12a - FESA24 - Key Insights From The Latest Finance Technology La - 1553506

Key Insights From the Latest
Finance Technology
Landscape Research
Matthew Mowrey
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What Is an Amygdala?
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“Losses loom larger than gains”
Kahneman & Tversky, 1979
Counter
Measures
Group Thinking …
Benefits of outside
information…
Choosing the wrong technology is
biggest obstacle/challenge in finance.
2022 Gartner Tech Buying Behavior Survey
Key Issues
What does the finance Key findings and insights

technology landscape within the finance
look like today? technology landscape.
Key Issues
What does the finance Key findings and insights

technology landscape within the finance
look like today? technology landscape.
Key Attributes of the Research
400 Finance Across Represented Key

Leaders the Globe Industries
74% 58
1 billion + Technologies
1
Adoption
Value
Future Investment
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1
Adoption
Value
Future Investment
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affiliates.
1
Adoption
Value
Future Investment
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affiliates.All
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Finance Tech Landscape Simplified Into
a Visualization
Adopting Exploring
In Use
Concentric Rings Indicate the Level of Adoption
Adopting Exploring
Assessment Factors
Adoption Level
Exploring
In Use
Adopting
In Use
Four Quadrants Group Like Technologies
ance ols
fin d To C
Te ore
Adopting Exploring
Assessment Factors n
No y an ch
g
Fi logie
hn al
no
Adoption Level
olo
Tec ritic
na s
nc
C
e
Exploring
In Use
Adopting
In Use A d v h no
Tec
tio on
an
iza ati
c e l o gi
n
m
d
to
D
es ta A Au
an n al ess ptim
d T ytics c
ool Pro nd O
s a
Size of Circle Indicates the Value Received
ance ols
fin d To C
Te ore
Adopting Exploring
No y an ch
g
Fi logie
hn al
no
Adoption Level Value
olo
Tec ritic
na s
nc
C
e
Exploring
In Use
Low Medium High
Adopting
In Use A d v h no
Tec
tio on
an
iza ati
c e l o gi
n
m
d
to
D
es ta A Au
an n al ess ptim
d T ytics c
ool Pro nd O
s a
Color of Circle Indicates Where Investment Is
Headed in the Next Two Years
ance ols
fin d To C
Te ore
Adopting Exploring
No y an ch
g
Fi logie
hn al
no
Adoption Level Value
olo
Tec ritic
na s
nc
C
e
Exploring
In Use
Low Medium High
Adopting
In Use A d v h no Future Investment
Lesser Similar Greater

Tec
tio on
an
iza ati
c e l o gi
n
m
d
to
D
es ta A Au
an n al ess ptim
d T ytics c
ool Pro nd O
s a
Key Issue Take-Away:
The Finance Technology Bullseye depicts the
level of adoption, value and expected
investment across 58 finance technologies.
Quadrant 1:
Core Finance
Technologies
Core Finance Technologies
Underpin Core Finance Processes.
Exploring
Co
re
Fi
na
nc
Accounting
e
Hubs
Adopting
Te
ESG Reporting
ch
Disclosure
no
Financial
log
Close
XP&A/IBP
ies
Solutions
Financial Planning
(FP&A) Software
GL On-Premises ERP
In Use
T&E Solutions
Treasury
Excel Management
System
Tax Software
ERP Capital Budgeting Tools
(Cloud) Homegrown Solutions
Exploring
Co
re
Fi
na
nc
Accounting
Future
e
Hubs Adoption Value
Adopting
Te
ESG Reporting Investment
ch
Disclosure
no
Financial Exceeds All ERP (Cloud- Expected to
log
Close
XP&A/IBP Other based) Remain the
ies
Solutions
Financial Planning Categories Same
(FP&A) Software ERP (On-
GL On-Premises ERP premises) 9% Will Spend
In Use
T&E Solutions Far More

Treasury Financial
Excel Management Planning
System
Tax Software Software
ERP Capital Budgeting Tools
(Cloud) Homegrown Solutions
ERP — Still Transition but Moving Rapidly to the Cloud
Exploring
Co
re Cloud n-Premises
Fi O
na
30% 16%
nc
e
Adopting
Te
ch
no
log
ies
Hybrid
On-Premises ERP
43%
In Use
ERP
(Cloud)
Exploring What Is Financial Planning Software?
Co
re
Fi
na
nc
e
Adopting
Te
ch
no
log
ies
Financial Planning
(FP&A) Software
In Use
Key Features of Financial Planning Software
Data Decisions
Data Integration Data Model Scenario Advanced Story Telling

