{"id":223248,"date":"2025-05-04T17:20:58","date_gmt":"2025-05-04T17:20:58","guid":{"rendered":"https:\/\/peraltafinancing.com\/accounting\/why-finance-leaders-are-switching-software-and-how-they-really-feel-about-hidden-costs\/"},"modified":"2025-05-04T17:20:58","modified_gmt":"2025-05-04T17:20:58","slug":"why-finance-leaders-are-switching-software-and-how-they-really-feel-about-hidden-costs","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=223248","title":{"rendered":"Why finance leaders are switching software \u2013 and how they really feel about hidden costs"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Switching finance software is a complex, time-consuming process. Too often, it\u2019s put off until frustrations with outdated or unreliable systems become too much to ignore. To understand what\u2019s really driving finance leaders to make a move \u2013 and what\u2019s holding them back \u2013 we surveyed 125 CFOs and senior finance professionals across the UK and Ireland.<\/p>\n<p><strong>The hidden costs no one sees coming<\/strong><\/p>\n<p>A major pain point is hidden costs or unexpected price hikes from software providers. In fact, 78% of respondents said they had been caught off guard by charges they hadn\u2019t accounted for. Nearly half (44%) reported hidden fees, while 14% faced sudden price increases.<\/p>\n<p>This isn\u2019t just a rare issue; it\u2019s widespread. For finance teams already managing rising costs, unexpected software expenses add more pressure. And it\u2019s not just the money \u2013 lack of transparency makes forward planning harder and erodes trust.<\/p>\n<p><strong>An increasing desire to switch<\/strong><\/p>\n<p>Given these frustrations, it\u2019s no surprise that many finance leaders are considering a change. A significant 81% said unexpected costs had made them want to find a new provider. But it\u2019s not just about saving money \u2013 it\u2019s about value and transparency. Nearly two-thirds (64%) felt price hikes from their current providers weren\u2019t justified, with no new features added to explain the increase.<\/p>\n<p>Despite the desire to switch, many hesitate. The main reason? Concerns over implementation. Finance leaders know that moving to a new system can take months and tie up valuable resources. For many, this is a risk they can\u2019t easily take. Some also shared concerns about rushed or oversized ERP implementations that created more problems than they solved.<\/p>\n<p><strong>Why the hesitation?<\/strong><\/p>\n<p>The biggest barrier to switching is long implementation times. Sixty percent of those surveyed said the complexity and time required to transition was the main reason they hadn\u2019t switched. They fear disruptions to daily operations.<\/p>\n<p>However, momentum for change is growing. Over half (57%) have considered switching to a more cost-effective provider in the past year and nearly a third (29%) are actively thinking about it now. Some have already made the move \u2013 36% said they\u2019ve either switched or are actively looking for alternatives.<\/p>\n<p><strong>The broader pressures facing finance teams<\/strong><\/p>\n<p>The push to change finance management systems is part of a broader challenge. Rising inflation, economic uncertainty and shifting regulations are piling on the pressure. For finance teams already stretched thin, unpredictable software costs and overly complex systems are an additional burden.<\/p>\n<p><strong>Choosing solutions that match your needs<\/strong><\/p>\n<p>Finance leaders are looking for more than just cheaper software \u2013 they want value, reliability and transparency. The key to avoiding unexpected price hikes is finding solutions that are easy to implement, scalable and offer long-term value.<\/p>\n<p>If your current software is creating more problems than it solves, it\u2019s time to assess your options. With the right research, planning and advice, you can avoid rising costs and set yourself up for sustainable success.<\/p>\n<p><b><span data-contrast=\"none\">Meet the\u00a0<a href=\"https:\/\/divcommanual.com\/acx\/exhibitor-listing\/accountsiq\/\">AccountsIQ<\/a>\u00a0team on stand 790 at Accountex London, taking place at Excel London on the 14-15 May, 2025.<\/span><\/b><\/p>\n<p><b><span data-contrast=\"none\"><a href=\"https:\/\/eventdata.uk\/Visitor\/AccountexLondon2025.aspx?TrackingCode=ACX423\">You can register for your free ticket here.<\/a><\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Switching finance software is a complex, time-consuming process. Too often, it\u2019s put off until frustrations with outdated or unreliable systems become too much to ignore. To understand what\u2019s really driving finance leaders to make a move \u2013 and what\u2019s holding them back \u2013 we surveyed 125 CFOs and senior finance professionals across the UK and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":223249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11759],"tags":[13594,4293,10924,6320,17389,11345,20533],"dealstore":[],"offerexpiration":[],"class_list":["post-223248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting","tag-costs","tag-feel","tag-finance","tag-hidden","tag-leaders","tag-software","tag-switching"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why finance leaders are switching software \u2013 and how they really feel about hidden costs - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=223248\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why finance leaders are switching software \u2013 and how they really feel about hidden costs - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Switching finance software is a complex, time-consuming process. Too often, it\u2019s put off until frustrations with outdated or unreliable systems become too much to ignore. 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