Automation can Curb Finance Burnout

Faced with recent layoffs, economic headwinds and a documented shortage of upcoming accountants, talent retention challenges remain a main concern for finance leaders, a study by spend optimisation platform Emburse found.

Focusing on digital transformation efforts could help finance leaders better tackle talent challenges, removing time-consuming tasks from employees’ workloads while also helping them drive further value for the business, said Adriana Carpenter, CFO for Emburse.

“It’s become such a catchphrase, but it absolutely is critical, not just for the success of the business, but for the success of your employees,” she said in an interview on the importance of digital transformation.

Headwinds exacerbate talent challenges

Market challenges still topped CFOs’ concerns, narrowly beating out process and talent worries, but finding and retaining skilled finance employees remains a source of worry for leadership especially as they manage through economic uncertainty. Nearly all — 95% — want to avoid drastic layoffs or changes to their department structure, Emburse found, and instead are looking to automate previously manual processes to help ease employees’ workloads.

Read the full article at CFO.Dive here.