Finance Process Automation Must Be Your Next Strategic Move

Manual finance processes continue to weigh down teams, with up to 40% of departmental time spent on repetitive tasks like data entry, reconciliations, and reporting. This inefficiency comes at a cost, not just in wasted hours, but in missed opportunities for strategic focus.

The good news? McKinsey research¹ shows that 60% of finance activities are ripe for automation, with 40% fully and 17% mostly automatable using today’s technology.

Automation continues to be a key focus for many TechnologyOne finance users, emerging as one of their top three priorities². This signals a broader shift, moving finance teams away from routine tasks and toward more strategic work.

Unlocking the True Potential of Your TechnologyOne Finance Function

In today’s fast-paced digital environment, finance departments are expected to do more with less, process faster, forecast better, and contribute strategically to organisational excellence and growth. Yet many remain constrained by outdated manual processes that drain both time and resources.

The True Cost of Manual Finance Processes

This over-reliance on manual work slows teams down and introduces risk. Inconsistent processes lead to human error, delayed reporting, compliance gaps, and a lack of capacity for high-value strategic work.

Automation offers a clear solution. Gartner³ reports that organisations leveraging finance automation see up to 80% faster processing times, along with increased accuracy, better forecasting, and improved decision-making agility.

From Data Entry to Decision-Making

Tasks like accounts payable, reconciliations, and report generation can now be streamlined with automation. Some Lánluas clients have achieved a 191% ROI over five years just by automating AP processes. This isn’t just about doing things faster; it’s about repositioning the finance team as a driver of strategic outcomes and leveraging the advanced capability of TechnologyOne to achieve them.

Smarter Insights Through Real-Time Dashboards

Finance automation also enhances visibility. Real-time dashboards in TechnologyOne consolidate key financial data, enabling more proactive decision-making and stronger compliance. Leaders gain a clear, real-time view of the organisation’s financial health, empowering them to act with confidence.

The Lánluas Approach to Finance Process Automation

At Lánluas, our consultants average more than a decade of hands-on experience with helping TechnologyOne customers. We’ve seen how integrating financial automation with robust platforms like TechnologyOne can streamline operations, enhance productivity, and build long-term financial resilience.

With results like these, it’s no surprise that process automation is now a top priority for TechnologyOne finance users. Those who delay risk falling behind in both efficiency and strategic impact.

Whether you’re starting with AP automation or looking to optimise your broader finance function, the gains are real and measurable:

• Up to 80% faster processing³
• 191% ROI over five years
• Stronger compliance and forecasting.

Let’s explore what automation could unlock for your team.

Get in touch to learn more.

1. https://www.mckinsey.com/featured-insights/asia-pacific/digital-australia-seizing-opportunity-from-the-fourth-industrial-revolution
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2. Survey of 92 TechnologyOne users, Australia, New Zealand, and the United Kingdom, July 2023
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3. https://www.gartner.com/en/newsroom/press-releases/2024-01-25-gartmer-survey-shows-that-leading-ransformation-is-the-top-priority-for-cfos-in-2024
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