U.S. Enterprises Move to Automate Their Finance and Accounting Operations

Enterprises in the U.S. are increasingly using outsourcing providers to automate their finance and accounting operations, with robotic process automation becoming an integral part of corporate finance functions

The 2020 ISG Provider LensFinance & Accounting Digital Outsourcing Services report for the U.S. finds the F&A outsourcing market in the country has reached maturity as U.S. enterprises have moved from outsourcing non-critical functions to transformation and consulting projects.

Finance and accounting (F&A) processes are ripe for bot deployments and robotic process automation (RPA), the report says. About 83 percent of enterprise finance functions have deployed RPA, the report finds, and nearly 95 percent are experimenting with or have deployed machine learning technologies in their F&A processes.

Many U.S. enterprises are also using artificial intelligence-powered analytics for insights into their finances, the report adds. “Today’s finance organizations are looking to become more proactive by leveraging technology to make data-driven decisions quickly,” said Jan Erik Aase, director and global leader, ISG Provider Lens Research. “With enhanced analytical technology, the ability to gain valuable insights from data, identify financial pain points or decide on a course of action are all within reach.”

Read more here: U.S. Enterprises Move to Automate Their Finance and Accounting Operations

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