Comprehensive platforms, AI features reshape
software to meet changing requirements for enterprise
financial operations, ISG Provider Lens™ report says
Enterprises are seeking integrated finance and accounting
software platforms for greater automation, precision and insight as
AI and other advances transform the options available in this
segment, according to a new research report published today by
Information Services Group (ISG) (Nasdaq: III), a leading global
technology research and advisory firm.
The 2024 ISG Provider Lens™ global Finance and Accounting
Platforms report finds that the need for faster, more efficient
financial reporting and decision-making is forcing companies to
replace specialized, siloed tools with software-as-a-service (SaaS)
platforms that handle multiple functions and can be integrated with
complementary applications. AI and machine learning features have
brought powerful new capabilities to these platforms, while vendors
are investing in generative AI (GenAI) in search of the next big
breakthroughs.
“The finance and accounting SaaS sector is investing in
next-generation technologies to solve age-old business problems,”
said Robert Stapleton, ISG partner, Business Outsourcing Services.
“This extends to GenAI, even though its operational effectiveness
is still uncertain.”
Organizations are more likely to benefit from GenAI in strategic
functions, such as record-to-report (R2R) and financial planning
and analysis (FP&A), than in transactional applications such as
procure-to-pay (P2P) or invoice-to-cash (I2C), ISG says. By
processing large volumes of data and quickly recognizing patterns,
GenAI might lead to better predictive models and let companies
generate more personalized financial insights with less human
intervention.
Modern enterprises have complex, interrelated finance and
accounting requirements, including the growing need to quickly
understand and report on a wide range of financial metrics, the
report says. Different functions, including I2C, P2P, R2R and
FP&A, need to work together by tapping into large, shared data
sets in real time. Through mergers, acquisitions, and partnerships,
providers that once focused on specific functions are now expanding
their capabilities to deliver more comprehensive solutions.
A growing recognition that each company’s finance and accounting
challenges are unique has led providers to adopt a more
client-centric approach, the report says. Enterprises and providers
are collaborating to craft solutions that can become long-term
assets with tangible business benefits.
“In finance and accounting, one size doesn’t fit all,” said Jan
Erik Aase, partner and global leader, ISG Provider Lens Research.
“Providers are working more closely with clients to fine-tune
solutions to their needs.”
The report also explores other trends affecting finance and
accounting platforms, including providers’ investments in global
expansion and efforts to streamline implementation processes for
faster ROI.
For more insights into current challenges for enterprise finance
and accounting organizations, including outdated systems and poor
data accuracy, plus ISG’s advice for addressing these issues, see
the ISG Provider Lens™ Focal Points briefing here.
The 2024 ISG Provider Lens™ global Finance and Accounting
Platforms report evaluates the capabilities of 22 providers across
two quadrants: Invoice to Cash (I2C) and Record to Report
(R2R).
The report names BlackLine as a Leader in both quadrants. It
names Billtrust, Esker, FIS GETPAID, HighRadius, OneStream, Oracle,
Sidetrade and Trintech as Leaders in one quadrant each.
In addition, Emagia and HighRadius are named as Rising Stars —
companies with a “promising portfolio” and “high future potential”
by ISG’s definition — in one quadrant each.
Customized versions of the report are available from Emagia and
Trintech.
The 2024 ISG Provider Lens™ global Finance and Accounting
Platforms report is available to subscribers or for one-time
purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only
service provider evaluation of its kind to combine empirical,
data-driven research and market analysis with the real-world
experience and observations of ISG's global advisory team.
Enterprises will find a wealth of detailed data and market analysis
to help guide their selection of appropriate sourcing partners,
while ISG advisors use the reports to validate their own market
knowledge and make recommendations to ISG's enterprise clients. The
research currently covers providers offering their services
globally, across Europe, as well as in the U.S., Canada, Brazil,
the U.K., France, Benelux, Germany, Switzerland, the Nordics,
Australia and Singapore/Malaysia, with additional markets to be
added in the future. For more information about ISG Provider Lens
research, please visit this webpage.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading
global technology research and advisory firm. A trusted business
partner to more than 900 clients, including more than 75 of the
world’s top 100 enterprises, ISG is committed to helping
corporations, public sector organizations, and service and
technology providers achieve operational excellence and faster
growth. The firm specializes in digital transformation services,
including AI and automation, cloud and data analytics; sourcing
advisory; managed governance and risk services; network carrier
services; strategy and operations design; change management; market
intelligence and technology research and analysis. Founded in 2006,
and based in Stamford, Conn., ISG employs more than 1,600
digital-ready professionals operating in more than 20 countries—a
global team known for its innovative thinking, market influence,
deep industry and technology expertise, and world-class research
and analytical capabilities based on the industry’s most
comprehensive marketplace data. For more information, visit
www.isg-one.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240503678862/en/
Will Thoretz, ISG +1 203 517 3119 will.thoretz@isg-one.com
Julianna Sheridan, Matter Communications for ISG +1 978-518-4520
isg@matternow.com
Information Services (NASDAQ:III)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Information Services (NASDAQ:III)
Gráfica de Acción Histórica
De May 2023 a May 2024
