Is Covid-19 a necessary shock to the system for financial automation?
Global Banking & Finance Review
When it comes to transforming finance through the implementation of shared service centres (SSCs), increased use of automation tops the list of key focus areas for many Finance Directors and CFOs. Certainly, that’s what research by Thomson Reuters and SSON – the Shared Services and Outsourcing Network – suggests. In their survey, 74% said automation was a key focus, compared to the next most prevalent factor, analytics, being prioritised by just 47%.
Considering this, why have few finance teams grasped the importance of automation? According to our own research at Winshuttle, 75% of businesses that have adopted shared services, predominantly for finance, have still to realise the full benefits of automating their manual administrative processes.