The CFO's ROI Playbook: Why 89% of Finance Leaders Are Racing to Automate

If 'doing more with less' has become your finance team's unofficial motto, you're not alone. Finance leaders across industries face mounting pressure to move faster, boost visibility, and cut costs, all without expanding headcount or introducing unnecessary risk. 

And here’s the kicker. Most finance teams are trying to do all that while investing just 13% of their total budget in technology. The rest still goes to people and processes. That may have worked ten years ago. Today, manual-heavy finance operations slow growth. 

For CFOs, Controllers, and AP leaders ready to modernize, the key question isn’t whether to invest in finance tech. It’s where and how fast to do it. Looking at what your peers are doing can help answer that. What are high-performing teams actually doing with automation, ERP upgrades, and AI-powered tools? What results are they seeing? And what’s still getting in the way? 

Let’s dig into the data and the decisions that matter most when building a smarter finance stack. 

The ROI Pressure Is Real 

The ask is well-defined: do more with less and show results sooner. For most finance teams, the urgency to modernize is real, but so is the friction. 

Recent industry data reveals a growing disconnect. Teams are under pressure to streamline and modernize, yet most are still channeling the majority of their budget into people, not technology. And unlike automation, labor doesn’t grow efficiently alongside the business. 

As companies grow, their finance teams shouldn’t have to scale headcount at the same pace. Leading organizations are turning to automation to boost productivity without burning out their people. But for teams still stuck in manual entry, spreadsheet wrangling, or email-based approvals, the pressure is mounting fast. 

That urgency isn’t isolated. Nearly 65% of finance leaders say they’re under pressure to deliver faster ROI from technology investments. Long implementation cycles are no longer acceptable. Today’s finance leaders are looking for results they can see in months, not years. 

So where are they placing their bets? 

Automation is a Priority, But Most Teams Are Behind 

The majority of finance leaders have automation near the top of their priority list, but that doesn’t mean they’re ahead of the curve. 

In Deloitte’s 2023 CFO Signals survey, 80% of CFOs said automation and digital tools were top strategic priorities. Most weren’t just focused on cutting costs either. 81% said automation would free up time for higher-value work like financial planning, vendor negotiations, and forecasting. 

Despite this ambition, only 27% of finance departments have automated more than half their processes and just 2% are fully automated. This gap between intention and execution represents a massive opportunity. 

The ambition is there, but it’s not enough on its own. Clear data points and real-world examples help leadership teams set priorities and build stakeholder buy-in. 

And if you’re looking for a place to start, AP is often the first big win. 

What Happens When AP Gets Automated 

AP doesn’t just handle payments, it touches vendor relationships, cash flow, and time-to-close. That’s why automating AP can drive fast, measurable results. 

A Forrester study found one AP platform delivered 158% ROI over three years, with payback in under six months. Teams reported a 50% productivity boost by eliminating manual data entry and approval follow-ups. 

Ardent Partners reports that it takes 10.1 days to process an invoice manually, compared to 3.4 days with automation. That means faster closes, fewer late payments, and tighter control of cash flow. 

Accuracy improves too. In an AFP survey, 77% of CFOs said automation reduces errors, and 93% said it improves invoice visibility and tracking. That visibility is critical for managing liabilities and staying audit-ready. 

And the financial upside doesn’t stop at time savings.  

The Cost Equation 

Every manual invoice your team processes takes time, attention, and budget. The labor alone can run upwards of $10 per invoice, not to mention the time lost to paper handling and approvals. 

Studies show automation can cut that cost by up to 70%, reducing paper handling, duplicate entry, and manual workflows. 

And the benefits go beyond cost. When processing time and effort drop: 

• Errors decrease, reducing rework and supplier disputes 

• Payment cycles tighten, lowering the risk of late fees 

• Teams stay lean and focused on higher-value tasks 

These are the kinds of returns you unlock by moving from paper-heavy to process-smart. 

Mid-Market Momentum Is Building 

Mid-sized finance teams may not have Fortune 500 resources, but they’re leaning into automation in big ways, and seeing real results. 

In a 2024 survey, 93% of mid-sized firms said they plan to increase AP/AR automation. 

Only 5% of firms are fully automated today, leaving plenty of room to grow. More mid-market leaders are realizing automation isn’t just for the Fortune 500. With pressure on margins, many cite cost savings and cash flow improvements as key drivers. More than half also expect better data and faster insights once payables are digitized. 

These teams may not have extra headcount or months to spare for lengthy implementations. That’s why flexible, cloud-first platforms are gaining traction. 

At the enterprise level, even with budget and buy-in, getting automation off the ground is still the hardest part. 

Enterprise Challenges: When Budget Isn't the Bottleneck 

For large organizations, the challenge isn’t will, it’s execution. 

A 2024 shared services summit found 26% of enterprises had automated less than a quarter of AP. Standardizing processes, juggling multiple ERPs, and overcoming legacy systems all create roadblocks. 

But when these organizations automate, the payoff is big. One global company increased invoice volume by 50% without adding headcount thanks to advanced AP workflows, including three-way match automation. 

Often, the roadblock isn’t people or process. It’s the platform itself. 

ERP: The Quiet Bottleneck 

ERP doesn’t always get the spotlight, but it can quietly stall your automation strategy if it’s not aligned. 

As AI adoption grows, 60% of CFOs say their ERP systems aren’t equipped to support modern tools. That’s driving a wave of ERP modernization. Finance leaders are now prioritizing cloud-based platforms that integrate with automation and offer connected, clean data. 

Digital transformation is top of mind. In fact, 62% of IT leaders consider it a high priority, and half of companies are planning or executing ERP upgrades. When foundational systems are in sync, everything else gets easier. 

And as AI continues to move from theory to practice, those integrations matter more than ever. 

AI, Forecasting, and the Future 

Artificial intelligence isn’t just a trend anymore. It’s already delivering real results in finance. 

By late 2024, 28% of finance teams were using AI for forecasting and analysis, a figure that has doubled since 2018. 

From flagging invoice anomalies to auto-coding expenses, AI is helping finance teams work faster and with greater accuracy. And it’s not just hype. A PwC study found that 58% of CFOs are spending more time on tech implementation than a year ago. 

Smart finance leaders aren’t just buying tools. They’re investing in ones that simplify work and deliver clear results. 

Make the Metrics Work for You 

The best finance leaders don’t just follow the data. They use it to lead. 

Comparing performance across teams helps confirm your instincts, highlight what’s working, and identify where the gaps are. 

The takeaway is clear: teams that invest in automation, AI, and modern platforms are seeing considerable impact, from fewer errors to faster ROI. 

Calculate Your AP Automation ROI 
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