It’s a familiar scene: With month-end closes on the horizon, weary accountants in the midst of manual calculations and redundant processes wonder: Why didn’t my company automate? In light of growing demands to streamline accounting practices, IMA partnered with BlackLine to produce a study on process automation in accounting and finance.
Two-thirds of the respondents said they rely heavily on spreadsheets, increasing both time spent on financial statements as well as the risk of inaccurate results.
Only 20% of those surveyed were very satisfied with their current closing process, and only 28% completely trust the accuracy of their financial reporting data.
Only about a third of the companies surveyed have automated some part of their accounting processes in the last year.
To learn more about the research findings and how employees can discuss the ROI of automation with company leaders, download the report.