFO used automation to turn back-office function into value driver
Our Trendlines go deep on the biggest trends. These special reports, produced by our team of award-winning journalists, help business leaders understand how their industries are changing.
Davide Savenije Editor-in-Chief at Industry Dive.