In today’s financial world, transparency and operational efficiency are top priorities for CFOs and finance leaders. This whitepaper, authored by Finalyzer, an expert in financial automation, examines the need to automate related party transactions (RPTs). Drawing on a survey of CFOs across multiple industries, it highlights the problems with manual processes and shows how automation can reduce risk and improve transparency.
This whitepaper examines why CFOs need to automate related party transactions, based on recent survey data from finance leaders. The findings show many still rely on manual procedures, which can lead to errors, inefficiency, and increased compliance risks. Automation offers an alternative that can improve accuracy, efficiency, transparency, compliance, and risk management. While CFOs recognize these benefits, they face obstacles in implementing automation, including budget limits, reluctance to change, and a shortage of suitable technology solutions. This paper argues that addressing these issues is essential for CFOs who want to update financial operations and shield their organizations from financial and reputational damage.
