As the Economy Slows, Finance Automation is Helping Companies Accelerate their Response

Finance Automation is Helping Companies Accelerate their Response

The last two quarters have seen the global economy hit by multiple shocks — high inflation, slowing growth, and layoffs. It’s a difficult time for businesses and finance teams as they have to navigate multiple challenges at once.

Cost-cutting has become the go-to strategy for many, but it can only help businesses go so far. CFOs and their finance teams are looking for deeper, more strategic ways to streamline and optimize operations without sacrificing the competitiveness of the business.

One tool that has risen in popularity is finance automation. It can help finance teams save money while also significantly reducing the time they spend on repetitive tasks.

Mesh Payments CFO, Anna King, recently provided an overview of finance automation in StrategicCFO360 and the ways it can help businesses cut costs while also boosting growth.

In the post, King outlined three key benefits provided by finance automation:

  • Time savings
  • Insight and visibility
  • Flexibility

Time savings is especially important in helping businesses manage the downturn. King writes:

“Obviously, time savings = cost savings, but it goes deeper than that. Time saved through automation can be reinvested into other strategic tasks. This means your team can spend more resources on big picture issues such as driving efficiency, eliminating unnecessary expenses, and looking for new opportunities.”

You can read the full post over at StrategicCFO360.

If you want to find out more about finance automation and how Mesh can help, sign up for a demo today.

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