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"The CFO’s Journey: Embracing AI Technology for Financial Transformation"

Posted by Daniella Sullivan on 29/04/2024


Chief Financial Officers are embarking on another journey with technology; it is now the turn of AI to come into the spotlight for the CFO and their finance team. With the CFO role becoming even more important in every company, technology is playing another significant part in the way it helps companies grow. As AI helps gather, analyse, and interpret financial data in real-time, more CFOs are adopting this technology with the collaboration of their stakeholders. It is something that companies around the UK will be discussing, now that it is here to stay and it represents a cost to the business. The CFO is fully under the spotlight of transformation. It is a huge shift from the status quo, bringing the company's assets and guarding against risk into a different focus. Having this technology means that it will change how the work gets done and improve and strengthen the financial data provided, all factors that move the strategy of the CFO into a much more positive position, particularly if they are looking to play a bigger part in value creation. If you are a CFO who is already working with AI, you will be able to look at capital allocations in multiple scenarios, forward projections, and much more accurate forecasts. Some finance teams are taking this even further with data being accessed from factories and manufacturing plants to prioritize capital expenditures. There will be challenges that the CFO will deal with along the way but overall, this technology can bring a huge change, putting the CFO front and center, helping their companies identify, monetize, and create new opportunities.

For any finance-related inquiries, please contact me or my colleagues in the London or Reading teams for a confidential discussion. If you have questions related to technology, feel free to reach out to my colleagues specializing in Salesforce, IT, Data, and Analytics.

Contacts us on: 0207 633 2266.


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