Article

Redwood Software's '2026 R2R Efficiency Mirage' study shows that 92% of organizations still depend on manual efforts for financial closures, despite widespread automation tools. Only 2% of companies achieved fully automated closures.

The study reveals that finance teams are still manually handling key tasks like journal entries (84%), reconciliations (69%), and adjustments (67%), leading to inefficiencies and stress during closure cycles. Furthermore, 93% coordinate closures manually using checklists or spreadsheets. The study emphasizes the importance of structured orchestration to shift from manual to automated processes in finance.