We’re overjoyed to bring you our first ever report on the software and strategies that power finance teams. Thanks to the survey respondents, the report not only covers software choices but also creates a benchmarking structure for finance departments to evaluate their systems. Trends quickly emerged as we unpacked the data. And while some trends presented a new or unique perspective, one macro trend has been mentioned numerous times in research by the likes of PWC, Deloitte, EY, among others is finance automation. Finance automation is not robots taking your job. Finance automation means spending less time on tedious, manual tasks, and more time identifying and acting-on strategies to increase your bottom line.
The Finance Stack of Top Performing Companies
Speaking with survey respondent and customers, we heard that move towards finance automation requires easy-to-use, best-of-breed software that connects their data through simple, but quality, integrations. Moving away from downloading CSVs, post-processing via Excel, and dirty data is crucial in an automated future. Other departments are already benefiting from automation: marketing (Hubspot, Marketo), software engineering (CircleCI, Kubernetes), sales (outreach.io, ZenProspect), HR (Greenhouse, Workday), and many more. It’s the the finance team’s turn. This shift towards finance automation requires an openness to technology, experimentation, and a desire to build systems, not departments. The reward is a more efficient finance department focused on initiatives that the create significant impact. Innovation is not straightforward, so these changes can create complexity and stress. We here at Teampay are with you to tackle any challenge that lies ahead.