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Yahoo
29-05-2025
- Business
- Yahoo
In assembling finance teams, Excel expertise still trumps AI skills
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. While finance departments are placing increased value on artificial intelligence and machine learning, skills in those areas are, at least for now, unlikely to be the determining factor in a professional landing a job or getting a promotion. In a survey of 218 finance leaders by Vena Solutions, which provides an AI-powered FP&A platform for users of Microsoft technology, 57% said their teams are using AI to handle various operations, such as data entry, reconciliations and forecasting. That proportion will rise, as an additional 21% said they've acquired AI solutions but not yet adopted them. However, when asked to identify the single most important skillset to prioritize in building a strong finance team, only 4.6% of those polled selected AI/machine learning. Three times that many (14.7%) picked advanced knowledge of a much older technology: Excel. This embedded content is not available in your region. Despite the growing adoption of AI tools, 'Excel remains the workhorse many teams rely on to power or supplement [their] capabilities and automation solutions,' said Craig Schiff, CEO of BPM Partners, a business performance management advisory firm that collaborated on the survey with Vena. The research found that 89% of finance teams rely on Excel even if they have planning software in place. That almost surely will change as well, whether gradually or quickly. Accordingly, companies are incorporating AI experience, programming know-how and data analytics skills into finance roles. The Institute of Chartered Accountants, for its part, listed AI integration as a critical skill for accountants in 2025. It's no secret that as reliance on AI becomes more mainstream, some financial professionals may be understandably wary of the perceived possibility that it will eventually automate them out of their jobs. Vena has a different take. With technology handling routine processes, the company said in its survey report, 'finance roles can shift away from bookkeeping and traditional accounting. Instead, professionals are expected to provide strategic insights, model scenarios and guide business decisions.' The key applications for AI in finance include predictive analytics, financial planning and risk management, fraud detection, data visualization and analysis and process automation. But certain responsibilities remain beyond AI's reach. Vena noted that strategic decision-making 'requires human judgment, intuition and a deep understanding of business priorities.' AI cannot replace creative problem-solving, relationship management or business partnering. Indeed, 72% of survey respondents reported plans to expand their teams in 2025. Vena called that finding a clear indicator of the pressure teams are under to meet increasing workload demands. At the same time, even if AI doesn't push accountants out of their jobs, roles will continue to evolve. Those who embrace AI and automation will ultimately have a competitive edge in the workforce, according to researchers. Recommended Reading Only 23% of FP&A practitioners are using AI Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
29-04-2025
- Business
- National Post
AI Adoption Surges, but Planning Gaps Persist: Vena's 2025 Industry Report Reveals What's Next for FP&A Teams
Article content Article content 57% of finance teams are using AI, but most still face major challenges with data silos, manual workflows and operational maturity Article content Vena, the only agentic AI-powered FP&A platform purpose-built to fully amplify the Microsoft technology ecosystem, today released its 2025 State of Strategic Finance industry report, revealing that while finance teams are embracing AI and stepping into more strategic roles, most are still held back by fragmented data, manual workflows and uneven adoption of intelligent planning tools. Article content Developed in partnership with BPM Partners and based on a survey of over 200 senior finance professionals across North America, the report captures a profession in transition—optimistic and increasingly influential, but still in the early stages of realizing the full potential of AI-powered, integrated business planning. Article content 'Finance leaders today face growing pressure to provide insights amid volatile markets, rising data volumes and an accelerating business pace to help stakeholders address complex problems,' said Allison Munro, Chief Marketing & Ecosystem Officer at Vena. Article content 'Finance teams are stepping up to the challenge, but the report shows there's still work to be done, especially when it comes to system integration, deeper automation and the full adoption of agentic AI for real-time planning.' Article content Highlights from the 2025 Report Include: Article content AI Gains Ground, but Depth Still Lacking: While adoption is rising, most AI deployments remain limited to data analysis and reporting. Generative and agentic AI, which can surface important insights and answer complex questions from across the business to drive faster, more agile decision making, remains underutilized. Excel's Grip Remains Firm: Despite modern planning tools, 89% of finance teams still depend on Excel. The most cited planning challenge was poor integration between systems, named by 36% of respondents. Finance Is Now a Strategic Driver: 48% of finance teams are deeply embedded in business-wide strategic planning—up from 40% in 2022. Meanwhile, 92% of respondents feel confident in their team's ability to lead the business in its performance strategy in 2025. Headcount Is Stable—But Demand Is Rising: 81% said their team is adequately staffed, yet 72% plan to grow their finance headcount this year. While the exact drivers vary, 21% of respondents cited revising organizational design as a top operational priority, suggesting that how finance leaders structure and deploy talent is a key focus in 2025. Article content 'What stood out most this year is the shift in how finance teams are embracing AI,' said Craig Schiff, President and Lead Analyst at BPM Partners. 