Go digital, use AI: CFO Board to members

In a volatile business climate, CFOs need to reassess the way they work and use automation and Artificial Intelligence (AI) for better regulatory compliance. According to a white paper prepared by The CFO Board, there is a need to adopt digital tools to support the entire finance function. "It needs to be done from existing daily generation of finance reports to dashboards that can predict the cash flow or unforeseen business risks," said Giridhar Sanjeevani, Global CFO, Taj Group of Hotels. He, however, added that CFOs are evolving slowly and have not yet taken cognisance of the disruption that technology is causing in all kinds of businesses. By adopting these tools, CFOs can improve decision-making, planning, control, and governance while reducing costs and increasing investment returns, according to Ajay Kumar, Senior Director, ERP/EPM sales consultant for Oracle India.