Tipalti's CFO Talks AI, Joann's Bankruptcy, and 5 Ways to Transform Finance Operations
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Tipalti CFO Talks AI Approach in Finance
Sarah Spoja , CFO of Tipalti , highlights some of the challenges finance leaders must overcome when beginning to approach AI. Among many topics around AI, the SaaS providers' finance leader talks about how her company uses finance-trained large language models in their AI approach.
"Our AP automation platform pulls all the data off the invoice so an employee doesn’t have to hard-code an invoice into the system to make it payable. When you add [LLMs] and AI on top of something like OCR [optical character recognition], we get much higher success rates on matching invoices [to purchase orders] and having those invoices auto-coded through the platform."
5 Ways CFOs Can Transform Finance Operations
As CFOs navigate industry pressures and competitive dynamics, a well-executed finance transformation program can make organizations agile, responsive, and better equipped to make informed business decisions. Simone Grimes, CPA, MBA , CFO of Acadia Insurance (a Berkley Company) , offers five approaches finance chiefs can use to lead business transformation.?
Crypto Fraud Rose to $3.9B in 2023
The FBI’s internet crime report found crypto fraud is still incredibly costly. According to senior reporter Vincent G. Ryan ’s story on the data, the SEC has dialed in its efforts to address the problem, but not without controversy.
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How a Legacy Business Trusted Its CFO to Survive Bankruptcy
After filing Chapter 11 bankruptcy this week, Scott Sekella , the CFO and co-CEO of fabric retailer JOANN Stores was given a $400,000 retention bonus, and the company is betting on him to help build back their business. In previous earnings calls before the filing, Sekella was confident in his company’s ability to grow and adjust its business practices, even praising the company for its successful efforts.
“In addition to [reducing] costs, we are confident we are enhancing the in-store selling experience as we have converted more labor hours to customer-facing sales activities,” said Sekella on the company’s third-quarter earnings call last December. “And critically important, during the peak holiday selling period, we have right-sized labor hours to more effectively staff our stores during the busiest selling hours of the day.”
66% of Boards Believe GenAI Has Better Use Outside of Finance
According to recent data from 德勤 , most executive boards aren’t interested in implementing AI into the finance functions of the business. Maybe if you stuck some of the two-thirds of the boards who reported thinking this way in a room with Glenn Hopper , they might start to think differently.?
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This edition of Preferred Shares was created by reporter Adam Zaki .
Head of Finance at CCI South Africa | Driving value in BPO, Technology & Financial Services | It always seems impossible until it's done.
7 个月Some good advice on driving meaningful change. Finance must support organizational agility and informed decision-making. A reminder that successful transformation depends on strategic thinking, talent management, process optimization, technology adoption, and a systematic approach.
Head of AI Research & Development @ Eventus | Developing AI-Powered Solutions for the Office of the CFO
8 个月Regarding those boards not pushing for finance teams to adopt generative AI ... I get it (to some extent) based on where the technology is *today*. The problem for those boards and others not exploring the potential of the technology is that if you're not preparing for it today, then tomorrow you're going to be left behind by those who are. Like literally tomorrow.