Planning Analytics
Quadrant 2:
Process Automation
and Optimization
Technologies
Process Automation and Optimization
Technologies Reduce Manual Work by
Automating Tasks or Process Workflows.
Reporting BPaaS
Automation BPMS
Workflow Source-to-
Automation Pay solution
Software
In Use
iPaaS
AIP
VAs
Integrated Invoice-
to-Cash Solutions
tion
External-Data
Integration
iz a
OCR
Adopting
Process Mining
tim
Op
IDP RPA
d
an
Distributed
Integration io
n
Platforms at
Exploring
m
uto
s A
iBPMS s
ce
Pr o
Reporting BPaaS
Automation BPMS
Workflow Source-to-
Automation Pay solution
Software
In Use
iPaaS
AIP
VAs
Future
Integrated Invoice- Adoption Value
Investment
to-Cash Solutions
tion
External-Data Second Most RPA 11% Will Invest
Integration
iz a
OCR Adopted Far More
Adopting
Process Mining
tim
Workflow
Op
IDP RPA Automation
d
an
Distributed
Integration io
n
Platforms at
Exploring
m
uto
s A
iBPMS s
ce
Pr o
RPA 2022
In Use
RPA Moved From
tion
in Use to Adopting
iz a
Adopting
tim
RPA 2023
Op
d
an
n
io
at
Exploring
m
uto
s A
s
ce
Pr o
RPA Software Spending
Worldwide, 2021-2026
$4.9 Billion
Five-Year Market Growth = $2.6 Billion (CAGR 15.9%)
$2.4 Billion
2021 2022 2023 2024 2025 2026
RPA Use Case in Finance
Human RPA OCR RPA RPA
• CreatesPDF • Opens PDF • Extracts data • Extracts data • Enters

from paper or invoice from PDF from PDF validated data
email • Calls OCR to • Sends data to • Sends data to into AP system
extract data AI/ML model AI/ML model • Approved
from PDF for scoring for scoring & payment
batch created
AI/ML Human Bank
• Fuzzy matches against AP • Manually • Bank pays

• Determines match score reviews invoice
• Sends high-score results back to exceptions
RPA workflow queue
• Sends low-score results to • Assigns
exceptions queue required data
In Use
VAs 2023
Virtual Assistants
Are Growing in
tion
iz a
Adopting
Value & Investment

VAs 2022
tim
Op
d
an
n
io
at
Exploring
m
uto
s A
s
ce
Pr o
Gartner estimates that more than 56% of
organizations have an average of four or more
concurrent hyperautomation initiatives underway,
and leading companies have over 10.
Quadrant 3:
Advanced Data
Analytics Tools
and Technologies
Advanced Data Analytics Tools
and Technologies Process Data
for Decision Making.
Data Mining
BI Tools in Finance
AI Governance Middle Layer
(Data Lake, Mart, etc.)
In Use
Self-Service Data
and Analytics
AutoML Cloud Analytics
Graph
XAI Analytics
Causal AI Big Data
NLP Analytics
Adopting
A d c hn
Low-Code Advanced
v a ol
Te
Development Analytics
n c og
ed ie
Augmented Data Quality

Da s a
Policy as Code
Anomaly and
ta n
An
Exploring
d aly Error Detection
To tic Neutral Networks
ols s
Embedded AI
Data Mining
BI Tools in Finance
AI Governance Middle Layer
(Data Lake, Mart, etc.)
In Use
Self-Service Data
and Analytics
Future
Cloud Analytics Adoption Value
AutoML Graph Investment
XAI Analytics
Fourth Most BI Tools in 13% Will
Causal AI Big Data Adopted Finance Spend Far
NLP Analytics
Adopting
A d c hn
Low-Code Advanced More

v a ol
Te
Analytics Advanced
Development
n c og
Analytics
ed ie
Augmented Data Quality

Da s a
Policy as Code Big Data

Anomaly and
ta n
An Analytics
Exploring
d aly Error Detection
To tic Neutral Networks
ols s Middle Layer
Embedded AI
In Use
Adopting
A d c hn
v a ol
Te
n c og
ed ie
Da s a
ta n
An
Exploring
d al
To ytic
ols s
Embedded AI
Finance leaders must be in touch
with analytics adoption.
BI Tools in Finance
In Use
BI Tools in
Adopting
A d c hn
v a ol
Te
Finance
n c og
ed ie
Da s a
ta n
An
Exploring
d al
To ytic
ols s
BI Tools in Finance
In Use
There was a huge
increase in controller
Adopting
A d c hn
adoption of BI tools
v a ol
Te
n c og
38% YoY.
ed ie
Da s a
ta n
An
Exploring
d al
To ytic
ols s
Quadrant 4:
Critical Nonfinance
Technology and Tools
Critical Nonfinance Technologies
Are Tangential to Finance Processes.
Exploring
nce ls
a o
if n To Blockchain
n nd
log o
a
no l N
y
ch a
Adopting
Te ritic
Digital Twin Workforce

C
Planning
Knowledge
Management
Technology
IoT
Mobile-Based
In Use
Applications
PMO
User Experience Platform CRM
Exploring
nce ls
a o
if n To Blockchain
n nd
log o
a
no l N
Future
y
ch a
Adoption Value
Adopting
Te ritic
Digital Twin Workforce Investment

