ISG Report: Advances in Financial Software Boost Productivity and Compliance

Significant advances in software for managing and automating the financial record-to-report cycle are helping enterprises make their accounting operations more productive and resilient. The ISG Buyers Guides for Record to Report rank and rate 23 software providers and their products for financial recording and reporting. Innovations in several areas, including generative AI, are helping enterprises complete the process faster while complying with constantly changing regulations and accounting standards.

Significant advances in software for managing and automating the financial record-to-report (R2R) cycle are helping enterprises make their accounting operations more productive and resilient. The ISG Buyers Guides for Record to Report rank and rate 23 software providers and their products for financial recording and reporting. Innovations in several areas, including generative AI, are helping enterprises complete the process faster while complying with constantly changing regulations and accounting standards Innovation Speeding Up Accounting, Financial Processes, ISG Says^[1].

According to the ISG Buyers Guides, software providers are enhancing both record-to-report and financial consolidation software by incorporating advanced capabilities such as workflow automation, real-time integration with source systems, and the ability to use different accounting standards at each level and branch of the corporate hierarchy. These improvements facilitate smoother and more resilient consolidation processes.

The research highlights the use of AI technologies, including agentic and generative AI (GenAI), to streamline automation and workflow, ensuring regulatory compliance and increasing productivity. This enables finance and accounting departments to seize opportunities for improvements based on data insights.

ISG Software Research evaluated software providers across three platform categories—Record to Report, Financial Consolidation, and Financial Close—and produced separate Buyers Guides for each. OneStream emerged as the top Overall Leader across all categories, followed by BlackLine and Oracle. These providers were rated Exemplary, indicating their strong performance across multiple evaluation categories.

The ISG Buyers Guides are the result of more than a year of market and product research efforts and are designed to help enterprises optimize their business and IT software investments. The research is not sponsored by any software providers and aims to provide independent analysis.

For more information about the ISG Buyers Guides for Record to Report, visit the ISG Software Research website Innovation Speeding Up Accounting, Financial Processes, ISG Says^[1].