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Looking for AI tools for Finance? Check this amazing list down below put together by Nicolas Boucher

We are looking for new teammember! ?? Could that be you?

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The TOP question I get paid to answer is: ?How do I identify my specific use cases for AI?? For the past several years, I have given about fifty talks on AI use cases and consulted dozens and dozens of Internal Audit and Finance teams on AI applications that are: ? Applicable immediately ? Solve a specific problem ? Have a proven positive ROI Every company is different. Your ERP system setup is unique to your business model, and your data and processes will vary. Effective AI solutions that can improve and streamline your processes already exist and are being used by leading auditors. My team and I have been helping these companies recognize these opportunities and use AI to their advantage. Here are 5 very specific use cases that you can easily implement right now: 1. Duplicate payments This is the simplest and most obvious case. Internal controls cannot completely prevent duplicate payments, and 98% of our customers find and recover significant amounts of lost cash.? 2. Non-deducted VAT The issue often arises because VAT rules in SAP do not apply to manual postings and are designed for Accounts Receivable, making it likely that unposted input tax goes undeclared.? 3. VAT deduction compliance Are all VAT deduction rules met on every invoice? Most ERP systems are designed for accounts receivable, leading to errors. AI platforms like KNIME are well-suited to address this issue. 4. Document analysis Who has the time to review, read, check, and cross-reference all the documents? AI does. OCR + LLM = must-have for Audit teams. 5. Audit documentation This is common among many forward-thinking teams as it significantly streamlines the audit preparation process. If you want to start using AI in Audit and Finance to your benefit, explore these cases. These are the most common, universal use cases that fit almost every organization.? If you see potential in these cases for your team and need support, reach out to me. My DMs are open.

5 criteria to recognize genuine AI or pure BS: These criteria are like a very good bouncer at a club: they work all the time ??When someone explains their new AI tool to me and ??On a call with a customer during an audit. The term "AI" is frequently misused or misunderstood, leading to confusion when communicating between: ?? Audit ?? Compliance ?? Management ?? Data scientists ?? Functional departments Everyone calls it AI, it’s marketed as AI. Is it though? Here 5 criteria that AI will possess: 1?? Autonomy: True AI systems make decisions autonomously or significantly support human decisions, ensuring substantial machine influence. 2?? Business Relevance: AI decisions should not only focus on technically correct business transactions but also have a direct impact on the organization's overall operations. 3?? Learning: Genuine AI systems don't rely solely on static rules (e.g., “if-then-else chaining”). Instead, their decision-making processes learn from training data. 4?? Dynamic Adaptation: AI systems should adapt their decision-making processes regularly as new data is continuously added for extended algorithm training, keeping them relevant in the evolving business landscape. 5?? Specificity: A genuine AI system isn't a one-size-fits-all solution (e.g., Google Translator) but should be tailored to meet an organization's unique needs. Some our customers were discovering BS instead of AI. ?? Pretty disappointing but always better to learn how to distinguish the two and not be fooled or misled. Have you already checked if AI systems in your organizations genuine or not? Share below????

We did it!??? We have reached the 99 reasons to love Audit, and finally, here’s the complete version. Back in May, during Internal Audit Month, I challenged myself and the Audit community to share their reasons for loving Internal Audit. Since then, many people have asked me to share the complete list of 99 reasons. This compilation is a great source of inspiration for Internal Auditors. It highlights the diverse and impactful ways Internal Audit contributes to organizations, fosters a culture of accountability, and drives continuous improvement. So, what CAN and SHOULD you do with the 99 Reasons to Love Internal Audit? 1 - If you have an open position in your audit department, use it to create a more compelling job posting. Feed it to ChatGPT and ask it all kinds of questions based on it. 2 - Create a better mission and vision statement for your Audit team. This is a great resource if you struggle to formulate better “messaging” for the Internal Audit function. 3 - Cheer yourself and your team by leafing through the 99 Reasons. Audit can be tough: lots of pressure, political games, and struggling with being the “unloved child” of the organization. This is a manual for us not to lose the focus: the why behind our work.? ? Stay tuned! I’ll be creating and sharing more ways (and prompts!) to use The 99 Reasons for work, inspiration, and success in Audit. Thank you to everyone who contributed and made this possible! Your insights and passion have created a valuable resource for us all??? Robert Berry, Silvana Zoto (Dautaj) MBA, CIA, CRMA, Hiltrud Walz, Asim Ali Abid - FCCA, CIA, Nam Phong Ho, Elizabeth McDowell, CPA, CIA, Ursula Schmidt, Chris Desjardins, CPA CGMA, Rebecca Tisthammer, JM, MSM, Rainer Lenz, PhD, CIA, CIIA, Silvia Puhani, Hal Garyn, Tracie Marquardt CPA, Andrea Camila G. and many more who I'll tag in the comments What challenge should we have for the next Internal Audit Month??

