Automation in Finance Benchmark Report

From invoice processing to financial close, automation continues to reshape how finance teams work. This 2022 benchmark report reveals how 213 SAP professionals are approaching automation across financial processes, and why over half remain dissatisfied with their progress.

Where organizations are investing today

Finance leaders are prioritizing financial reporting and dashboard automation, accounts payable invoice processing, and bank integration. The need for real-time visibility has never been greater. With disruption from supply chain challenges, inflation concerns, and remote work models, finance teams need fast access to accurate data to support better decision-making.

Yet many organizations struggle to deliver that visibility. Complex ERP landscapes, disconnected source systems, and manual processes create barriers to quality data. As one survey respondent noted, making automation work across disparate systems evolved over decades is difficult without thorough data cleansing.

The gap between leaders and laggards

Organizations using robotic process automation with artificial intelligence and machine learning (what this report calls intelligent automation leaders) are seeing stronger results. Seventy-seven percent of leaders report satisfaction with their financial automation approach, compared to just 32% of laggards.

Leaders prioritize complex processes like group reporting, financial planning and analysis, and compliance monitoring. They leverage SAP S/4HANA capabilities and integrate automation solutions deeply with their ERP systems. Laggards focus more on basic order-to-cash and general ledger activities.

What makes automation challenging

Group reporting and intercompany reconciliation top the list of most difficult processes to automate, followed by financial planning and analysis, and financial reporting and dashboards. These processes demand high-quality data from multiple sources and robust integration.

Getting executive support and funding also ranks as a major challenge. Organizations need people who deeply understand current financial processes, along with a clear plan for eliminating paper-based workflows and standardizing data formats before automation can succeed.

Building your automation roadmap

Start with processes that improve cash flow visibility: invoice management, accounts receivable, and sales order processing. These deliver quick returns and build momentum. Then move toward more complex initiatives like financial close automation and real-time analytics.

Consider your SAP S/4HANA migration as an opportunity to rethink and automate finance processes from the ground up. Engage finance leaders early, invest in training and change management, and work with partners who have proven experience in your industry.

The report also highlights growing interest in what-if simulations for financial planning and analysis, with 44% of respondents evaluating these tools. In an uncertain business environment, the ability to model scenarios and test future conditions has become essential for effective planning.