From cluttered Excel sheets and error-prone data entry to finance automation: Instead of immediately expanding your finance team or outsourcing repetitive tasks, financial process automation facilitates everyday processes, reduces manual workload and gives your team more freedom to focus on what truly matters – for reduced accounting work of up to 50%.
What is finance automation?
Finance automation uses software and digital technologies to simplify financial processes that are traditionally handled manually. For growing companies, especially those managing international operations, financial process automation becomes more and more important, as complexity increases. Automated accounting offers an easy-to-implement solution without adding unnecessary administrative workload or labour costs.
Elements of finance automation
Modern finance automation goes far beyond traditional accounting tasks. It connects multiple financial processes and creates smoother workflows across departments. Key areas include:
Automated foreign currency exchange: Companies operating across different markets need to manage multiple currencies. Automated solutions reduce currency exposure and help businesses manage foreign exchange processes.
Automated expense management: Finance automation simplifies how companies handle expenses and outgoing payments. Digital workflows can capture receipts, categorise expenses, automate approval processes and support payment scheduling.
Automation between financial systems: Connecting accounting software, banking platforms, payment providers and ERP systems eliminates manual data transfers and creates a central source of financial information.
The true costs of traditional accounting
Manual accounting processes often appear manageable when transaction volumes are low. However, as companies grow, the hidden costs of spreadsheets, manual data entry and disconnected systems become increasingly visible.
The most obvious cost is time. A 2025 Zuora survey of finance leaders found that 79% of respondents said their teams were overwhelmed by manual work, which highlights how traditional processes continue to limit productivity. Another major challenge is human error. When financial information is manually transferred between spreadsheets and systems, companies face a higher risk of incorrect entries or duplicate transactions.
The growing adoption of automation shows that companies are actively addressing these challenges. According to Gartner, 58% of finance functions were already using AI technologies in 2024, with common applications including intelligent process automation, error detection and financial analytics.
However, many companies are still in the early stages: a 2025 rillion survey of US SMEs found that only 8% of finance departments had fully automated their processes, while most organisations were still combining automated tools with manual workflows.
How finance automation differs from traditional accounting
Traditional accounting relies heavily on manual processes, spreadsheets and periodic reviews. Finance automation replaces many repetitive tasks with connected digital workflows.
Manual data entry vs automatic data capture
Manual data entry is one of the most time-consuming parts of accounting. Employees often need to copy information from invoices, receipts or bank statements into accounting systems. This process is not only inefficient but also vulnerable to mistakes.
Automatic data capture allows software to extract and process financial information without manual input. Receipts, invoices and transaction data can be recognised and transferred directly into the relevant systems, so that accountants only need to double-check instead of doing everything on their own.
Spreadsheet-based vs automated workflows
Spreadsheets remain widely used in finance because they are flexible and familiar. However, they can create challenges when multiple employees, departments or locations need to collaborate. Cash management automation connects financial processes in a central platform: Data updates automatically, while tasks can be assigned clearly.
Manual vs automated approvals
Traditional approval processes often depend on emails, paper documents or manual follow-ups. This can slow down payments and create uncertainty about the status of requests. Automated approval flows define clear rules based on factors such as payment amount, department or business location. Requests are automatically forwarded to the right person, while finance teams maintain full control.
Periodic vs real-time reporting
Traditional reporting usually takes place at fixed intervals, such as monthly or quarterly. By the time reports are completed, financial information is already outdated. Finance automation enables real-time financial insights by continuously updating transaction data and connecting different financial systems.
Finance automation: Best practices
Successful finance automation starts by identifying repetitive processes where digital solutions can create measurable improvements. Companies should focus on areas such as international payments, currency management, expense handling and financial reporting.
amnis’ customer stories show how businesses use automation to simplify financial operations:
Charterama: The international marine insurance provider processes thousands of international payments per year across multiple continents. Through accounting integration with Exact Online, 100% of payments, FX transactions and card expenses are synchronised automatically. The company reduced international payment fees by over 50% and saves around €25,000 annually.
Algrano AG: Operating across 30+ countries, the coffee marketplace automated international payment processes with amnis. By using local payment routes for GBP and USD transactions, the company eliminated costly SWIFT fees and achieved five-digit annual savings on FX and payment fees. In addition, more than 30 employee debit cards further facilitate expense management and receipt collection.
