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The role of the Chief Financial Officer (CFO) has evolved dramatically over the past few decades, expanding well beyond traditional finance and accounting responsibilities; CFO’s are now seen as strategic partners responsible for shaping strategic direction and driving efficiency. In turn, rising costs and increasingly challenging environments have squeezed profit margins and added tremendous financial pressure to businesses of all sizes. Something must change.
In comes automation! In recent years automation has emerged as one of the most powerful tools a business can adopt. Once reserved for large corporations with deep pockets, automation technology is now accessible to businesses of all sizes, even the smallest and it’s proving to be a major cost saver across industries.
At its core, automation eliminates repetitive, manual tasks that once ate up hours of employee time. Whether it's processing invoices, managing customer support tickets, data entry or updating inventory levels, businesses can now streamline workflows with software bots and machine learning algorithms. Finance automation is increasing efficiency, saving time and eliminating bottlenecks and pressure points.
By reducing the need for human intervention in routine operations, companies are slashing labour costs considerably – a study by PwC discovered that businesses in the finance sector are saving 30-40% time using automation. But it’s not about replacing people, it’s about allowing teams to focus on higher-value, strategic work and areas that can add value to the business. That shift translates into not only savings but also increased innovation and growth.
Many business functions can now be automated to deliver noticeable savings and benefits. How does it work? Artificial intelligence is used within automation software to trigger specific actions with the result streamlining workflows and processes.
Let’s explore some areas that automation is adding value:
Here are a few areas where automation is directly contributing to cost reduction:
AP is an area notorious for labour intensive, costly and time-consuming tasks. There are many benefits to automating this function to such as quicker invoice payments to strengthen supplier relationships and redeem early payment discounts as opposed to late payment penalties. Did you know it can cost anywhere between £4 and £25 to manually approve one invoice but with automation the cost can be lowered to as little as £1?
Automation can streamline procurement workflows and drive efficient processes when buying goods and services to provide a maximum level of control and visibility. Indirect costs can mount up if not managed carefully which can spiral and cost businesses significant amounts of money.
Business Intelligence is an area that automation can make a real difference as automation can pull real-time information from across your system to compile an accurate and in-depth analysis, as opposed to an out-dated, unreliable jumble of data. Automation can then populate reports at the click of a button to produce actionable insights to drive data-driven decision making based on accuracy not guesswork. Poor decision making can cost a business thousands so it’s essential to get it right first time, your success depends on it!
Automation doesn’t always mean massive infrastructure overhauls. Many tools today integrate seamlessly with existing ERP systems, such as Opera 3 SE. Cloud-based platforms offer flexible pricing, allowing even small businesses to start small and scale as needed.
What makes automation especially attractive is the quick return on investment. According to a recent study by McKinsey, companies that implemented automation in core processes reported an average cost reduction of 20% within the first year.
In today’s hyper-competitive market with rising costs and tight profit margins, businesses can’t afford inefficiencies. Automation offers a clear path to reducing costs, increasing accuracy, saving time and driving the kind of efficiency that will drive the business forward, whether you work in a large corporation or a small enterprise.
Automation isn’t just a future trend—it’s a present-day necessity for any business looking to stay lean, agile, and profitable and offers many benefits to those who adopt it.
To learn more about the automation opportunities offered by Pegasus with our leading ERP solution Opera 3 SE, please contact us today.
Posted On: June 04, 2025
