90% of CFOs plan to use automation and AI by 2024

Do you know that 90% of CFOs plan to use automation and AI by 2024?

That’s according to a survey conducted by NetSuite which also found that Finance departments are increasing adoption of digital technologies to achieve their key priorities, such as identifying growth opportunities, reducing costs , improving FP&A and scenario planning.

After all, it has been estimated that 42% of finance work can be automated, leading to improved outcomes such as shorter AP cycle time, accuracy, compliance, and better supplier experience.

For the uninitiated, the following is the top 10 financial processes that should be automated:

1. Data Entry

2. Accounts Payable (AP)

3. Accounts Receivable (AR)

4. Expense Processing and Management

5. Payroll

6. Purchase Orders

7. Financial Reporting

8. Consolidated Financial Processes

9. Budgeting and Forecasting

10. Sales Tax

If you have not yet embraced automation and AI in your own finance operations, 2024 is the time to do so. Get in touch with us now for a complimentary consultation on how we can help:

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#automation #ai #digitaltransformation #financetransformation