I’ve put together the prompting formula for Internal Auditors For the past several months, I have been to about half a dozen events – big and small – speaking about prompting for ChatGPT, Co-Pilot and other LLMs in front of hundreds of Internal Auditors.? I was surprised. ?? Even though his topic seems heavily covered, the issue of streamlining the documentation workflows is not yet resolved. ??♂? We might be getting better at it, but effective use of LLMs in Internal Audit for all kinds of text-related tasks is not achieved.? We are yet to learn how to max out on this technology.? And to get rid of the need to spend so much unproductive time on documentation. That’s why I have put together this prompting cheat sheet. It is based on my presentations on the subject and the engineering effort of my team, Prof. Dr. Nick Gehrke and Amirhossein Rahimi in particular. The beauty of this formula is that you don’t have to reinvent the bicycle.? You don’t have to engineer anything.? Just take the prompting formula, plug in your information and it’s done. It is important to remember that hallucinations are not a bug. It is the greatest feature of Large Language Models. As with any feature, be conscious about using it. Pro-tip:? To manage hallucination, use the temperature of the algorithm and set it close to 0 if you do not want the LLM to hallucinate and closer to 1 if you want really creative answers. My favorite for internal audit texts: 0,1. Go on, give it a try. And let me know in the comments: did it work for you?

I’m facing the impossible challenge:? I need to find the impossible.? Specifically, we are looking for a new team member who embodies two seemingly opposing qualities:? ?? the mind and knowledge of an auditor, and? ?? the heart and soul of a customer success and project manager. Let me explain. I founded zapliance almost a decade back with a clear vision:? to help audit and finance teams get better data insights from an audit perspective. It wasn’t just about crunching numbers; it was about uncovering the stories those numbers told, stories that could drive better decisions and more robust financial health. Zapliance was growing, so after some time, we added a new team whose sole purpose was to ensure our customers didn’t just use our insights—they succeeded because of them. We call it our customer success team. It works! Until today, Prof. Dr. Nick Gehrke and I are tackling every facet of audit and data content, neatly covered and perfected by our customer success team. Kudos to Ivone Trommer Melanie Br?han and Dennis H. ?? We managed to bridge the gap between analytical insight and customer care. We aen’t just providing data; we are providing a path to success. Here’s where the impossible challenge comes in.? We are growing. There are very limited experienced providers in the field of AI – AUDIT - FINANCE AND SAP Data. I need to find a team member who can combine the meticulous mind of an auditor with the empathetic heart of a customer success manager.? It’s a tall order, but I believe that person is out there. Here’s what’s crucial for this role: ??Experience in audit ??Customer focus ?Willingness to learn ??Being open-minded and proactive Is there such a person out there?? It certainly feels daunting, but I feel optimistic.? So, if you’re reading this and thinking, “That sounds like me,” don’t hesitate to get in touch.

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Attention SAP Users! Webinar Alert ??? ?? Are You Ready for the New E-Invoicing Legislation in B2B? We are on the brink of a major shift with the mandatory e-invoicing legislation in the B2B sector. Are you prepared for the changes this will bring, especially if you're an SAP user? What are the risks and opportunities for Internal Auditors?? What does this mean for your company? ? What challenges and advantages does this legislation present? ?? A Quick Overview of What's Ahead: The legislation impacts the whole B2B sector.? By January 1, 2025, companies must be equipped to receive e-invoices.? By January 1, 2028, the ability to send and receive e-invoices becomes mandatory.? Expect more updates and changes as we approach the 2028 deadline. ?? It's Time for Action: Join Alexander Ruehle and Marcel E. as they dive deep into what this legislative shift means for Audit and Finance teams operating with SAP. We'll explore: The timeline of upcoming changes.? Key risks and opportunities facing Internal Auditors.? Effective strategies for SAP users to adapt to these changes. ?? Mark Your Calendar: Date: January 25th, 11:00-11:45 CET? Language: German? Location: [Link in the comments] ?? Don't Miss Out! This is a critical turning point for your business. Make sure you're equipped with the knowledge to navigate these changes successfully. See you there! #B2B #SAP #EInvoicing #Audit #Finance #BusinessTransformation?