Finance and accounting (F&A) functions and SSCs (Shared Service Centers) are predominantly supported by various technologies that vary in life, level of automation, integration, and usability. These inconsistencies create automation gaps. Several business processes are executed manually or offline through semi-manual processes, including email and spreadsheets, resulting in a lack of business insight, low-quality user experience, and potentially costly errors.
CFOs are constantly challenged with ensuring optimal resource utilization and cost reduction. Globally F&A functions are under substantial pressure across all industries. The vital challenge is to reduce costs and support narrow margins, optimize cash flow, provide quick turnaround and optimal quality, and focus on delivering valuable business insights.
