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Global Finance Teams Falling Behind in Digital Transformation, According to Report from insightsoftware and Hanover Research

Jet Global

July 21, 2022 – insightsoftware , a global provider of reporting, analytics, and performance management solutions, today launched its annual Finance Team Trends Report. To learn more about the challenges finance teams face, download the full report: Finance Teams Trends Report. RALEIGH, N.C.

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2023’s Top Trends for Finance Teams in Europe, the Middle East, and Africa

Jet Global

Chief among them are: 35% Budgetary restraints 27% Raised prices 26% Lack of skills in team 25% Manual and time-consuming processes 23% Adoption of New Technology This year’s survey also highlighted a significant drop in teams around the world expecting to grow in 2023 down to 64%, compared to 73% in 2022. Request a demo today.

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insightsoftware Ranks in the Gartner Magic Quadrant for Financial Close and Consolidation Solutions

Jet Global

To be considered, product capabilities must include close management, financial consolidation, financial statement reconciliation and journal entry processing. Optional capabilities include financial reporting risk management and disclosure management.

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Agility for Strategic Decision-Making: A Finance Team Imperative

Jet Global

Other related tasks that saw big jumps in prioritization for finance were “management of company’s investments,” “internal risk management,” and “short-term business strategy,” all of which carry strong strategic importance. Technical accounting (up 13 percent from 72 percent in 2021 to 85 percent in 2022). Download Now.

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Top 5 Trends Impacting Finance Teams in 2024

Jet Global

Generative AI Since ChatGPT was released in November of 2022, generative AI has exploded onto the global market. According to our recent Report on Operational Reporting , 98% of organizations surveyed distribute reports via a static PDF, and 95% generate either all or mostly static reports.

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