Saturday, 15 March 2025
Nearly 40% of CFOs in Poland have identified economic uncertainty as the biggest challenge for 2025, according to a new KPMG report prepared in collaboration with ACCA. The report, titled “Modern CFO in a Transforming Company”, highlights key concerns among finance leaders, including supply chain management, legal regulations, and talent management.
However, despite these challenges, CFOs see a silver lining in the digitization and automation of finance. According to the report, nearly half of the surveyed CFOs pointed to invoicing, payment processing, and accounting as the areas with the greatest potential for automation in the coming year. Implementing modern technologies in these processes could result in significant cost savings and improved accuracy in financial operations.
“Digital technologies are revolutionizing the finance sector. Tools like artificial intelligence (AI), machine learning, and advanced data analytics allow for more effective financial management and real-time decision-making,” said Agnieszka Jarosz, Managing Director of ACCA for Eastern and Northern Europe. “As these tools evolve, the digital skills required of CFOs are expanding. CFOs must now manage not only finances but also the technology that supports their business activities.”
Despite this optimism about automation, the report revealed that many companies still face obstacles in implementing new technologies. Two-thirds of CFOs admitted that they have not yet automated their tax processes. The most frequently cited barriers were challenges in integrating new systems with existing IT infrastructure (39%) and frequent changes in tax legislation (37%).
In the area of transfer pricing, less than 20% of companies plan to automate these processes in the next 12 months, indicating that many firms still rely on traditional solutions. The slow pace of adoption reflects the broader hesitation around technological transformation in finance.
One growing area of concern is non-financial reporting, particularly around environmental, social, and governance (ESG) standards. Although EU regulations are becoming more stringent, 42% of companies in Poland neither report nor monitor non-financial indicators. Furthermore, those that do engage in ESG reporting are primarily those required to comply with the EU’s Non-Financial Reporting Directive (CSRD). Of the companies that do report ESG metrics, 40% cited challenges with data transparency and accuracy.
Artificial intelligence is also emerging as a critical tool in financial transformation, but adoption remains slow. Only 7% of Polish companies have fully implemented AI in their financial processes, a delay compared to other digital solutions. However, 29% of companies are in the early stages of AI adoption, while 40% are either in the process of prototyping or planning to implement AI.
The primary benefits CFOs see in AI include enhanced accuracy and more complex data analysis, with 42% of respondents highlighting these as key advantages. AI also offers opportunities to automate routine financial tasks like invoicing and accounting, improving operational efficiency. Yet, many companies are held back by concerns over the transparency of AI algorithms and a lack of qualified personnel to manage these systems.
The KPMG survey was conducted in August 2024 using telephone interviews with 150 senior finance leaders across industries, including construction, real estate, energy, pharmaceuticals, IT, and logistics. The findings provide a comprehensive snapshot of the opportunities and challenges facing CFOs as they navigate a rapidly transforming business environment.
Source: KPMG
