“BY 2023, AI advisors will be working side by side with CPAs and Finance experts in Finance organization.” “Annual budget planning is becoming a thing of the past”. “Closing the books will no longer be a singular event—it will be a real-time close”. “Outcomes of invoice and order processing will be predicted in advance to take proactive actions”. This is what the industry pundits are saying which means that the CFOs are becoming “Business Value Architects”.
Encouraging, isn't? With access to real-time data and insights, you can optimize the core business processes to deliver business outcomes, gaining a competitive edge and driving your shareholder value. Some of the key Impact that CFO organization will realize by accessing real-time financial data, insights and Artificial Intelligence.
- The future will be fully automated processing, with continuous monitoring, reporting, close and audit.
- Integrated Technology and platforms within your company and industry eco-systems.
- Artificial intelligence will be common and technologies like blockchain, distributed ledgers and smart contracts will be reinventing processes, and yes Web3.0 is going to be a game changer in F&A as well.
- Would you not love it when you will have access to data available across your eco-system and comprehensive data from the external eco-system, an extensive data-set that you can use to provide you immense insights.
- And that is not all, now you will be able to manage your workforce and apply an integrated workforce module, comprised of AI enabled advisors, advanced analytics apps and cognitive automation experts.
- The benefit would be, as you progress in the journey, the people (most important lever of any organization) will move further up the business process value chain and now are enabled to perform more complex judgement-based activities, such as controllership or corporate finance.
- So what do you get, it will give you flexibility and the freedom to innovate, faster, better with lot more confidence than your market competitors.
Let us see some of the business benefits that can be realized easily:
- Procure to Pay, you can gain working capital by 30-35% and increase savings by 30%.
- Order to Cash, you can improve your collection rates by 10-20% using previous customers insights.
- Record to Report, you can reduce your close period timeline by 30-45% and increase operational efficiency to 40-50%.
- Financial Planning & Analysis,?you can significantly improve the accuracy of capital availability forecasting by 85-95% and predict sales bid outcomes shifting your focus away from straight data governance and toward strategic decision making.
But “ How do you achieve these results?” and the answer would be “ Run your Finance & Accounting (F&A) operating model by using HYPERAUTOMATION Platform framework and address all your need for robotic process automation, advanced analytics, workflow/orchestration solution and Artificial Intelligence into your core finance functions.”.
And the results would be there to see:?
- Improved accuracy, and short cycle time for rule-based transactions processing.
- Embedded descriptive, predictive and prescriptive analytics into business processes and by merging your data with proprietary, third-party and client data, you can benchmark and achieve a competitive advantage.
- Leverage artificial intelligence to provide you with even greater productivity adding the ability to create, analyse structured and unstructured data, then sense, learn and identify new opportunities for efficiency.
- Integrating intelligent technologies into the service delivery, you can transform entire processes, creating new business opportunities and dramatically enhanced services.
- Drive superior compliance, operational performance and business outcomes.?
So - it goes beyond providing access to real-time data and analysis. Have a go with Hyperautomated Finance.
