Why do you think finance is behind the other departments in the business when it comes to investing in and using the latest technology?

Due to need for financial statements to be accurate15%

Due to lack of investment in Finance department46%

Due to lack of skillset among Finance8%

Due to risk adverse nature of finance professionals46%

Due to overdependence on spreadsheets23%

Other (Please Comment)23%


371 views2 Upvotes6 Comments

CFO in Finance (non-banking), 11 - 50 employees
Finance is more complex than individual departments, so for a finance tool to be useful, it has a high hurdle. 

There's also more risk in finance and accounting if something goes wrong, which is sometimes reflected in the people, but often is just a function of the responsibilities (e.g., you really don't want to get payroll wrong, but if you have a typo in a marketing email, that's okay).

Also, Excel is a solid tool, super flexible.... and free!
3 2 Replies
CFO in Finance (non-banking), Self-employed

Agree with all of this.  I have made mistakes with sales commissions and paid the wrong people and also seen payroll make mistakes with it and it is always really painful when you have those type of mistakes.  Much more painful then if I have a typo in my most recent LInkedIn post. 

Founder in Miscellaneous, Self-employed

 I always have typos in my LinkedIn posts lol

CFO Advisory Director in Finance (non-banking), 10,001+ employees
Not a detailed Finance technology ( digital transformation ) Strategy.
Change adverse Finance people.
Lack of understanding by finance people of the Step change Cloud technology brings.
Take SAP ECC vs S4 / Hana.
Still too much reliance on spreadsheets
Poor ability to articulate the ROI of step change technology
Founder & CEO in Finance (non-banking), 2 - 10 employees
One the reasons is that Finance is seen as cost center as opposed to a profit center, If Finance is able to lead projects that add value to the corporation as a whole, I sense CEOs would be more open to invest in finance. I know this change is not easy but possible. 
Founder in Miscellaneous, Self-employed
I don't necessary think finance are always behind. It depends on the nature of the organisation and the appetite of the team.

As with all things, transformation comes from the members of the team that shout the loudest, and can justify the best business case.

Is it easier for a salesperson to sell internally?


Does that mean sales have a more urgent need for tech vs finance

Maybe not...

There is a reason why the concept of the finance business partner is becoming more and more mainstream.

Anyone who is able to effectively communicate the value of new technology to an organisation, and justify the business case, will be leading the transformation.

Does that make sense?

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Employee Dissatisfaction31%

Creating a digital wall with customers18%


Validity/reliability of responses18%

Other (please note in the comments below)0%

No problem, bring it on3%


1.6k views2 Upvotes

CTO in Software, 201 - 500 employees
Without a doubt - Technical Debt! It's a ball and chain that creates an ever increasing drag on any organization, stifles innovation, and prevents transformation.
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