Finance Automation Tips to Boost Growth in 2023

Finance automation has the potential to accelerate growth. Deloitte and McKinsey & Company have already made significant strides to automate their financial processes, suggesting that their CFOs and finance leaders understand what functions within their departments can benefit from automation to facilitate future growth, planning, and crisis management. One of these important breakthroughs comes from a recent consensus on the value of employing financial automation to streamline internal organization operations.

According to a recent McKinsey survey, developers will be more focused on their applications' capabilities rather than the complexities of building the apps. Share of new application development employing low-code/no-code by 2025 (increasing from 25% in 2020)

Finance teams have more time to focus on tasks and responsibilities that deserve their full attention thanks to automation tools like Wrk's. In particular, task automation using RPA-powered workflows or API connections can give finance teams more time to upskill or reskill their personnel. Finance automation allows teams like yours to control and adapt the automated processes required for real-world business processes without relying on busy IT teams to manage the technology.

Wrk's multidimensional approach to automation can bring efficiency to finance teams ranging from early-stage start-ups to established corporate operations. You can be confident that Wrk can automate repeated processes, decision-making procedures, and item generation requirements accurately and efficiently using Wrk.

"Staying the course" in the face of new expectations could be costly for finance teams. The capacity of automation to considerably improve performance for finance teams has established it as a sensible investment for the foreseeable future.

Adopting an automated platform such as Wrk's can assist finance team members in producing financial reports and presentation materials. Finance automation offers high-talent team members more time to contribute to the management and strategize operational development when they are freed up from completing monotonous and time-consuming chores.

Have you considered where your team might begin incorporating finance automation into its existing processes? From financial reporting to cashflow management to tax and accounting processes, automation can help finance executives free up time to hone their focus on strategy and growth.

Did you know there are four common processes your company can streamline using Wrk? Read about them in our latest blog post: Finance Automation Tips to Boost Efficiency 2023.