UK businesses underuse finance software, bluQube finds

Research from bluQube found that 89.3% of UK businesses use less than three-quarters of the functions in their finance systems. The study surveyed senior finance decision-makers across the UK.

The findings point to a gap between investment in finance software and its day-to-day use within finance teams. More than four in ten businesses use only 26% to 50% of the features available in their systems, while 36.6% use 51% to 75%.

Functions beyond core accounting were most likely to go unused, including automated invoice processing, data entry tools, and integrations with payroll, customer relationship management, and procurement systems.

The pattern suggests many companies have installed finance software without fully embedding it in routine operations. It also indicates they are not getting the return they expected when they bought the systems.

Value has also taken longer to appear than many finance leaders anticipated. More than half of businesses (52.2%) expected their finance systems to deliver value within six months, but only 42.4% said that happened.

For a sizeable minority, the wait was much longer. Nearly a third, 31.6%, said it took more than ten months to realise value from their finance system.

Spreadsheet reliance

The research also found that finance work continues to take place outside the systems companies have paid for. More than six in ten businesses (60.3%) said they still use spreadsheets weekly or daily as part of their finance processes.

Using spreadsheets alongside formal finance platforms can duplicate routine tasks and leave key work spread across different tools. In practice, businesses may be running parts of their finance operation in parallel rather than through a single system.

Bristol-based bluQube said the results form part of a broader look at finance system adoption, value realisation, and confidence in finance technology. The research is the first study in its Confidence Gap series.

A common theme in the data is partial adoption rather than the absence of software. Businesses have finance systems in place, but many do not appear to be using a large share of the tools built into them.

That matters because many of the underused features are designed to reduce manual work or connect finance teams with other parts of the business. If those functions are not switched on or adopted by staff, the software may offer less practical benefit than expected.

"The data is telling us that businesses are missing an opportunity and suffering from misalignment between systems and the fabric of their finance teams. Finance systems should start to deliver value immediately, which makes the long wait times to see real value delivered particularly concerning. Equally, reports of widespread activity outside of these systems are a symbol of inefficiency across UK businesses," said Simon Kearsley, Chief Executive Officer at bluQube.

"Taking the time to identify the right finance system for your team and sticking to robust implementation protocols can help ensure that the system works to its full potential for your business."

The results add to a wider debate over how companies measure returns on business software spending. Buying and installing a platform is often only the first stage. Staff training, process redesign, and system integration can determine whether the investment changes how work gets done.

In this case, the survey suggests the gap opens quickly. While a majority expected value within six months, fewer than half achieved that timetable, pointing to a mismatch between expectations at purchase and experience after roll-out.

The data also shows that underuse is not limited to a small group of laggards. With 89.3% of businesses using less than three quarters of available functions, partial adoption appears to be the norm rather than the exception among the organisations surveyed.

For finance leaders, that raises a practical question over whether existing systems are configured and used in a way that matches the needs of their teams. The persistence of weekly and daily spreadsheet use suggests many businesses still rely on familiar manual processes even after investing in dedicated finance software.

Nearly a third of businesses had to wait more than ten months before realising value from their finance system.