Modern automation and AI make software for record-to-report processes more efficient and adaptable amid evolving requirements, new research says

STAMFORD, Conn.--(BUSINESS WIRE)--

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, according to new research from global AI-centered technology research and advisory firm Information Services Group ( III ) .

The ISG Buyers Guides™ for Record to Report, produced by ISG Software Research, provide the rankings and ratings of 23 software providers and their products for financial recording and reporting. The research finds that enterprises are increasing technology investments across the full cycle of finalizing and summarizing corporate financial activities. Innovations in several areas, some based on generative AI, are helping enterprises complete the process faster while complying with constantly changing regulations and accounting standards.

"Managing the record-to-report cycle has become more demanding as enterprises look to streamline and shorten the process while dealing with evolving reporting requirements, diverse payment methods and the proliferation of legal entities," said Robert Kugel, executive director, Business Research, ISG Software Research. "The need to increase productivity in the face of staff shortages and hybrid working environments is driving demand for software."

Financial records consolidation is an intricate set of processes that must be performed in a prescribed order and manner. Though standard accounting and enterprise resource planning (ERP) platforms can do this, they may not be adequate for organizations that have accounting systems from multiple vendors or other complications, the research finds. Dedicated consolidation software streamlines the process by automating calculations, coordinating the execution of processes and facilitating communication among participants. Close management software enables timely and efficient completion of close cycle tasks.

Software providers are improving both types of 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, the research finds. Improved collaboration, with features including secure data sharing and centralized document storage, makes the consolidation process smoother and more resilient.

Advances based on AI technologies, including agentic and GenAI, are beginning to demonstrate how dedicated consolidation and close software can become even more compelling, the research finds. AI can help to streamline the automation and workflow to become more intelligent and ensure regulatory compliance. By increasing productivity, it can help finance and accounting departments seize opportunities for improvements based on insights in the data underlying financial reports.

For its 2025 Buyers Guides™ for Record to Report, ISG evaluated software providers across three platform categories — Record to Report, Financial Consolidation and Financial Close — and produced a separate Buyers Guide for each. A total of 23 providers were assessed: Anaplan, BlackLine, Board, FloQast, HighRadius, IBM, Infor, insightsoftware, insightsoftware IDL, Jedox, Lucanet, OneStream, Oracle, Oracle NetSuite, Planful, Prophix, SAP, Talentia Software, Trintech Adra, Trintech Cadency, Vena Solutions, Wolters Kluwer and Workday.

ISG Software Research rates software providers in seven evaluation categories. Five are related to product experience: usability, manageability, reliability, capability, and adaptability. Two are related to customer assurance: validation and total cost of ownership and return on investment (TCO/ROI). Providers ranked in the top three for each evaluation category are named as Leaders. Within each platform category, those with the most Leader rankings are named as Overall Leaders.

The Overall Leaders of the 2025 Buyers Guides for Record to Report were the following:

Record to Report: OneStream was the top Overall Leader, followed by BlackLine and Oracle. OneStream was designated a Leader in seven evaluation categories, BlackLine in three and Oracle in four. All three Overall Leaders were rated Exemplary. Board and Workday were rated Innovative.

Financial Consolidation: OneStream was the top Overall Leader, followed by Oracle and Board. OneStream was designated a Leader in six evaluation categories and Oracle in four. All three Overall Leaders were rated Exemplary, along with Anaplan, BlackLine, Prophix, SAP, Vena Solutions and Workday. Planful was rated Innovative.

Financial Close: OneStream was the top Overall Leader, followed by BlackLine and Oracle. OneStream was designated a Leader in seven evaluation categories, BlackLine in four and Oracle in three. All three Overall Leaders were rated Exemplary, along with Anaplan, Board and Prophix. FloQast and Workday were rated Innovative.

“Enterprises and finance organizations are taking a new look at how to modernize consolidation and close processing to making financial reporting more timely and impactful,” said Mark Smith, partner and chief software analyst, ISG Software Research. “This independent research analyzes the software landscape to determine what software is positioned to use AI most effectively to make accounting and finance even more efficient.”

The ISG Buyers Guides™ for Record to Report are the distillation of more than a year of market and product research efforts. The research is not sponsored nor influenced by software providers and is conducted solely to help enterprises optimize their business and IT software investments.

Visit this webpage to learn more about the ISG Buyers Guides™ for Record to Report and read executive summaries of each of the three reports. The complete reports, including provider rankings across seven product and customer experience dimensions and detailed research findings on each provider, are available by contacting ISG Software Research.

About ISG Software Research

ISG Software Research provides authoritative coverage and analysis of the business and IT software industry. It distributes research and insights daily through its user community, and provides a portfolio of consulting, advisory, research and education services for enterprises, software and service providers, and investment firms. Its ISG Buyers Guides™ help enterprises evaluate and select software providers through tailored assessments powered by ISG’s proprietary methodology. Visit http://research.isg-one.com/ for more information and to sign up for free community membership.

About ISG

ISG is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.

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Source: Information Services Group ( III )