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Infographic
The Evolving Role of Finance: Then vs. Now
Then
Focused on processing invoices, expenses, and reconciliations to keep the business running.
Produced historical reports to explain what happened.
Built annual budgets and analyzed variances after the fact.
Ensured compliance through manual reviews and approvals.
Reviewed and approved spending after decisions were set.
Measured success through control and cost savings.
Now
Focused on optimizing payables through data, automation, and strategic insights that drive performance.
Delivers real-time analytics and predictive visibility to influence future decisions.
Applies AI-assisted forecasting and scenario modeling to guide the strategy.
Uses continuous monitoring and automated controls to prevent issues proactively.
Collaborates across departments to shape spending and strategic initiatives.
Success is measured by business impact, profitability, and strategic contribution.
What’s Driving the Shift?
Rapid automation and digital transformation
Expanding global operations and compliance needs
Increased fraud and regulatory risk
Demand for real-time insights and faster decisions
Insights From Real Finance Professionals
74%
say their finance teams have been asked to play a more strategic role in driving business growth
83%
have seen an increase in their individual workload in the past 12 months
79%
have seen an increase in the expectations and workload for their team in the past 12 months
*Data based on Tipalti’s Global Finance Outlook
Automation and AI are redefining finance.
With Tipalti, you can eliminate manual work and give your team more time to focus on analysis, innovation, and growth.
