How I automated my finance tasks and saved 100s of hours
Nicolas Boucher
I teach Finance Teams how to use AI - Keynote speaker on AI for Finance (DM me if you need help)
We all know the drill of finance work: endless spreadsheets, repetitive data entries, and the constant pressure to meet deadlines.
As a finance professional , you're no stranger to the headaches that come with managing complex data and tackling routine tasks that seem to never end. It can feel like there's no time left for the work that matters, like providing strategic insights and making a real impact.
But what if those draining and time-consuming tasks could be approached and done differently?
What if you could focus on the bigger picture and finally have the time to drive meaningful change?
In this edition, I will explain to you how I automated my finance tasks and show you the secret hack of using Python with Generative AI .
Here is what we'll cover:
Enjoy!
Nicolas
1. Financial Analysis with AI
Enroll in the free info session where Christian and I will show you how to use Financial Analysis with AI
Join us on Tuesday, October 29th, 3 PM ET , and get answers to all of your questions live. ?? Reserve your free spot now!
2. Watch my video and learn What Can AI do for Finance?
What challenges do you see with AI in finance?
In this video, I explain What Can AI do for finance and how reliable Gen AI is for your work.
Enjoy the video :
3. 10 Finance Tasks You Can Automate with Python (Continue learning here)
Finance teams deal with massive datasets , recurring processes, and intricate analyses.
While Excel has been the go-to tool for decades, Python is rapidly gaining ground as a more efficient and scalable solution.
#1: Automating Forecasting and Time Series Analysis
Forecasting is crucial in finance, whether predicting future revenues, costs, or cash flow.
Excel’s built-in forecasting functions can handle basic needs, but as models get more complex, Excel struggles with scalability and accuracy.
Why Python is better? Python simplifies forecasting by integrating historical data, adjusting for seasonality, and automating updates as new data comes in.
Once the model is set up, Python recalculates forecasts in real time, making it far more flexible and powerful than Excel.
Example A company looking to forecast future cash flows based on historical sales data can automate the process with Python.
The ability to adjust for seasonal trends or unpredictable changes makes Python especially useful for real-time business decision-making.
Sales Forecast Based on Historical Data
#2: Automating Scenario and Sensitivity Analysis
Scenario analysis helps finance teams evaluate how changes in variables like interest rates, costs, or sales affect outcomes.
领英推荐
Excel can handle basic sensitivity analysis , but running multiple scenarios becomes cumbersome.
Why Python is better? Python enables you to simulate hundreds of scenarios automatically, providing quick insights into how changes in key financial variables impact the company’s bottom line.
This allows for real-time analysis and decision-making.
Example Imagine assessing how a 2% increase in interest rates would affect your company’s debt servicing costs.
Instead of manually adjusting numbers and recalculating, Python runs the simulations in seconds, producing detailed outputs for multiple interest rate scenarios.
In my website article , you will find out the rest of the finance tasks you can automate with Python.
4. Offer of the week
Unlock the Secret Hack of Using Python with Gen AI
Imagine it's a Monday morning. You open your laptop, ready for another day of crunching numbers and preparing reports. But today feels different. Today, you're armed with new tools - Python and AI.
Just a few weeks ago, you were feeling the limits of Excel. Sure, it got the job done, but you knew there was more. You wanted to break free from repetitive tasks and focus on real work: insightful analysis, strategic decisions, and making an impact.
That's when you discovered Python and AI .
Now, instead of spending hours cleaning data, you have Python scripts that do it in seconds. Instead of visualizing trends manually, you're creating impactful visuals with ease. You've automated routine tasks, giving you more time for what truly matters.
And the best part? You didn’t need to have any coding skills. With tools like ChatGPT, Python started working for you. You felt unstoppable.
Christian Martinez and I created a course to make this transformation possible for everyone in finance .
In just four hours, over 200 CFOs, FP&A managers, and analysts have already experienced what’s possible. They've gone from feeling overwhelmed by tech to being the go-to experts, using AI to deliver insights no one else saw coming.
This isn’t just another course. It’s your fast track to mastering the skills that set the top 1% finance pros apart.
But spots are extremely limited and filling up fast. On top of that, I am offering you the chance to enroll now and save $200 .
If you want to save $200 and take that leap, now’s the time.
Enroll now and become the finance pro everyone turns to when they need answers.
5. Freebies of the week
Freebie 1: ChatGPT for Finance Cheat Sheet
In which way are you using ChatGPT, and which use case do you find most useful?
Let me know!
Nicolas
P.S.: Imagine being one of the few finance pros who truly can leverage ChatGPT and Python to transform their work. This course gives you the exact steps and use cases to get there. But spots are running out quickly, and this 200$ discount is only available for a few more days. Secure your spot now!
?? Senior Finance Executive | CFO | CPA ?? International Experience ? Revenue & EBIDTA Growth ? Fund Raising ? Big Four Experience ?? Innovative, Solution-Focused Strategist, Finance Leader, And Business Partner
1 个月I appreciate this insightful breakdown on automating finance tasks, Nicolas Boucher! The strategic use of automation to save time and reduce manual errors really resonates with my experience. It’s incredible to see how the right tools and processes can transform the efficiency of a finance team. I’m curious, what’s been the most unexpected challenge you faced when implementing automation, and how did you overcome it? I’d love to hear how other finance leaders have navigated similar situations.
Building Merchaint.com | Sharing my journey as an 8-figure wholesale and traditional business owner | Free products and tips on growing B2B businesses
1 个月One of the biggest challenges in Accounts Payable is managing invoices, particularly for large businesses like hotels, supply chain companies, or manufacturers. Automating this tedious task can greatly improve efficiency, allowing your business to scale more effectively.
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1 个月This is amazing, Nicolas! Thanks for sharing!
UAE VAT Compliance GCC|| Financial Operations|| MBA (BBA (UVT Finance and Business Administration FEAA) || Skilled in Financial Accounting| ||
1 个月Automating financial tasks can really help by reducing errors and speeding up routine work like invoicing and tracking expenses. It gives you more time to focus on bigger things, like making decisions based on the numbers. It also helps with cash flow by automatically tracking payments and sending reminders. Plus, it keeps everything organized and compliant, so you don’t miss any important details. Overall, it makes things easier to manage.
Group Head, Financial Reporting at Odu'a Investment Company Limited
1 个月This is very insightful and am sure that this will definitely reduce our overall hours on our repetitive tasks