Ending the Automation Insanity

Automation is nothing new to the Finance and Accounting (F&A) function. Typically, it’s implemented through specialized point solutions which automate individual processes. Whether addressing elements of Accounts Payable, Record to Report/Financial Close or Order to Cash, this piecemeal, pain relief-first mentality creates automation insanity: expecting individual solutions to deliver an end-to-end result.

The actual outcome? Complexity and manual effort are increased, which is the exact opposite of the original goals of automation. Consider how you buy lunch for a team offsite meeting. Do you order from 10 different restaurants and make sure you provide everyone’s favorite dish? Probably not – you call one location to get what your team actually wants: great food, delivered on time for a shared meal. Innovative F&A departments are taking a similar approach by focusing on overall business goals and evaluating holistic technology solutions to match.

This report will demonstrate how automation solutions can be delivered by eliminating a tactical approach. First, it will discuss the “insanity” of applying specialized solutions to siloed problems and expecting holistic results. Next, a strategy checklist will line out everything F&A should consider before the purchasing and subsequent rollout of an end-to-end automation solution. Finally, a case study will show how one enterprise drove impressive results from a strategic approach