Research by Tipalti has uncovered that finance teams across the globe are grappling with increasing challenges due to the swift evolution of international business.
This global finance outlook from Tipalti emphasizes that traditional accounting methods and limited automation tools are insufficient for addressing rising complexities, stringent compliance requirements, and the expanding influence of artificial intelligence.
The survey involved 2,326 finance professionals in North America and Europe. It found that 83% of teams face heavier workloads as a result of international expansion, tariff changes, and regulatory updates. Manual tasks in accounts payable are notably time-consuming for many respondents, with an average loss of about 11 hours per week on such activities, even though there is a trend towards more strategic responsibilities within finance departments.
Automation disparity among teams
The report from Tipalti identifies a growing divide between companies that have embraced automation and those still relying on manual processes. While most finance executives see automation and AI as essential for maintaining long-term business resilience, only 7% of the surveyed organizations have fully automated their accounts payable systems. For the hesitant adopters, concerns over data security and system integration serve as significant barriers. However, nearly half of the survey participants are now testing or implementing AI-driven tools, with those already using automation reporting better efficiency and accuracy.
Investment in technology is a top priority for financial operations. Half of the respondents plan to allocate funds towards AI solutions over the next year, while others focus on fraud detection, risk monitoring, and compliance tools. Many also associate automation with enhanced employee retention and reduced burnout.
External pressures are mounting, as over half of finance leaders report that tariff uncertainties and economic volatility have affected their expansion plans. Compliance and fraud risks are also increasing; 60% noted an increase in concerns about fraud, while almost the same proportion admitted to lacking a clear strategy for managing international compliance requirements.
A Tipalti representative commented on how manual accounts payable processes can lead to operational blind spots and compliance risks, especially when agility is crucial. Automation is seen as key to achieving greater scalability and control in complex global business environments.