C
Planning
Third Most CRM 13% Will
Adopted Spend Far
Knowledge
Management More
Technology
IoT
Mobile-Based
In Use
Applications
PMO
User Experience Platform CRM
Exploring
nce ls
a o
if n To
n nd
log o
a
no l N
y
ch a
Adopting
Te ritic
C
User Experience Platform In Use
FinancePortal
Home
I2C
P2P
Close
`
Planning
Analytics
My Tasks My Progress
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affiliates.All
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affiliates.
Insights From
Across the Bullseye
Client Questions From Across the Bullseye
1 What technologies deliver the highest value?
2 Where are decision makers placing their bets?
2 Where are decision makers placing their bets?
3 What type of value do the technologies provide?
What Technologies Deliver the Highest Value?
1 2 3
ERP (Cloud- Customer BI Tools in

Based) Relationship Finance
Management
19
(CRM)
4 5
Advanced Financial
Analytics Planning
(FP&A)
Software
Where Are Decision Makers Placing Their Bets?
1 2 3
Treasury BI Tools in Data Mining

Management Finance
Systems
12 4
Graph
Analytics
5
Middle Layer
(Data Lake,
Mart, etc.)
What Type of Value Do
the Technologies Provide?
Primary Value Factors
Increase Cost-Efficiency Improve Speed Enable

and Agility Resilience
Enhance Employee Increase Revenue

Productivity Through Improved
Products and/or Services
Primary Value Factors
1 2 3
Improve Speed Increase Cost-Efficiency Enhance Employee

and Agility Productivity
What Technologies Are Associated With the
Highest Ranked Primary Value Factors?
1 2 3
Robotic Workflow Reporting

Process Automation Automation
Automation Software
15
(RPA)
4 5
Self-Service Financial
Data and Close
Analytics Solutions
Double-Clicking on the Bullseye
19 12 15
Highest Value Decision Makers
Placing Bets
Primary Value
Drivers
Intersection of Questions We’re Asked
Highest Process Where

Value Mining Decision
Technologies Makers Are
RPA Investing
Reporting
Automation
Self-Service
D&A
• Workflow Automation Technology • BITools in Finance

• Financial Close Solutions
Associated With • Middle Layer
Primary Value Factors • Data Mining
Use the Bullseye to home in on opportunities
within your current finance technology
stack, as well as those you may be
missing completely.
All Gains No Losses
Recommendations
Familiarize yourself with the 2023 Finance Technology

Bullseye Research.
Submit an inquiry request if you’d like help with your finance

technology roadmap.
Submit an inquiry request if you’re thinking about replacing your

financial planning software.
Recommended Gartner Research
2023 Finance Technology Bullseye Report

Matthew Mowrey
Drive Agility by Deploying a Composable Finance Technology
Strategy
Nisha Bhandare
Magic Quadrant for Financial Planning Software
Regina Crowder, Matthew Mowrey and Vaughan Archer
RPA Opportunity Selection and Prioritization Tool
Alejandra Lozada and Mike Helsel
Access to Gartner research is subject to individual subscription type and product entitlements.

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Key Insights From the Latest

Kahneman & Tversky, 1979

2022 Gartner Tech Buying Behavior Survey

What does the finance Key findings and insights

What does the finance Key findings and insights

400 Finance Across Represented Key

Lesser Similar Greater

T&E Solutions Far More

Data Integration Data Model Scenario Advanced Story Telling

RPA Moved From

2021 2022 2023 2024 2025 2026

Human RPA OCR RPA RPA

• CreatesPDF • Opens PDF • Extracts data • Extracts data • Enters

AI/ML Human Bank

• Fuzzy matches against AP • Manually • Bank pays

Value & Investment

Augmented Data Quality

Low-Code Advanced More

Augmented Data Quality

Policy as Code Big Data

Digital Twin Workforce

User Experience Platform CRM

Digital Twin Workforce Investment

User Experience Platform CRM

User Experience Platform In Use

1 What technologies deliver the highest value?

1 What technologies deliver the highest value?

2 Where are decision makers placing their bets?

1 What technologies deliver the highest value?

2 Where are decision makers placing their bets?

3 What type of value do the technologies provide?

ERP (Cloud- Customer BI Tools in

Treasury BI Tools in Data Mining

Increase Cost-Efficiency Improve Speed Enable

Enhance Employee Increase Revenue

Improve Speed Increase Cost-Efficiency Enhance Employee

Robotic Workflow Reporting

Highest Process Where

• Workflow Automation Technology • BITools in Finance

Familiarize yourself with the 2023 Finance Technology

Submit an inquiry request if you’d like help with your finance

Submit an inquiry request if you’re thinking about replacing your

2023 Finance Technology Bullseye Report

You might also like