Curated News
By: NewsRamp Editorial Staff
May 27, 2026
Finance AI Adoption Set to Double, Yet Spreadsheets Still Rule
TLDR
- CFOs can gain a competitive edge by adopting AI for forecasting, as AI adoption is set to more than double in 12 months.
- The 2026 FP&A Statistics Report from Limelight Software analyzes 50+ benchmarks showing AI adoption, spreadsheet dependency, and forecast accuracy issues.
- Limelight's report highlights how automating manual FP&A work can free finance teams to focus on strategic growth and reduce errors.
- 82% of companies make decisions on stale data, and 85% say outdated data leads directly to lost revenue.
Impact - Why it Matters
This news matters because it reveals a critical disconnect in finance: while CFOs are investing heavily in AI and technology to improve forecasting and decision-making, the majority of finance teams remain bogged down by spreadsheets and stale data, leading to inaccurate forecasts and lost revenue. For businesses, this gap between intent and infrastructure means that without bridging it, they risk falling behind competitors who successfully automate and adopt AI. The findings highlight an urgent need for finance transformation, directly impacting a company's ability to control costs, drive growth, and make timely strategic decisions. Professionals across industries should take note: the finance function is evolving, and those who fail to modernize may face significant competitive disadvantages.
Summary
Finance leaders are embracing AI and boosting technology budgets, yet legacy spreadsheet reliance and forecast inaccuracies persist, according to Limelight Software's 2026 FP&A Statistics Report. The report, which aggregates over 50 benchmarks, reveals that 77% of CFOs plan to increase FP&A technology spending in 2025, with the FP&A software market projected to soar from $3.9 billion to $9.7 billion by 2031. AI adoption is set to more than double within a year: 28% of finance departments currently use AI in forecasting, and another 39% plan to adopt it soon. However, nearly 100% of finance professionals still use spreadsheets for monthly planning, and 82% make decisions on stale data. Forecast accuracy remains the top cost-control obstacle for 61% of CFOs, and 85% say outdated data leads directly to lost revenue. The report draws on research from Gartner, PwC, KPMG, McKinsey, Deloitte, and others, highlighting a deep divide between investment intentions and operational reality.
Key players include Limelight Software, the cloud FP&A platform used by TED and Conservation International, and Rosie Shea, BDM at Limelight, who notes that finance leaders are pulled between driving strategy and managing spreadsheets. The report emphasizes that AI is reshaping forecasting first, with 66% of finance leaders saying generative AI will impact explaining variances. Yet transformation programs stall: 69% are behind schedule, and 30% fail entirely. The CFO role continues to expand, with 82% saying their remit has grown and 81% viewing themselves as primary growth drivers. The full report is available at https://www.golimelight.com/blog/financial-planning-analysis-stats.
Limelight's platform replaces spreadsheets with centralized, real-time planning, integrating with major ERPs. The report underscores a critical gap: despite record technology spend, legacy workflows slow progress. As Rosie Shea states, “Closing that gap is the work of the next two years.” The findings serve as a call to action for finance teams to modernize their infrastructure and leverage AI for real forecasting problems, not just as experiments. For more details, visit https://www.golimelight.com or view the original release on NEWMEDIAWIRE.
Source Statement
This curated news summary relied on content disributed by NewMediaWire. Read the original source here, Finance AI Adoption Set to Double, Yet Spreadsheets Still Rule
