Finance departments are facing unprecedented stress as shifting business priorities, tighter budgets, and evolving technology demands reshape their roles, according to findings from The 2024 Yooz Survey: Beyond the Balance Sheet. The survey, conducted by Yooz in collaboration with Pollfish, surveyed 500 U.S. finance professionals and highlights the impact of economic pressures on their work-life balance, with 88% of finance professionals experiencing significant stress. Furthermore, 74% reported working overtime regularly, and over two-thirds are frequently preoccupied with work during personal time. These pressures are intensified by limited budgets, which hinder 92% of finance teams from reaching strategic goals, exacerbating stress due to operational constraints.
Automation emerged as a critical solution, with 70% of respondents stating it could help reduce stress and improve efficiency. However, collaboration between finance and IT departments presents challenges, as 65% of finance professionals report issues like red tape and misalignment between leadership roles. Yooz CEO Laurent Charpentier emphasizes that leaders must view automation as a strategic tool to support finance teams. The survey recommends that organizations improve cross-departmental collaboration, streamline communication, and increase investment in fintech to alleviate workload pressures, support strategic outcomes, and prioritize employee well-being.
