With every new day, the potential in AI technology grows exponentially. We may still be a few years away from the inevitable Rise of the Machines, but AI is already a disruptive force in traditional methods of accounting and finance. Offering new levels of automation, AI can give you unimagined freedom from manual tasks that have so long plagued the CFO role. Here are a few ways that AI solutions and cloud-based ERP can shift your processes, freeing you up for high-level projects and larger company tasks. Plus, you’ll see your personal and company value skyrocket.
Automate What You Can
Finance teams are dependent on their staff to close books manually, consolidating and reporting results while harmonizing with accounting structures. It’s a slow and tedious process, despite demand being high for faster closing. (In fact, a recent Adra Match survey showed that 90% of CFOs were under pressure to close books faster.)
But cloud-based ERP can change that. By automating some of the most common tasks, CFOs can relieve pressure on their staff. New Sage Intacct software is showing unprecedented automation power for financial reporting. Automation helps cut quarterly consolidation time from days to hours, allowing you to grow without needed additional staff.
Risk is a big component for CFOs as they gain information from their reporting. With cloud-based ERP software, you can dive deeper into your business, giving you a greater understanding of the true nature of your business. Visibility, after all, is what every CEO demands from his or her CFOs. By improving your analysis, you improve your company’s ability to react.
Harness the Power of the Cloud
It used to be that on-premise systems offered a safe bet for businesses. But slow delivery and implementation cycles were always the bane of the CFO’s existence. That’s all changed. Cloud technology now offers untold freedoms in how finance teams work, with the added benefit of cost efficiency. Users of cloud-based ERP systems are becoming more productive and enjoying enterprise-level security to put their high-valued data on lockdown. Likewise, offsite data storage means less downtime for your team.
Faster, with More Agility and Better Insight
In today’s modern market, the ability to move fact is paramount. When a CEO makes a request, or a new process is unrolled, the right software can streamline execution. With greater insight and flexibility, you become more confident in your long-term decision-making. You enjoy the freedom of better options in the future because your insight into the company’s financials is significantly improved.
Your team is the backbone of your organization. With cloud-based ERP, you streamline processes, giving more leverage to your staff. No more isolated decision-making and lost information. The right AI software solution helps you communicate faster and expedite your financial processes.
Ask us how AI can help transform your business. Call us today.