Data and Tech
Doing More With Less: 6 Tips for Automating Your Finance Operations
Learn what the experts have to say about optimizing and automating your finance operations—by starting with the right people, process and technology.
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Automation isn’t just a competitive edge anymore—it’s the baseline for staying relevant. Without it, businesses risk falling behind in efficiency, innovation and advancement. Salesforce reports that 74% of employees using automation say it helps them work faster. It’s transforming operations, decision-making and growth across industries.
Automation statistics reveal that businesses are boosting productivity, cutting costs and improving employee satisfaction by automating routine tasks. This shift frees up time for strategic, high-impact work, reshaping the workplace and driving competitive growth.
As the following statistics illustrate, automation’s role in achieving efficiency and innovation has never been more crucial. We’ll examine the rapid growth of automation in business and its effect on various departments and workflows.
We’ll also highlight some of the benefits and challenges automation presents and explore how AI and automation are changing the future of work.
Roughly 60% of companies currently use automation solutions tools in their workflows. (Duke University)
Up to 80% of the finance department's transactional work could be automated. (Accenture)
Payment automation allows businesses to free up over 500 hours annually in their finance departments. (American Express)
HR automation has seen a dramatic 599% increase in the last few years. (SHRM)
Many marketing leaders automated their team’s processes in 2024, with 58% automating email, 49% social media, and 33% content management. (Statista)
Automation frees up 82% of sales teams to focus on building stronger client relationships. (Salesforce)
Ninety percent of IT staff credit automation for improved cross-team collaboration. (Salesforce)
Despite its potential, 85% of CFOs face challenges leveraging technology and automation. (PwC)
Eighty-eight percent of employees using automation tools trust their accuracy and reliability. (Salesforce)
Eighty-eight percent of employees report higher job satisfaction, and 84% report greater company satisfaction as a result of using automation to streamline tasks and reduce workload. (Salesforce)
The rise of business automation is transforming core functions such as finance, operations and business intelligence, streamlining everything from payroll to supply chain planning. The following statistics showcase how automation drives productivity and delivers measurable financial benefits across organizations.
The majority of executives (80%) believe automation can be useful across all business decisions.1
A 2024 Duke University study found that almost 60% of businesses they surveyed have already implemented automation solutions.2
Fifty-eight percent of CFOs are allocating more resources to technology initiatives compared to a year ago.3
Twenty-eight percent of CFOs are leveraging artificial intelligence (AI) to automate forecasting, and another 39% plan to adopt it within the year.4
Over 40% of CFOs are prioritizing technology adoption, such as automation, to improve their team's skills and efficiency.3
As many as 300 million full-time jobs could be automated due to the emergence of new AI systems.5
Most supply chain professionals view automation positively, with 70% citing improved retention and over half recognizing its potential for upskilling and job creation.6
Corporate strategists estimate that 50% of strategic planning and execution activities could be automated, while only 15% are currently automated.7
Gartner forecasts a substantial rise in network automation by 2026, with 30% of enterprises automating more than half of their network activities, compared to less than 10% in mid-2023.8
As businesses prioritize efficiency, cost reduction and strategic focus, automation emerges as a critical driver of growth and innovation.
Automation is revolutionizing various business functions, from finance to IT. By streamlining processes and enhancing employee efficiency, automation is driving significant improvements across the board.
Accenture estimates that up to 80% of the finance department's transactional workflow could be automated.9
Due to payment automation, businesses freed up over 500 hours annually in their finance departments, averaging 9.9 hours per week.10
Accounting and finance employees are the most hesitant to adopt automation, with only 66% feeling positive about it initially, compared to higher rates in IT, HR and sales—but this jumps to 89% after implementation, according to a Salesforce study.11
Eighty-four percent of finance staff say they’re able to make decisions faster thanks to automation tools.11
Ninety-three percent of CFOs have experienced shorter invoice processing times thanks to digital technologies and automation, while 80% of those with ongoing delays point to the lack of AI automation as the primary factor.12
The global financial automation market is projected to grow at a compound annual growth rate (CAGR) of over 14.2% from 2024 to 2032, reaching $20.7 billion by 2032.13
Automating routine tasks such as financial consolidation, reconciliation, invoice processing and data aggregation allows finance teams to minimize errors, free up time for deeper analysis, explore more potential scenarios and collaborate strategically with other business units—giving them a significant competitive edge.
