The State of Automation in Finance
This release is found in businesswire and summarizes a recently conducted survey of financial professionals across the U.S. and Europe around the subject of automation in financial operations. The survey was conducted on behalf of a fintech specializing in financial automation. This is a topic that many of our clients will find to be familiar since we have recently posted research on the space and also been regularly commenting on the broader landscape in these pages as well. The gist of this referenced study (which readers can download via a link found in the article) is the rapidly evolving role of the CFO (and those in that frame) and how digitization remains a challenging necessity for companies to best manage corporate financial health.
‘Conducted in March, Yooz’s exclusive survey is the largest study of its kind, with over 1,200 Finance and Accounting decision-makers across eight countries taking part, including the United States, France, United Kingdom, Ireland, Spain, Switzerland, Luxembourg and Belgium. “We’re seeing a vastly different landscape this year among finance leaders and their departments compared to last year’s research,” said Laurent Charpentier, CEO at Yooz. “No longer are companies simply attempting to stay afloat – now they’re trying to thrive off of technologies and processes that were necessary adjustments made during the pandemic, and CFOs are being put at the heart of these innovative changes.”  ‘
Perhaps most surprising in overall highlighted results is the seeming continual struggle with comprehensive automation across financial operations, which through the pandemic has been highlighted as a key investment area by corporations. According to these findings, there continues to be a lag in such execution, regardless of the recognized shortcomings and subsequent priority being placed on improvements. Interested readers will want to review the survey and gain some insight as to where they and their organizations may stand in the mix.
‘“There is a lot of work to be done and a lot of responsibility riding on CFOs to find the right technology and people to best support their company’s digital transformation goals,” said Charpentier. “We are confident though that by implementing intelligent, secure automation solutions and reskilling leaders to better prepare for the challenges we’re seeing now, the future of financial departments will be paved for thriving success as we move into a post-pandemic workplace.” ‘
Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group


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