Overcoming Operational Hurdles: The Role of Technology in Finance Management

UK finance teams face a fundamental challenge: evolving from traditional administrative roles to become strategic enablers of business growth. New research from National Technology News, sponsored by Bottomline, reveals how operational barriers are constraining this transformation.

The study identifies three organisational archetypes – Traditional Operators, Transformation in Progress, and Digital Leaders – each facing unique modernisation challenges.

Key findings include:

• 25% of finance professionals spend over three-quarters of their time on automatable tasks
• Only 11% of organisations have automated more than 90 per cent of their finance processes
• Just 34% of finance teams play a proactive role in business strategy
• 38% review payment processes infrequently or lack formal review processes
• 47% still rely on manual bank portal consolidation for cash visibility

The research exposes how operational inefficiencies directly impact strategic decision-making capabilities, from payment processing delays to fragmented cash management systems.