AvidXchange, a supplier of payment solutions and software for accounts payable automation for middle-market companies, announced the findings of their 2025 Trends Survey. The survey, conducted in August 2024 among 500 middle market finance leaders, identified key priorities and concerns as finance departments prepare for the new year. Notably, 76% of finance departments recognize the value of artificial intelligence in improving efficiency and decision-making, despite 71% of finance leaders expressing concerns about measuring the return on investment from AI initiatives. These concerns underline the necessity for employee training and upskilling programs to fully leverage AI benefits. Security remains a paramount concern, with over three-quarters of finance departments having encountered or detected cyberattacks in the past year. The rise in cyber threats, including AI-generated deepfakes and voice cloning, has led to an increased focus on enhancing cybersecurity measures.
The survey also highlighted the growing importance of cloud-based technology, with 76% of finance leaders viewing it as critical or favorable to their operations. Only 4% of respondents indicated that none of their finance work is conducted using cloud-based technologies, underscoring a trend towards adopting solutions that support remote and hybrid work models while providing necessary flexibility and security. Additionally, 87% of survey respondents reported expanding responsibilities such as data analytics, financial technology integration, and strategic business advisory roles, emphasizing the evolving scope of the finance function. Dan Drees, President of AvidXchange, emphasized the rapid evolution of the finance landscape and reaffirmed the company's commitment to empowering customers with innovative solutions to navigate these trends confidently.
