Research

How Manual Processes Are Draining Banks: The Hidden Costs of Financial Reporting

Despite advances in technology, many banks still rely on manual processes for financial reporting, which is costing them both time and money. A report researched and compiled by the Center for Financial Professionals and commissioned by Workiva, found that these inefficiencies not only hinder operational performance but also expose institutions to regulatory risk. Automating reporting tasks could alleviate some of these burdens.