Improved productivity isn’t about doing more; it’s about doing what matters. For many finance professionals, getting the numbers right is their “bread and butter.” The report from the National Bureau of Economic Research, Measurement Matters: Financial Reporting and Productivity, highlights that up to 20% of the productivity gap between companies stems from one basic factor: the quality of their financial reporting.
Companies with strong reporting practices, especially those that invest in external audits, don’t just “look” better on paper. They perform better, achieving higher productivity, stronger profitability, and better long-term survival rates. Why? Accurate, timely information sharpens decision-making, reduces noise, limits bias, and gives leaders a clearer picture of what’s happening in the business. Over time, that clarity compounds.
But accurate financial reporting shows only the past and therefore can only take the organisation so far if teams lack the right skills to interpret and act on it. That’s why the next piece of the productivity puzzle is capability, and it starts with people.
Skills, skills, skills
If measurement is one missing piece of the productivity puzzle, another is organisational capability. The AICPA & CIMA Technology, Productivity and Skills global survey, with responses from around 1,500 finance leaders, found almost universal agreement that AI and data analytics will transform the profession. According to the survey, 88% see AI as a major driver of change. But readiness is another story: only 8% feel “very well prepared” to adopt AI tools and new workflows. And the biggest barrier? Skills.
Half of all respondents cited a lack of skills and talent as the main obstacle to adopting new technology. The most significant skills gaps include generative AI abilities, broader technology fluency, and data analytics. Leaders also highlight communication, influencing, and professional judgement as missing links to better productivity. It’s a timely reminder that AI doesn’t replace humans; it just raises the bar for us.
Enabling technologies by empowering people
The survey makes it clear that productivity isn’t being held back by technology itself, but by the conditions needed to use it well. Lack of skills remains the biggest constraint, but low motivation, incompatible systems, and poor coordination around tech implementation also play major roles. These low productivity factors show that challenges often stem from people and processes rather than technology itself.
But CFOs are already responding. In the past 12–24 months, 59% have implemented new systems, 48% have automated finance tasks, and nearly half have redesigned budgeting and reporting processes or led cross-functional collaborations. These are steps in the right direction, but another equally important piece is empowering people.
When asked how to upskill effectively, 61% of finance leaders ranked on-the-job training highest, well above traditional courses. This means CFOs should create opportunities for practical, hands‑on learning that integrates directly into daily work and encourages experimentation, collaboration, and co‑creation, which all boost not only skills, but also motivation.
Bringing the productivity pieces together
Unlocking productivity is about getting the basics right. Strengthening financial and management reporting ensures that decisions are grounded in reality rather than assumptions.
Building skills in the flow of work helps teams stay agile and keep pace with AI‑driven change. And aligning technology investments with real organisational bottlenecks ensures that every pound spent adds value.
CFOs who focus on these three shifts — better measurement, smarter professional development, and targeted tech adoption — will create finance functions that are more capable, more connected, and better equipped for the future.
The message from the survey is clear: productivity is built, not bought. And we’d better start building now.