AvidXchange 2025 Trends Survey Reveals Finance Leaders’ Top Priorities

Rhea-AI Summary

AvidXchange's 2025 Trends Survey reveals top priorities for finance leaders in the coming year. Key findings from 500 middle market finance leaders highlight:

1. AI and ROI: 76% recognize AI's value, but 71% struggle with measuring ROI.
2. Security: The top concern, with over 75% experiencing or detecting cyberattacks in the past year.
3. Cloud Adoption: 76% view cloud-based technology as critical or favorable.
4. Evolving Finance Function: 87% report new responsibilities like data analytics and strategic advisory roles.

The survey emphasizes the need for employee training in AI, increased cybersecurity measures, and the growing importance of data-driven insights in business growth and operational efficiency.

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This year’s survey highlights leaders’ focus on AI, Cybersecurity, and more for the coming year.

CHARLOTTE, N.C., Sept. 17, 2024 (GLOBE NEWSWIRE) -- AvidXchange, Inc., a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced the results of their 2025 Trends Survey, highlighting the top priorities and concerns of finance leaders looking ahead to the new year. After polling 500 middle market finance leaders in August 2024, key findings revealed continued focus on security, increasing use of cloud-based solutions, and desire to realize return on investment from AI initiatives.

AI and ROI
According to the survey, 76% of finance departments recognize the value of using AI within their finance department to improve efficiency and decision-making. In spite of this, 71% of finance leaders have concerns about measuring the return on investment from their AI initiatives, emphasizing the need for employee training and upskilling programs to maximize benefits.

Security Remains a Key Focus Area
Security, including fraud and phishing attempts, is the number one concern for the majority of finance departments as they prepare for 2025. The survey showed that more than three quarters of finance departments have either fallen victim to or detected cyberattacks in the past year. This rise in cyberattacks along with concerns of fraudsters beginning to leverage advanced technologies, such as AI-generated deepfakes and voice cloning, has resulted in an intensified focus from finance departments to increase cybersecurity measures to make sure their organizations are protected.

Cloud Adoption Expands
With a focus on centralizing processes and supporting remote and hybrid work models, finance departments are continuing to reevaluate their cloud usage. 76% of finance leaders view cloud-based technology as critical or favorable to their operations, and only 4% indicated that none of their finance work is currently conducted in cloud-based technologies, representing a trend towards solutions that offer the flexibility and security needed for modern work environments.

The Finance Function Is Evolving
Financial professionals have seen their scope expand as the finance function continues to evolve with 87% of survey respondents reporting new responsibilities such as data analytics, financial technology integration, and strategic business advisory roles. Through the use of data-driven insights, finance teams are becoming an increasingly important influence on business growth and operational efficiency.

"As we enter 2025, the finance landscape continues to rapidly evolve,” said Dan Drees, President of AvidXchange. “From the rise of AI to increased cybersecurity risks, to the adoption of cloud-based technology, finance leaders must stay agile. At AvidXchange, we are committed to being a trusted partner that empowers our customers to navigate these trends with confidence through innovative solutions that will set them up for success in the long term.”  

To read the full list of 2025 Trends, visit www.avidxchange.com/resources/2025-finance-trends/.

About AvidXchange
AvidXchange is a leading provider of accounts payable (“AP”) automation software and payment solutions for middle market businesses and their suppliers. AvidXchange’s software-as-a-service-based, end-to-end software and payment platform digitizes and automates the AP workflows for more than 8,000 businesses and it has made payments to more than 1.2 million supplier customers of its buyers over the past five years. To learn more about how AvidXchange, and its publicly traded parent AvidXchange Holdings, Inc. (Nasdaq: AVDX), are transforming the way companies pay their bills, visit www.avidxchange.com.

Media Contact:
Kevin Logan
Manager of Corporate Communications
AvidXchange
pr@avidxchange.com

FAQ

What are the key findings of AvidXchange's 2025 Trends Survey for finance leaders?

The key findings include a focus on AI implementation and ROI measurement, increased concern for cybersecurity, expanded cloud adoption, and the evolution of finance roles to include data analytics and strategic advisory responsibilities.

How many finance departments have experienced cyberattacks according to the AvidXchange (AVDX) survey?

According to the survey, more than three quarters (over 75%) of finance departments have either fallen victim to or detected cyberattacks in the past year.

What percentage of finance leaders view cloud-based technology as critical or favorable in the AvidXchange survey?

The survey reveals that 76% of finance leaders view cloud-based technology as critical or favorable to their operations.

How many finance leaders in the AvidXchange (AVDX) survey report new responsibilities in their roles?

87% of survey respondents report new responsibilities such as data analytics, financial technology integration, and strategic business advisory roles.

What is the main concern for finance departments preparing for 2025, according to the AvidXchange survey?

Security, including fraud and phishing attempts, is the number one concern for the majority of finance departments as they prepare for 2025.