Data from the 2022 Fintech Barometer by Visma | Onguard discovers technology is still a fundamental barrier to effective remote working.
Amsterdam, 9 April 2022 – 50% of UK financial professionals working from home are encountering challenges due to missing systems or software that they wouldn’t have otherwise faced while being in the office. This is according to findings by Visma | Onguard in its 2022 Fintech Barometer. Now in its fifth year of gathering data-related insights in the finance sector.
Further stats from the research discovered that 53% of companies have not implemented a specialist software solution. This is to support the financial department while working away from the office. Additionally, almost one-in-five (19%) organisations are reluctant to implement such solutions at any point in the future. Meaning that this situation appears unlikely to change for many businesses. A further 29% of respondents acknowledged that they lack the right technology to make data optimally available. Thus creating a barrier to becoming data-driven in the years ahead.
With financial professionals held back while working from home, missing systems could be problematic for long-term productivity and efficiency. This, due to the continued tendency for organisations to adopt hybrid and home working strategies. As pandemic-related government restrictions ease, almost a quarter of professionals (24%) are working at least 61% at home.
In a post-pandemic world, it is crucial that financial professionals can access data from anywhere. This ensures that all important customer requirements are met. “With organisations committing to remote and hybrid working strategies moving forward, it’s a concerning statistic that so many professionals are unable to access the data they need to provide a positive customer experience. This is also likely to have a negative impact on employee morale and resultant wellbeing while completing tasks remotely. By adopting a centralised cloud-based financial management platform, organisations can bring disparate data sources together. This allows them to access the data from any location and ensures employee satisfaction,” said Kim Philippi, HR Team Lead at Visma | Onguard.
About the research
Every year, Visma | Onguard investigates how financial professionals view the current trends and developments: Fintech, big data, digital transformation and data-driven. This research is called the FinTech Barometer and is conducted both in the Netherlands – through research agency Markteffect – and in the United Kingdom – through research agency Censuswide. At least one hundred of the respondents work as chief financial officer (CFO) and another two hundred as financial employees in an organisation with at least one hundred employees.