According to PwC's latest domestic survey, Hungarian finance leaders see cost-reduction pressure as the top challenge for the next one to three years. The summer survey polled more than a hundred domestic chief financial officers (CFOs); respondents ranked cost pressure first, with an average score of 4.09 on a five-point scale.
At the same time, perceptions of the external economic environment have improved markedly: the share of respondents who saw an unfavorable economic environment as a risk fell from 83% to 56%. As a result, companies have shifted focus toward modernizing internal operations.
Digitalization, automation and AI are spreading, but expectations are modest
The survey shows that 51% of respondents participated in an AI, automation, or digitalization project in the past year. Use of generative artificial intelligence in finance teams rose sharply — from 50% to 89% in one year. The technology has expanded mainly in management reporting and planning; AI usage in reporting increased from 34% to 51% year-on-year.
Despite rapid adoption, respondents are cautious about the business impact: most expect only 5–15% or smaller gains in efficiency and cost reduction over the next three years. PwC highlights that technology pilots alone are insufficient for tangible results; quality data, well-designed processes and staff who can apply new tools purposefully are all necessary.
Capacity shortfalls and skill gaps
Many developments are hindered by capacity shortages: 69% of finance leaders report resource shortages when supporting IT projects, and 60% report shortages on ad hoc tasks and analyses. While classical financial expertise remains a core strength, gaps appear in project management, innovation and adaptability.
Because in-house training does not always keep pace with changing needs, organizations increasingly engage external experts: the share of companies using outside help to build simple automations rose from 18% to 35%, and those seeking support to identify automation opportunities grew from 12% to 27%.
Shared service centers and the evolving role of finance
One third of respondents expect the role of shared service centers (SSCs) to grow, with these centers shifting from routine tasks toward higher-value data analysis activities. Modern finance departments are now expected not only to produce accurate reports but also to support decision-making actively with technology skills and business mindset.
Key figures from the survey
- Cost pressure scored 4.09 on a five-point scale.
- Finance teams using generative AI: 50% -> 89% year-on-year.
- Companies involved in AI/automation/digitalization projects in the past year: 51%.
- Share seeing unfavorable economic environment as a risk: 83% -> 56%.
- Resource shortages supporting IT projects: 69%; in ad hoc projects: 60%.
- AI usage in management reporting: 34% -> 51%.
- Companies using external help for simple automations: 18% -> 35%.
- Companies seeking help to identify automation opportunities: 12% -> 27%.
Conclusions
PwC's survey indicates that Hungarian finance leaders place both cost reduction and internal process modernization high on their agendas. Rapid uptake of AI and digital tools offers potential efficiency gains, but realizing measurable business outcomes requires good data, redesigned processes and staff with the right skills. Capacity constraints and skill gaps are prompting more firms to rely on external consultants and could increase the role of SSCs in delivering higher-value finance activities.
Note: an AI assistant contributed to the preparation of this article; the final content was edited and verified by the journalist based on the PwC survey.
