AI technology considerations for CFOs

AI can increase efficiency by automating manual, FTE-heavy finance processes such as the order-to-cash cycle. It can also help optimize data profiling, remediation, and integration. Cleaner data, greater accuracy, and more opportunities for efficiencies, which can lead to improvements in days sales outstanding, working capital, and margins. AI can uncover discrete patterns in complex structured and unstructured data, giving finance managers new insights that can support more meaningful analyses while increasing forecasting and financial planning speed and accuracy. By automating customer-facing finance processes such as invoicing, AI can enhance the customer experience, improving customer relationships and brand perception. AI mimics human intelligence to automate activities that nonintelligent technologies cannot, which can free more finance professionals to focus on value-driving activities.