Automation can redefine finance jobs for the better

By Tim Stuart, Chief Financial Officer, Ricoh Europe

Entry-level finance roles within businesses are proving harder than ever to fill. Applications to accountancy programmes are at historic lows, and finance leaders are warning of a growing shortage of skilled talent. For many young professionals, especially Gen Z, the prospect of spending their first years buried in spreadsheets and repetitive data entry can be seen as far from appealing.

Retention of new talent is a challenge, too, especially in Accounts Payable (AP) and Accounts Receivable (AR) roles, where the monotonous workload can drive disengagement. Research shows AP teams spend between 60 and 70% of their time on manual data entry and follow-up, which can so often feel like there is limited opportunities for both career development and personal growth. So, it comes as little surprise that turnover can be high. But when replacing one employee can cost an organisation in Europe approximately €10,600 each, finance teams cannot afford to lose the attrition battle.

At the same time, governments across Europe are continuing to roll out e-invoicing mandates, requiring businesses to digitise transactions to improve tax compliance. Germany introduced mandatory B2B e-invoicing in January 2025, with Spain and France set to follow in 2026. Even in the UK, companies that operate internationally will need to comply with the rules. For finance teams still reliant on paper or predominantly manual processes, these deadlines create additional pressure to modernise.

These twin challenges – a talent shortage and regulatory demand for digitisation – can seem daunting. Yet they point to the same solution; by embracing automation, finance leaders can meet compliance requirements while also making roles more meaningful and appealing to the next generation of professionals.

Regulation is driving change

Mandatory e-invoicing is one of the most significant changes to European finance in decades. Each member state is setting its own timeline, which in turn creates a complex patchwork of compliance requirements.

This means businesses must replace manual workflows with standardised electronic systems or risk fines and reduced visibility over cash flow. For many finance teams, this will transform how they work. Processes that have previously gone unchanged for years will no longer be viable.

Compliance may be the immediate driver for automation, but it also creates an opportunity to go further. By embracing automation, finance leaders can improve accuracy and visibility across the function. Crucially, they can also make roles more engaging for the next generation of professionals by removing the need for repetitive and manual tasks.

Redefining finance roles

It is often assumed that AP and AR roles will be cut as automation spreads, but the reality is somewhat different. Without automation, these roles remain repetitive and hard to retain. With automation, they become more attractive, with space for people to build skills and focus on value-add work. Instead of focusing on invoice entry and reconciliations, employees can work on supplier relationships, cash flow forecasting and business partnering. These are areas where human skills like judgement, analysis and collaboration are essential.

Younger generations want to work in roles where they can make an impact and feel purpose, not spend months reconciling invoices. If finance continues to be defined by manual admin, it will struggle to attract this generation of talent. By removing low-value tasks, automation allows new joiners to take on more meaningful projects from day one. That strengthens both talent attraction and retention – for all generations.

Productivity and morale are at stake

For employees, the benefits of automation go beyond removing repetitive tasks – it directly affects how fulfilled they feel at work as well as how impactful they feel their contribution at work is.

Ricoh Europe’s recent research shows finance directors cite underinvestment in process automation as one of the top barriers to employee productivity, alongside outdated collaboration tools and high growth targets. Employees – of all ages – share the frustration. A third of European employees say they lack access to the automation technologies they want, leaving them stuck with manual processes that add little value and increase the risk of error.

Finance leaders also recognise that heavy administrative workloads are damaging morale and leaving employees unfulfilled. This is not a minor issue. Disengagement feeds turnover, and turnover is expensive. Encouragingly, more than of a third of financiers now say they are prioritising investment in automation tools that make their teams’ jobs easier, which fundamentally allows them to find fulfilment through work- an encouraging sign for employers and employees alike.

A more attractive future

The future of finance will not be defined by the number of invoices processed but by the insights delivered and the partnerships created. Automation will be the enabler of this transformation to let people succeed at work. Far from removing finance jobs, it is saving them by making roles more meaningful and attractive to the talent every business needs.

For finance leaders, the choice is clear. Automation is not just a compliance requirement or an efficiency tool. It is a way to secure the people, skills and resilience needed for the years ahead.