AvidXchange Survey Highlights Enhanced Finance Team Readiness
In a recent report from AvidXchange, a renowned name in accounts payable automation, it was revealed that finance teams are feeling significantly more equipped to tackle economic challenges than they did just a few years ago. The findings of the 2025 Economic Sentiment Survey, which gathered insights from 709 finance professionals, indicate a notable shift in preparedness due to increased technological investments and valuable experience gained over the years.
Preparation Levels on the Rise
A striking 67% of survey respondents expressed that they feel more prepared to navigate today’s volatile economic landscape compared to the situation in 2020. This confidence stems from not only a greater investment in technology but also from facing the dynamic market shifts head-on. In light of inflation and supply chain obstacles, finance teams are increasingly relying on digital solutions to maintain agility and responsiveness.
The Economic Landscape
Despite this growing confidence, many finance professionals continue to grapple with lingering economic concerns. An overwhelming 86% articulated worries regarding the current economic conditions, with nearly half resorting to cutbacks in discretionary spending. Alarmingly, half of those surveyed shared they are 'very concerned' about the possibility of a recession, with 22% predicting it could occur within the next year.
Financial planning is also experiencing shifts due to external factors:
- 83% of respondents reported increases in supplier costs due to inflation.
- 52% adjusted their forecasts in response to tariff impacts.
- A significant portion, nearly one in three, has begun passing on these increased costs to customers.
Such data illustrates a persistently unstable market, escalating the need for finance leaders to respond with agility and strategic foresight.
The Role of Technology in Financial Confidence
As economic uncertainties linger, the investment in technology has emerged as a key driver of confidence among finance teams. Seven out of ten finance professionals believe that technology is essential for adapting to ever-changing circumstances. Notably, 72% of these professionals feel that the tools they implemented during the early days of the pandemic are yielding positive results today.
Focus Areas for Innovation
A robust 49% of the finance personnel surveyed stated they are now more inclined to invest in automation and artificial intelligence due to the prevailing economic unpredictability. Key areas of investment include:
- AI and machine learning (48% of respondents)
- Data security and compliance tools (44%)
- Collaboration and workflow enhancement tools (36%)
These proactive measures reflect finance teams’ intent not merely to reduce costs but to enable quicker and smarter decision-making processes within their organizations.
Finance Professionals as Strategic Contributors
The survey results suggest a paradigm shift in the perception of finance professionals—from a traditional support role to one of strategic leadership. Nearly 30% of teams are now engaging in scenario planning and financial modeling, and 27% are prioritizing robust supplier relationships, indicating a forward-looking, proactive strategy.
Equipped with superior tools and a broader scope of responsibilities, finance leaders are increasingly influencing business trajectories, fostering resilience and growth.
Positive Momentum Amid Challenges
Although 52% of respondents anticipate continued volatility into the future, the sentiment around finance's evolving role is one of optimism and momentum. The finance professionals are shifting from reactive responses to proactive strategies, fulfilling their role as guardians of strategy, stability, and innovation.
“Finance teams are not merely adapting to the current environment—they are planning smarter, automating processes faster, and driving strategic decisions that influence the entire business landscape,” shared Dan Drees, President at AvidXchange. This sentiment underscores the growing recognition that technology is a vital tool for companies striving to enhance efficiency and stimulate growth.
Frequently Asked Questions
What did the AvidXchange survey reveal about finance teams' preparedness?
The survey highlighted that 67% of finance professionals feel more prepared to face economic challenges than they did in 2020, largely due to technology investments.
Which economic concerns are finance professionals most worried about?
A significant 86% expressed concerns about the current state of the economy, with worries about recession and inflation driving their fears.
How is technology influencing finance operations?
Technology investments have empowered finance teams, with 70% indicating it is critical for responding to changing conditions effectively.
What innovations are finance professionals focusing on?
Finance teams are increasingly looking to invest in AI, machine learning, data security, and collaboration tools to bolster their operations amidst uncertainty.
How is the role of finance professionals changing?
Finance professionals are transitioning from operational roles to strategic leadership positions, actively contributing to business direction and planning.