A significant portion of marketing decision makers automated their processes in 2024, with 58% automating email, 49% social media and 33% content management.14
The global marketing automation market is projected to grow from $5.65 billion in 2024 to $14.55 billion by 2031 at a CAGR of 12.55%.15
Over two-thirds of marketers believe expanding marketing automation is essential for attracting and retaining customers.16
Despite 88% of small and medium business marketers recognizing increased customer demands, 70% struggle to leverage data to enhance performance.16
A 2024 survey found that 41% of marketing decision makers have already significantly automated their customer journeys, with the remaining 59% partially automated.17
Seventy percent of marketing leaders plan to increase their investment in marketing automation in 2025.18
Marketing automation helps businesses drive growth and improve customer engagement. By automating repetitive tasks such as lead scoring, customer segmentation, email campaign scheduling and social media posting, marketers can optimize their campaigns, improve customer experiences and achieve significant ROI.
Leveraging data-driven insights allows them to make smarter decisions, create more personalized experiences and ultimately, drive higher engagement and conversions.
HR automation has seen a dramatic 599% increase in the last few years, with HR bots accounting for 39% of employee automations.19
Over 40% of HR professionals expect to broaden automation use by 2026.19
Nearly all HR staff (95%) expressed positive feedback after using automation tools, a substantial increase from the 72% who were initially positive.11
Fifty-three percent of HR employees reported seeing a reduction in day-to-day menial tasks thanks to automation solutions.11
Over three-quarters of HR leaders believe the timely adoption of AI automation tools is crucial for organizational success.20
With 56% of HR leaders acknowledging a gap between their current tech stack and future needs, user-friendly automation solutions are key to successful implementation.19
As the demand for skilled labor rises, automation offers a strategic solution to address workforce challenges and drive organizational success. By automating routine tasks such as payroll processing, benefits administration and employee onboarding, HR teams can streamline processes, improve efficiency and enhance employee satisfaction.
The most common AI tools among sales professionals include generative AI for content creation (47%), automation tools (43%) and data-driven insight tools (36%).21
Eighty-two percent of sales employees report increased time for customer relationship building due to automation.11
Nearly three-quarters (74%) of sales professionals leveraging AI believe AI/automation tools will significantly reshape their roles in 2025.21
AI and automation tools are saving sales professionals an estimated 2 hours and 15 minutes daily by automating tasks such as data entry and scheduling.21
AI-based automation can streamline sales processes, saving 30 minutes to 1 hour on prospect outreach, 1–2 hours on lead qualification, and 1–2 hours on data analysis.21
Ninety-two percent of sales and marketing staff had positive feedback after using automation tools, compared to the 72% who felt positively about them before trying them.11
Fifty percent of AI-using salespeople predict that most of their software will have integrated AI or automation capabilities by 2030.21
Seventy percent of AI-using sales professionals report increased response rates from AI-powered prospect outreach.21
Sales teams can increase productivity, improve efficiency and drive revenue growth by streamlining repetitive tasks such as order processing, contract management, sales reporting and inventory tracking.
Automating time-consuming tasks allows sales professionals to focus on high-value activities such as relationship building and deal closing. It also enhances data analysis, improving decision making and enabling more personalized, timely customer interactions.
Thirty-two percent of IT workers are optimistic that AI and automation will have more of a positive impact on their careers than a negative one.22
Nine out of ten IT employees attribute automation to increased satisfaction with cross-functional teamwork.11
Nearly all IT workers using automation tools (93%) are more satisfied with their productivity.11
Gartner predicts that structured automation—referring to the use of pre-defined, rule-based systems to automate tasks such as workflows and data handling—will grow significantly, with 70% of organizations adopting it by 2025, up from 20% in 2021.23
Eighty-two percent of IT professionals aim to improve IT automation tool capabilities to better handle complex, hybrid environments.24
According to Salesforce, 84% of IT leaders believe generative AI will enhance their ability to deliver improved customer service.25
Self-service IT automation is becoming prevalent, with 88% of IT pros providing it to end-users and prioritizing self-service features in new tool purchases.24
Automation is transforming IT workflows, boosting productivity and enabling teams to tackle complex challenges more efficiently. As more organizations adopt structured automation, they position themselves for scalable growth and innovation in the years ahead.
Workflow automation streamlines and optimizes business processes by automating repetitive tasks and integrating disparate systems. Businesses greatly benefit from workflow automation as it enables seamless collaboration across departments, improves operational efficiency, and accelerates decision-making.