Luxury-safari.travel: Managing supplier payments across 11+ countries in Africa, the travel company uses automated currency management and multi-currency cards to control international expenses. With amnis, the company completes 10+ FX deals per month while avoiding upfront deposits on forward contracts.
Common challenges of finance automation
Although finance automation offers significant benefits, successful implementation requires more than simply introducing new software. Companies need to consider technology, processes and people to ensure automation creates real improvements rather than additional complexity.
The most common challenges include:
Employee adoption and finance team readiness: Employees who are used to spreadsheets may need some time to adapt to financial process automation. According to a 2024 survey by Gartner, finance leaders identified inadequate data quality and availability as well as a lack of technical skills as the two biggest challenges when adopting AI and automation technologies.
Integration with existing finance systems: Many companies rely on multiple tools for accounting, banking, payments, ERP and expense management. Without proper integration, automation can create new data silos instead of eliminating manual work. A 2025 finance automation survey by Lucanet found that 28% of finance teams still rely heavily on manual consolidation processes, while only 2% reported fully automated consolidation.
Data quality and process standardisation: Automation depends on reliable financial data. Inconsistent formats, outdated information or unclear workflows limit the effectiveness of automated solutions.
Security and compliance requirements: Finance automation involves sensitive information such as payment data, supplier details and financial reports. Companies must ensure that automated solutions provide appropriate access controls.
Scalable solutions: A solution that works for a small finance team may not support future growth. Companies should therefore select platforms that can handle multiple currencies and additional integrations as their operations expand.
How to start automating finance processes
Finance automation does not need to happen all at once. Companies can begin with individual processes and gradually expand automation across their financial operations.
Step 1: Identify repetitive tasks
Start by analysing daily finance activities and identifying tasks that require frequent manual work. Common examples include data entry, payment preparation, expense processing and reporting.
Step 2: Prioritise high-impact areas
Not every process has the same automation potential. Focus first on areas where automation can save the most time, reduce errors or improve financial visibility.
Step 3: Choose integrated solutions
Select tools that connect with existing accounting systems, banking platforms and business software. Integration ensures that financial data flows automatically between systems.
Step 4: Measure improvements
Track the impact of automation by measuring saved time, reduced errors and faster processing. Key performance indicators include:
Time spent on manual accounting tasks (hours per week/month)
Payment processing time (from approval to execution)
Error rate (duplicate payments, incorrect entries or reconciliation errors)
Month-end close duration (number of days to complete financial close)
Real-time reporting availability (access to live financial data)
Employee productivity (transactions or invoices processed per finance employee)
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Managing finances across multiple currencies and payment systems can become complex as businesses grow internationally. With amnis, companies can simplify financial operations through automated workflows, multi-currency management and integrated payment solutions.
Finance automation uses software and digital technologies to simplify financial processes that are traditionally handled manually. It covers areas such as automated foreign currency exchange, expense management and the connection between accounting software, banking platforms, payment providers and ERP systems.
Companies can reduce accounting work by up to 50% by replacing repetitive manual tasks with connected digital workflows. The exact saving depends on transaction volume and how many systems are integrated. amnis customer Charterama, for example, reduced its international payment fees by over 50% and saves around €25,000 a year.
Start with repetitive tasks that require frequent manual work, such as data entry, payment preparation, expense processing and reporting. Then prioritise the areas where automation saves the most time, reduces the most errors or improves financial visibility.
Traditional accounting relies on manual data entry, spreadsheets and periodic reviews. Finance automation replaces these with automatic data capture, a central platform instead of scattered spreadsheets, rule-based approval flows instead of email follow-ups, and real-time reporting instead of monthly or quarterly closes.
The most common challenges are employee adoption and finance team readiness, integration with existing finance systems, data quality and process standardisation, security and compliance requirements, and choosing a solution that scales as the business grows.
Track time spent on manual accounting tasks, payment processing time, error rate, month-end close duration, real-time reporting availability and employee productivity measured as transactions or invoices processed per finance employee.
Elena Tankovski · Content Marketing Manager
As Senior Content Writer at amnis, Elena transforms complex finance topics into clear, insightful content for SMEs. She focuses on areas such as the FX market, international payments, cross-border business operations, and regulatory updates - ensuring companies have access to reliable and easy-to-understand guidance.
With a strong background in research and communication, Elena plays a key role in helping businesses stay informed, make smarter decisions, and navigate the evolving world of international finance.
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