Finance leaders are concerned about unreliable data and manual processes.
The period-end closing process in particular is still poorly equipped in many organisations
This puts pressure on the financial team and leads to a lack of confidence in the resulting numbers, writes Olivier Cornet, UK country manager at Sixthfin Reliable data is the key to successfully implementing technology like AI, so how can finance leaders relieve the burden on their teams and improve their data reliability? Sixthfin asked over 300 in the UK about the challenges and how they see the future. The report is independent and representative of mid-sized and large UK companies.
Financial teams cite the stress of the closing workload. More than 90% of finance leaders highlight the significant impact of closing on team motivation. Deadlines are another major source of pressure in 96% of companies, as are the quality of the tools available (93%), constraints linked to parallel projects (88%), the unreliability of data (86%) and the lack of available time for analysis (86%).