Over 70% of employees report that automation tools accelerate their workflow.11
Fifty-two percent of organizations piloting automation have adopted intelligent document processing, a technology that digitizes and extracts data from documents.26
A significant 94% of enterprise professionals prefer a unified platform for application integration and workflow automation over multiple systems.27
Intelligent workflow automation (IWA) leverages AI to process and learn from various document types, including invoices. It helps to reduce errors and save time, particularly important given that 85% of company data is unstructured.28
Intelligent workflow automation enabled one healthcare data aggregator to achieve 70% cost savings and automated 73% of document processing, reducing processing times from 48 hours to less than a second.28
Using Vena’s automated Excel interface, the payment processing firm iPSL accelerated the completion of budgets and forecast reports by 66%, reducing the timeline from 6 weeks to just 10 days.
The workflow automation market is projected to bring in $80.9 billion in revenue in 2030.29
The widespread adoption of tools like intelligent document processing and unified platforms shows how businesses are using workflow automation to cut costs, reduce errors, and accelerate decision-making. Companies not investing in these technologies risk missing out on the efficiency and innovation needed to stay ahead.
Automation offers numerous benefits, including increased efficiency, reduced errors, improved decision making and enhanced customer satisfaction. Automating repetitive tasks can free up valuable time and resources to focus on strategic initiatives.
Nearly 9 in 10 employees trust automation solutions to deliver error-free results.11
Two-thirds of respondents in a McKinsey survey reported improvements in quality control, customer satisfaction, employee experience, and reduced operating costs due to automation.26
Robotic processing automation (RPA) software robots are significantly more cost-effective than human workers, costing one-third the cost of an offshore full-time employee and one-fifth the price of an onshore worker.30
Eighty-nine percent are more satisfied with their job, and 84% are more satisfied with their company due to using automation in the workplace.11
Eighty-five percent of AI users attribute increased AI usage to its integration into familiar tools.21
One survey revealed that 29% of small business owners are prioritizing automation to reduce the risk of burnout.31
WorkMarket reports that employees estimate a potential time saving of 240 hours per year through task automation, while business leaders estimate 360 hours.32
Automation’s ROI extends far beyond efficiency gains—it transforms operations, reduces costs and improves both employee and customer satisfaction. Businesses that embrace the ability to reallocate hundreds of hours annually from repetitive tasks to strategic initiatives position themselves to innovate faster and adapt more effectively in competitive markets.
While automation offers significant benefits, it also presents challenges such as initial implementation costs, resistance to change and employee anxieties. Understanding and addressing these challenges is crucial for successful automation initiatives.
Over a third (37%) of workers express worry about automation-related job loss.33
Over 85% of CFOs identify challenges in effectively implementing and leveraging technology and automation.4
While 75% of organizations expect employees to optimize processes, only 8% provide formal training, revealing a significant skill gap.34
To adapt to automation-driven global labor market changes, 7–24% of women and 8–28% of men may need to transition to different occupations.35
Seventy percent of automation resources are typically consumed by pre-automation processes.30
A corporate strategic imperative is necessary to encourage warehouse and manufacturing automation at roughly 50% of billion-dollar companies.6
Political uncertainty surrounding the 2024 election cycle prompted nearly one-third of CFOs to reconsider automation investments, with many choosing to postpone, scale down, delay or cancel initiatives entirely.2
Addressing challenges such as workforce training and resistance to change is crucial to ensure successful automation adoption and maximize its benefits. Carefully planning and executing automation projects can help organizations mitigate risks and realize the full potential of automation.
AI and machine learning can vastly automate workflows, making processes smarter and more efficient. From managing finances to improving supply chains, AI-enabled tools help businesses save time and work better.
AI adoption in finance is growing, with CFOs using it for accounts payable and receivable (36%), process automation (35%) and predictive analytics (33%).4
While AI could automate parts of two-thirds of jobs, experts expect AI to work alongside humans, not replace them.5
Despite concerns about talent shortages, 72% of executives believe they can access the AI talent needed for their initiatives.1
AI technologies can automate tasks that occupy 60–70% of workers' current workload.36
Less than 20% of organizations have effectively measured the impact of hyperautomation, a useful but complex technology combining AI, machine learning and RPA.8
Over half of AI projects, around 54% on average, successfully scale from pilot to production.1
Over 90% of SMBs are likely to consider AI and automation services, including ChatGPT, to improve their competitive position.37
We’re just starting to see a growing reliance on AI and machine learning to enhance efficiency and drive innovation across industries. Securely and effectively integrating these technologies will enable businesses to unlock new growth opportunities while optimizing resources for strategic priorities.
Business automation empowers you to delegate routine tasks to technology, freeing up valuable time to focus on high-impact, strategic initiatives. By streamlining processes and reducing manual effort, you can unlock your team's full potential and drive innovation.
Find out how Vena can help you accelerate financial planning and analysis with automation and AI.
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