'Just a year ago, AI wasn't even on the radar for many teams—now it's a key purchase driver. But as adoption picks up, we're also seeing a widening gap between teams moving forward with meaningful AI initiatives and those still stuck in legacy workflows. Closing that gap will be essential to driving faster, more strategic decisions across the business.' Article content Building on the success of Vena Copilot for FP&A, which has been helping FP&A teams drive faster, more agile planning and strategic decision making since its debut at Excelerate 2024, Vena will be debuting its next wave of game-changing AI innovation in May at Excelerate Finance 2025. The next evolution of AI is here to unlock the power of FP&A across the business. Article content Article content Article content Article content Article content
Business Wire
29-04-2025
- Business
- Business Wire
AI Adoption Surges, but Planning Gaps Persist: Vena's 2025 Industry Report Reveals What's Next for FP&A Teams
TORONTO--(BUSINESS WIRE)-- Vena, the only agentic AI-powered FP&A platform purpose-built to fully amplify the Microsoft technology ecosystem, today released its 2025 State of Strategic Finance industry report, revealing that while finance teams are embracing AI and stepping into more strategic roles, most are still held back by fragmented data, manual workflows and uneven adoption of intelligent planning tools. Developed in partnership with BPM Partners and based on a survey of over 200 senior finance professionals across North America, the report captures a profession in transition—optimistic and increasingly influential, but still in the early stages of realizing the full potential of AI-powered, integrated business planning. 'Finance leaders today face growing pressure to provide insights amid volatile markets, rising data volumes and an accelerating business pace to help stakeholders address complex problems,' said Allison Munro, Chief Marketing & Ecosystem Officer at Vena. 'Finance teams are stepping up to the challenge, but the report shows there's still work to be done, especially when it comes to system integration, deeper automation and the full adoption of agentic AI for real-time planning.' Highlights from the 2025 Report Include: AI Gains Ground, but Depth Still Lacking: While adoption is rising, most AI deployments remain limited to data analysis and reporting. Generative and agentic AI, which can surface important insights and answer complex questions from across the business to drive faster, more agile decision making, remains underutilized. Excel's Grip Remains Firm: Despite modern planning tools, 89% of finance teams still depend on Excel. The most cited planning challenge was poor integration between systems, named by 36% of respondents. Finance Is Now a Strategic Driver: 48% of finance teams are deeply embedded in business-wide strategic planning—up from 40% in 2022. Meanwhile, 92% of respondents feel confident in their team's ability to lead the business in its performance strategy in 2025. Headcount Is Stable—But Demand Is Rising: 81% said their team is adequately staffed, yet 72% plan to grow their finance headcount this year. While the exact drivers vary, 21% of respondents cited revising organizational design as a top operational priority, suggesting that how finance leaders structure and deploy talent is a key focus in 2025. 'What stood out most this year is the shift in how finance teams are embracing AI,' said Craig Schiff, President and Lead Analyst at BPM Partners. 'Just a year ago, AI wasn't even on the radar for many teams—now it's a key purchase driver. But as adoption picks up, we're also seeing a widening gap between teams moving forward with meaningful AI initiatives and those still stuck in legacy workflows. Closing that gap will be essential to driving faster, more strategic decisions across the business.' Building on the success of Vena Copilot for FP&A, which has been helping FP&A teams drive faster, more agile planning and strategic decision making since its debut at Excelerate 2024, Vena will be debuting its next wave of game-changing AI innovation in May at Excelerate Finance 2025. The next evolution of AI is here to unlock the power of FP&A across the business. To download the full report, visit About Vena Vena is the only agentic AI-powered FP&A platform purpose-built to harness the full power of the Microsoft technology ecosystem for finance teams everywhere. Vena amplifies Microsoft's world-leading productivity tools, cloud technology and AI innovation to make FP&A, operational planning and adjacent strategic processes more flexible, efficient and intelligent. Thousands of the world's leading companies rely on Vena to power their planning. For more information, visit
