Close the Books
Amplify Your Impact Through Automation
Are You Spending 3 Months Every Year Just Closing the Books?
Finance leaders worldwide face mounting pressures—economic uncertainty, compliance demands, cybersecurity risks, and evolving role expectations. But here’s the challenge that’s costing you the most: the time your team spends on repetitive month-end close activities.
Our 6th annual Close the Books survey reveals what over 1,000 finance professionals globally are doing to transform their financial close process—and the results will change how you think about your role.
The Reality Check: Where Does Your Time Go?
The average finance team takes 7 working days to close the books each month. That’s nearly one-third of your working time—90 days a year.
Think about what you could accomplish with that time back. Strategic planning. Data analysis. Team development. Or simply achieving better work-life balance.
The Automation Advantage: Reclaim 24 Days Every Year
Here’s the breakthrough: Finance leaders embracing automation are cutting their closing time by 29%—saving 2 full days every single month. That’s 24 working days a year redirected towards high-impact activities that actually move the needle.
Key Findings That Will Transform Your Approach:
Teams with the highest levels of automation spend nearly 58% of their time on strategic activities, compared to just 18% for those with minimal automation. That’s triple the impact.
The majority of finance leaders are choosing technology over hiring, recognising that automation delivers efficiency without the ongoing costs and complexities of additional staff.
Companies on the cloud enjoy 25% more automation than their counterparts. Of those not yet fully cloud-based, 73% are planning to move within the next 2 years. The question is: will you lead or follow?
What's Really Slowing You Down?
Our research identified the top time-consuming activities during close—and more than half of finance leaders haven’t yet automated these pain points:
51% of respondents lack automation for this critical task, with only 9% considering themselves ‘very automated.’
Nearly half (47%) of finance teams don’t have the automation needed to accelerate this process.
A significant 56% still use manual processes to review transactions for anomalies or inaccuracies.
These manual processes don’t just waste time—they increase error risk and keep your team stuck in the weeds instead of focusing on strategic insights.
The Competitive Reality: Your Rivals Are Moving Fast
Here’s what should concern you: while you’re considering automation, your competitors are implementing it. They’re closing faster, reporting more accurately, and freeing their teams to drive strategic initiatives while you’re still reconciling spreadsheets.
The window of competitive advantage is narrowing. Within 2 years, nearly three-quarters of organisations will be fully cloud-based and automated. If you’re not among them, you’ll be left behind with slower closes, higher costs, and less strategic impact.
Why Finance Leaders Choose Automation Over Headcount
When asked how they plan to accelerate their close, 82% of finance leaders pointed to technology and automation, while only 18% said they’d increase headcount. The mathematics are compelling:
- Automation requires minimal training versus lengthy recruitment and onboarding
- Technology costs remain stable while salary costs escalate annually
- Automated processes scale effortlessly as your organisation grows
- Accuracy improves dramatically, reducing costly errors and rework
- Your team focuses on work that only humans can do—strategic thinking, relationship building, and innovation
Breaking Down the Barriers
We understand that adoption isn’t always straightforward. Finance leaders cite concerns around change management, data security, legacy systems, and ROI uncertainty. But here’s the reality: these barriers are far less significant than the cost of inaction.
Companies successfully implementing automation address these concerns head-on by demonstrating tangible benefits, ensuring robust security measures, and providing comprehensive training and support. The result? Teams that are more productive, more engaged, and more strategic.
What This Means for Your Career and Your Life
This isn’t just about operational efficiency—it’s about transforming your role and your life. With automation handling repetitive tasks, you’ll have time to:
- Drive Strategic Impact: Focus on financial analysis, forecasting, and proactive decision-making that shapes company direction
- Develop Your Team: Invest in training, mentoring, and building a stronger finance function
- Advance Your Career: Position yourself as a strategic leader, not just a number-cruncher
- Achieve Balance: Reclaim evenings and weekends for family, hobbies, and wellbeing
Download the Full Research Report
Want to see exactly how your processes compare against your peers? Curious about the specific strategies top-performing finance teams use to close faster?
Our comprehensive research report includes:
- Detailed breakdowns by company size, region, and industry
- Specific automation strategies for your biggest pain points
- Cloud migration insights and implementation roadmaps
- Real-world case studies from finance leaders who’ve transformed their close process
- Actionable recommendations you can implement immediately
Get Your Free Copy
Discover the insights that will help you close faster, report more accurately, and amplify your impact. Download the complete Close the Books research report today.
By downloading this report, you’re taking the first step towards transforming your financial close process. Join the hundreds of finance leaders who are already using these insights to drive meaningful change in their organisations.
About This Research
This report is based on a global survey of 1,031 finance professionals—CFOs, CAOs, VPs, directors, controllers, and managers—across multiple industries in the United States, United Kingdom, Canada, Australia, and South Africa. Respondents represent organisations ranging from small businesses to mid-sized enterprises with up to 1,000 employees.
The data reveals clear trends: automation isn’t just a nice-to-have—it’s becoming table stakes for competitive finance teams. The question isn’t whether to automate, but how quickly you can implement the right solutions to stay ahead.
Don’t let manual processes hold you back. Download the report now and discover how to amplify your impact through automation.
Research conducted by Sage, the leader in accounting, financial, HR, and payroll technology for small and mid-sized businesses worldwide.
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