C A S H I N G I N vision , ensures that AI is implemented in alignment with organisational goals , compliance standards and risk management practices . This serves to further enhance the business partnering between finance and other departments .
C A S H I N G I N vision , ensures that AI is implemented in alignment with organisational goals , compliance standards and risk management practices . This serves to further enhance the business partnering between finance and other departments .
Doing more with less
Organisations across all industries face the challenge of increasing efficiency with fewer resources . Whether building a product , selling a service or doing both , AI can help organisations run their businesses better and allow leaders to focus on what ’ s important .
Finance teams relying on manual processes , which are error-prone , disconnected and quickly become out of date , spend too much time editing spreadsheets , leaving too little for strategic decision-making to drive business growth . Embedded intelligence enables improved data-driven decision making with scenario modelling and
Thomas Sutter , Industry Director , Finance and Global Solutions at Oracle NetSuite
built-in analytics . AI and automation can underpin a variety of financial workflows , from operational and financial planning , to forecasting , reporting , reconciliation and profitability analysis .
This allows finance teams to focus on the business ’ s priorities , whether that ’ s operational excellence or customer satisfaction , rather than administrative tasks and regulatory compliance burdens . AI takes care of a laborious but essential operational layer , automating routine processes to allow the team to direct its resources towards strategic initiatives .
Empowering CFOs with the right tools It ’ s important to ensure that employees are equipped with the necessary competencies and expertise to successfully utilise AI and innovate within their businesses .
CFOs play a critical role in making this possible , especially as AI capabilities continue to advance . At its best , AI can act as a powerful skill multiplier for finance professionals . CFOs can unlock this potential by establishing a robust framework for training and skill development within their teams as well as the broader organisation . This includes investing in resources to upskill employees and providing opportunities for ongoing learning to keep teams in line with evolving AI capabilities .
Furthermore , CFOs should direct the integration of AI within their organisations by identifying the critical areas where it can add the most value . Aligning AI adoption and implementation with the organisation ’ s overall strategic goals allows for the development of a cohesive roadmap .
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