Traditional methods dominate, but AI and advanced analytics show early benefits amid slow adoption
NEW YORK and MONTVALE, N.J., May 22, 2025 -- Emerging technologies like artificial intelligence (AI), machine learning, and advanced analytics are gaining traction among finance and accounting professionals to enhance business performance insights, according to a new global survey from the Deloitte Center for Controllership™ and IMA® (Institute of Management Accountants). Even so, traditional cost accounting and profitability management methods continue to dominate the profession.
The survey report, titled "Unlocking profitability insights: How companies are leveraging data to enhance business performance," reveals that spreadsheets (30%) remain the most common performance modeling tool, significantly outpacing AI analytics (3%) and blockchain (1%). However, many professionals anticipate that emerging technologies will soon disrupt traditional cost accounting and profitability analysis practices by automating routine tasks and processes (19%), enabling real-time data analysis and reporting (18%), and shifting from historical to predictive analytics models (18%).
"Traditional business performance management methods are not as responsive or as precise as newer tools are at generating data and insights on drivers of cost, critical in today's fast-paced and dynamic operating environment," said Colleen Whitmore, a controllership partner, Deloitte & Touche LLP. "As such, many controllers and CFOs recognize that transformation in cost and profitability management approaches is needed to drive operating performance and better strategic decision-making."
Of the more than 440 finance and accounting managers, directors, controllers and CFOs surveyed, more than half (53%) reported they have already integrated (24%) or are planning to integrate (29%) emerging technologies such as AI, blockchain, or advanced data analytics into their organization's cost and profitability management models.
Adoption of cost-to-serve analytics tools face data hurdles
Respondents were specifically surveyed on their use of cost-to-serve analytics for quantifying the activities and related costs of delivering a product or service. Only 38% reported that their organizations are leveraging cost-to-serve analysis to evaluate business goals or modify strategies to increase profits.
Over half of respondents (54%) indicated that they either do not have reporting available or that their organization needs to improve the transparency of its cost and profitability reporting. When asked about the barriers to obtaining meaningful cost data, surveyed professionals cited complex and disparate systems (15%) as the primary reason, followed by data availability challenges due to interdependencies between functions, operating units and departments (14%).
"Data serves as the backbone of analytics tools, underscoring the importance of data hygiene for maximizing the technology's potential," said Rebecca Baker, Ph.D., director of product management at IMA and co-author of the report. "Cost modeling analytics, such as cost-to-serve, can be transformative for organizations aiming to enhance business performance and drive growth. However, these tools are only as effective as the data management strategies that support them."
Other reported benefits of utilizing emerging technologies like advanced analytics, AI and machine learning for costing and profitability management include reduced time spent on data collection (12%), increased efficiency in reporting and analysis preparation (11%), and improved accuracy of cost estimations (10%).
To read the full report, visit https://www2.deloitte.com/us/en/pages/financial-advisory/articles/financial-controllership-ima-report.html.
About IMA® (Institute of Management Accountants)
IMA® is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant), CSCA® (Certified in Strategy and Competitive Analysis), and FMAA™ (Financial and Managerial Accounting Associate) certification programs, continuing education, networking, and advocacy of the highest ethical business practices. Twice named Professional Body of the Year by The Accountant/International Accounting Bulletin, IMA has a global network of about 140,000 members in 150 countries and 200+ professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its six global regions: The Americas, China, Europe, Middle East/North Africa, India, and Asia Pacific. For more information about IMA, please visit www.imanet.org.
About Deloitte
Deloitte helps organizations navigate business risks and opportunities—from strategic, reputation, and financial risks to operational, cyber, and regulatory risks—to gain competitive advantage and become more trustworthy, resilient, and secure.
As used in this document, "Deloitte" means Deloitte & Touche LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting.
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