Is the future of finance in automation?  

5 February 2021:

The global pandemic has caused mass disruption for people working in all job functions, in all businesses, across every sector. For the finance team especially, new business-critical decisions on when and where to spend capital to keep a business afloat have become par for the course in the world of COVID-19. Although the focus has been on reacting with agility to the new normal’s challenges, the usual day-to-day tasks of managing daily cash flow, customer transactions, and employee payments still need to be considered.

Technology that enables automation has increasingly been at the heart of many finance teams’ strategies. This was true before the pandemic but even more so now. Automation takes the pressure off finance professionals by taking over many repetitive administrative tasks that take up time but don’t necessarily add meaningful value, aid in business-critical decision making, or require their hard-earned skills.

Automation-powered technology and applications are becoming commonplace, forming an essential part of many digital transformation strategies. Automating back-end finance processes ensures data is moved to where it needs to be, quickly and efficiently, while eliminating the potential for human error and the time delay of human input. As a result, finance teams get more done, faster and with greater confidence.

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Source: Global Banking Finance

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