Adam Zoucha, MD EMEA at FloQast comments, “Inflation is really putting the heat on the accountancy function. With high inflation, the pressure on businesses’ purse strings will intensify and bring more scrutiny and demand for quick and accurate financials at month end.”

“High inflation will also act as a lever for change. It will prompt many businesses into action, as they search for ways to give their accountants more time to think strategically.”

“Finance teams often struggle to increase headcount when spending is scrutinised, so many CFOs will be looking for ways to extend their resource. Workflow automation stands to be a key solution to this problem – specifically, the automation of the more mundane accounting items, which drives efficiency and creates more time for accounting teams to be strategic in today’s volatile environment.”