Despite significant strides in document automation, a new report from IDP vendor Rossum finds that 58% of finance leaders still consider Excel their most often used tool for automating financial tasks, underscoring the challenges enterprises face in adopting advanced automation solutions.

Based on survey data from over 470 finance executives across the US, UK, and Germany, the Document Automation Trends 2025 report highlights that cost is the most significant barrier to implementing automation in finance operations, with 32% of leaders identifying it as a top challenge.

Additional hurdles include complex tools, poor integration, and lengthy onboarding times, revealing the considerable obstacles finance teams face as they strive to modernize their processes.

Key Findings from Document Automation Trends 2025 include:

Excel’s Persistent Grip on Finance Automation: Despite the availability of advanced automation platforms, Excel remains the dominant automation tool for 58% of finance leaders. This reliance points to a gap between awareness and action, leaving untapped opportunities for efficiency and digital transformation within finance departments.

Cybercriminals Are Adapting Faster Than Enterprises: As technology advances, finance leaders are increasingly aware of the risks associated with cybercrime. The report reveals that 27% of respondents feel the risks outweigh the benefits of AI and automation in finance. This finding underscores the urgent need for AP departments to adopt AI-powered defenses and proactive cybersecurity measures to safeguard against evolving fraud tactics.

Self-Perception as "Luddites" Among Finance Leaders Hinders Innovation: The survey reveals a concerning condition: 46% of finance leaders label themselves or their departments as “Luddites,” reflecting a reluctance to embrace automation and innovation. With finance roles rapidly evolving beyond traditional bookkeeping, this mindset poses a significant barrier to progress. To unlock the full potential of automation, finance leaders must shift toward a proactive, innovation-driven approach, positioning themselves as strategic partners in driving business success.