Why does our finance function always seem late and inaccurate?

If your month-end reporting drags on and forecasts consistently miss the mark, the problem rarely lies with individual staff. More often, the issue is structural. Across UK SMEs and mid-market businesses, several common factors explain why the finance function struggles to deliver timely, reliable numbers.

Fragmented systems and manual work

The first is fragmented systems and manual work. When data is spread across spreadsheets, ERPs, and bank portals, reconciliations take longer and the risk or error rises. It’s no surprise 88% of CFOs plan to invest in finance technology and 86% aim to improve forecasting accuracy in 2025, showing the urgent need to modernise.

Late payments distort financial reporting

But even the best systems can’t compensate for external pressures. Late payments continue to distort financial reporting. In 2025, 90% of UK companies reported overdue invoices, with average delays of 32 days. That level of slippage makes it difficult to recognise revenue properly, forecast cash with confidence, or stay on top of loan covenants.

Without clear RACI for close, review, and sign-off, teams firefight. Timely, connected reporting is now an explicit expectation of the profession, spanning financial and sustainability data, yet many organisations haven’t re-engineered their workflows to deliver it.

Regulatory pressures on finance accuracy

Overlaying this is the regulatory environment. The Financial Reporting Council’s latest inspections show some improvement in audit quality but also highlight persistent weaknesses. Regulators are pushing hard for faster, higher-quality reporting, raising the bar for internal controls and documentation. Falling short is not just a matter of inefficiency; it increases compliance risk.

Finally, there’s the issue of skills and analytics capability. Deloitte’s UK CFO survey in October 2025 found finance leaders are increasingly worried about competitiveness and costs, yet many teams are still expected to “do more with less.” Without stronger data skills and predictive tools, it’s difficult to shorten cycle times or improve accuracy.

How to fix late and inaccurate finance functions

Taken together, these pressures explain why finance often feels both late and inaccurate. The solution starts with an honest diagnostic: mapping the close, identifying control gaps, and prioritising automation. From there, tightening working-capital processes and embedding compliance can transform finance from reactive reporting into a driver of business confidence.

If your business needs support to get there, Sanay offers outsourced finance function and financial controller services for growing businesses in all sectors. By redesigning processes and implementing integrated tools, we ensure your finance function delivers numbers that are both timely and right the first time, every month. Contact us today to get started.