Finance functions are at a crossroads. The promise of autonomous finance—where AI and automation manage core processes with minimal human touch—is closer than ever. From robotic process automation in invoice management to AI-driven forecasting and decision-making, the building blocks are already here. Generative AI tools like ChatGPT, Claude, and Copilot have accelerated the adoption of autonomous finance, turning experimental use cases into mainstream possibilities.

GenAI is redefining what autonomous finance can mean. At the most basic level, it automates content creation: for example, the generation of monthly account statements or customer communications from transaction data. GenAI also interprets patterns in financial and operational data, transforming how finance functions operate by offering recommendations, predicting risks, and executing routine decisions in accordance with pre-approved rules. This AI-driven approach to finance represents a fundamental shift in how financial organizations operate. The most advanced stage combines GenAI with agentic AI, enabling adaptive, multi-source decision-making—such as monitoring regulatory updates, interpreting compliance implications, and filing required documents with minimal human oversight. For finance leaders, this represents a seismic shift – moving from tools that simply process transactions faster to platforms that actively shape strategy and risk management in real time.

Yet, despite the potential, autonomous finance transformation isn’t simple. Many organizations pursuing AI-driven finance stall, held back by barriers that prevent GenAI adoption at scale. The question isn’t whether autonomous finance is achievable; it’s whether companies can break free from legacy constraints to seize opportunities.

GenAI works in combination with agentic AI, enabling adaptive, multi-source decision-making. This includes monitoring regulatory changes, assessing compliance implications, and even initiating required filings with minimal human oversight.

• Leadership Reluctance and Governance Gaps: Risk sensitivity is deeply embedded in financial leadership, constrained by compliance and capital stewardship. But this responsibility often fuels excessive caution. Sixty percent of CFOs cite governance gaps—fragmented pilots, unclear ownership, and untested controls—as the top barrier to adoption, while governance gaps further delay adoption. The result is hesitation to scale, even when pilots succeed.
• Legacy Systems and Data Deficiencies: With up to 70 percent of IT budgets consumed by legacy platforms, funding for innovation is scarce. Legacy environments block integration and keep data trapped in silos, eroding quality and consistency. 35% of CFOs cite poor data quality as the biggest hurdle to AI adoption, making scalable automation nearly impossible.
• Talent and Change Management Shortfalls: Autonomous finance requires new skills and new ways of working. Seventy-seven percent of CFOs cite a lack of digital skills, while more than half identify talent shortages. Without structured change management, the benefits of automation never stick—leaving productivity gains unrealized.

Succeeding in autonomous finance requires strategic balance across risk, modernization, and people.

De-Risk and Govern for Scale. Build cross-functional innovation teams that include finance, legal, IT, and risk from the start to avoid implementation roadblocks. Demonstrating ROI through controlled pilots builds confidence, while establishing an automation center of excellence clarifies ownership, enforces standards, and accelerates enterprise-wide adoption.

Modernize and Strengthen Data Foundations. Reliable data is the fuel for faster, more accurate decision-making, especially critical for GenAI applications in finance, where poor data can amplify errors at scale. Rationalize and shift toward modular, API-first systems to prepare for technology transformation. Cloud-based platforms, paired with data lakes and data fabrics, ensure consistent, high-quality data that automation can trust.

Restructure and Upskill Talent. Treat change management as a must-have, not a nice-to-have, to put your people first. Redeploy finance professionals into higher-value roles, embed digital skills training, and weave change adoption into every phase of the journey. This ensures the workforce evolves alongside technology  enabling a “people in the loop” approach and fully leveraging GenAI and finance-driven insights and recommendations.

Organizations succeeding in autonomous finance transformation are realizing measurable gains. Month-end reporting cycles can be shortened by 30-50% through GenAI-powered reconciliations. GenAI-enabled predictive analytics enhance forecasting accuracy while intelligent automation handles routine workflows. Finance automation has dramatically reduced invoice processing times, with 40-60% fewer manual touches enabled by RPA and smart automation. Operating costs drop by 20 to 35 percent as finance automation powered by GenAI enables finance teams to shift from transactional work to strategic priorities. These gains also translate into improved compliance, stronger data quality, and real-time forecasting, enhancing agility and decision-making.

Those who get it right aren’t just optimizing processes—they’re transforming the role of finance. Finance teams gain the ability to:

• Redirect focus to strategy and value creation – Freed from manual reconciliations and error-prone data entry, professionals can focus on investment analysis, scenario planning, and business partnership.
• Enhance resilience – GenAI and Adaptive AI models can monitor regulatory, market, and supply chain signals in real time, enabling finance to anticipate risks and adjust course before disruptions escalate.
• Unlock new growth capacity – With finance automation scaling workloads, leaders can pursue mergers, expansions, and digital business models without proportionally increasing staff or costs.
• Elevate credibility with stakeholders – Reliable data pipelines and transparent AI-supported insights build confidence in reported results and forward-looking guidance among boards, regulators, and investors.

The transformation goes beyond efficiency. It reshapes finance into an engine of agility and foresight. With automation as the driver, finance evolves from being a recorder of history to a real-time navigator of the future—proactively steering decisions rather than simply validating them.

ScottMadden recently supported a Fortune 100 energy company in transforming its finance and accounting function toward autonomous finance capabilities. To support the organization’s growth amid regulatory demands, ScottMadden was engaged to automate key processes, enhance data governance, and shift focus to strategic analysis. The objective of the transformation was to identify opportunities to centralize, automate, and outsource work to reduce costs and improve service levels.

The results:

• $30 million in savings through error correction in nearly 20 percent of accounting journal entries
• $8 million in staffing savings by redefining more than 450 positions without sacrificing productivity
• Strengthened governance model to include improved line management accountability, reduced layers and spans of control, and stronger central governance and oversight
• 100 processes identified for further automation

The road to autonomous finance isn’t linear, and it isn’t one-size-fits-all. ScottMadden partners with clients to navigate barriers with confidence. Some examples include:

• Conduct functional assessments and planning
• Develop strategic and implementation roadmaps
• Define use cases and build
• Lead ERP modernization initiatives
• Establish automation governance frameworks
• Embed change management to sustain momentum

We’ve helped Fortune 100 enterprises and midsize innovators alike capture millions in savings, streamline operations, and strengthen governance—all while equipping finance teams for the future.

The barriers to autonomous finance and digital transformation are real, but they’re not permanent. The path forward is clear: reframe the obstacles as opportunities and turn hesitation into acceleration.