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AI governance is paramount for finance professionals in corporations due to the significant impact of AI on financial decision-making, risk management, and regulatory compliance. Download the eBook to learn more about AI governance for finance.
Finance teams are finally embracing digital, but they must not be complacent about the risks associated with transformation. However, such transformations must be supported by vigilant cybersecurity processes. Download the eBook to learn more.
eBooks and Info Graphics – Thought Leadership for Finance Professionals
State of Automation in Finance Annual Survey Reports
Hundreds of accounting and finance professionals helped create the most comprehensive survey of finance-office automation which highlights the need for finance teams to embrace automation, similar to a high-performance race car that relies on the latest technological advancements to win.
Some of our key findings include:
- Finance is embracing AI. With 40.4% of finance professionals emphasizing process enhancements and 32% highlighting AI and Machine Learning as the top technology trend, it’s clear that automation is here to stay.
- AP & AR top the list of most manual work. Accounts payable and receivable were ranked as having the most manual work for the fourth year in a row.
- Finance understands the need for advanced technology. While robotic process automation (RPA) set the stage for AI, it’s time for AI to be in the spotlight, as only 10.2% believed that RPA will make an impact this year.
Hundreds of accounting and finance professionals helped create the most comprehensive survey of back-office automation.
We unearthed several key findings:
- Most respondents say that their finance back office is not sufficiently automated.
- Accounts payable and receivable were ranked as having the most manual work for the third year.
- Time spent on manual or repetitive tasks is the biggest challenge in the finance office, followed closely by time spent checking and updating data.
- One-fifth of the respondents indicated they would implement advanced levels of analytics and reporting in the next year.
More than 500 accounting and finance professionals helped create the most comprehensive survey of back-office automation to date.
We uncovered several key findings:
- Despite the pandemic accelerating digital transformation across offices and departments, the corporate finance back office has remained essentially unchanged.
- Repetitive, manual tasks are rampant in the corporate finance back office.
- Corporate finance professionals face several challenges across the back office, many of which are solved with technology and automation.
Hundreds of accounting and finance professionals helped create the most comprehensive survey of back office automation to date.
We uncovered 12 key findings, including:
- Most companies automate a small fraction of back-office processes.
- Accounts Payable and Accounts Receivable are the most manual back office processes.
- Nearly half of practitioners feel repetitive work is a massive drain on the organization.
The Future of Finance Has Arrived: 2022 State of Automation in the Finance Office Report
Automation.
We recently surveyed more than 500 finance professionals to find out exactly that. Our report takes a deep dive into the responses collected from the corporate finance office, including the tasks that take up the majority of a finance professional’s time, the top challenges within the finance office, and the current and future state of automation in finance.
Our third-annual Automation in the Back Office report shows that automation is here to stay. Automation is no longer a “nice to have,” and corporate finance must step up to embrace automation or risk getting left behind, or worse, becoming even more overwhelmed and overworked resulting in burnout, turnover, and greater risk for the organization.
Tipping Point: 2021 State of Automation in the Back Office Report
While the COVID-19 pandemic is almost in the rear view, the ripple effects will reverberate for years to come. Remote working and off-site conditions helped highlight the significant need to embrace the digitization of processes across the enterprise.
The “new normal” spotlighted one major department in need of automation: the corporate finance back office. As a result, we recently surveyed more than 500 finance professionals to understand automation in the back office.
Infographic: Auditoria.AI 2020 Survey of Automation in ERP and the Finance Back Office
We surveyed several hundred finance professionals across the US and asked them to complete a simple twelve-question survey.
Building the Business Case for AI-Driven Finance Automation
Intelligent Automation enables businesses to automate a far-ranging set of workforce processes quickly, accurately, and efficiently.
Intelligent Automation encompasses a set of techniques that span from augmenting humans in correspondence automation, automating repetitive tasks and processes, and delivering predictive insights that can elevate critical performance indicators and accelerate decision making.
Intelligent Automation for Corporate Finance Transformation
Intelligent automation represents the overall umbrella of technologies that enable the transformation and automation of business processes by leveraging any combination of software robotics, cloud, artificial intelligence, and smart machines.
It comprises basic robotic process automation and cognitive automation and is enabled by rules-based macros, artificial intelligence, and natural language processing.
Guide: 9 Steps to Enhance Your Workday Financial Management
Enhance your Workday Financial Management system with intelligent applications to boost precision, effectiveness, and decision-making prowess.
Intelligent apps leverage generative artificial intelligence and machine learning to superpower outreach, data extraction, and mailbox management. Set up and maintenance is effortless with a “no code / low code” approach and business-led administration.
Playbook: Using AI and Automation in the Finance Back Office
Only a fraction of back-office processes are currently automated, and that includes the most manual tasks of all — accounts payable and accounts receivable.
AI-powered automation transforms the finance back office, allows CFOs to harness financial data to work smarter, and enables business continuity and resiliency.
Checklist: 8 Steps to Elevate Your Finance Operations with AI-Powered Apps
Innovative tools such as AI and machine learning are helping organizations streamline their core finance functions and strategically modify their forecasts.
By following the eight steps in this checklist, businesses can determine the missing pieces in their finance systems and begin the journey of modernizing their finance operations.
Powering the Self-Driving Finance Back Office
Finance and technology visionaries, investors, and early adopters of A.I. preview what the future holds for the autonomous enterprise.
Length: 3:26
Introducing Auditoria: How It Works
Find our how Auditoria.AI is helping finance teams become more efficient, faster, and smarter than ever before in this short two minute video.
Length: 2:00