In this episode of the Office of the CFO podcast, John Siefert, CEO, Dynamic Communities & Cloud Wars, hosts Ari Liukko, Product Line Leader (Business Central), SignUp Software, and Koen Cuypers, Product Line Leader – ExFlow & Axtension F&O, SignUp Software, for a conversation on CFO priorities, the impact of AI and automation, perception and communication gaps, and driving efficiency.
Key Takeaways
- Report takeaways: “We need to make sure that people understand the urge of investing into a technology — like AP automation solutions, fraud protection, and AI — to really be ready for the future,” Cuypers says. Liukko comments on the concept of a perception gap because “you can relate that in so many different parts of business.” It’s important for business leaders to be communicating about initiatives and priorities.
- AI, automation, and fraud: Data is being generated more and more as everything becomes digital. “The thing is making sense out of all that data,” as well as identifying the challenges, Cuypers acknowledges. “Applying AI in the places where it can really help us, making sure that every user interaction with the system provides value instead of doing repetitive things — that’s where the future is.”
- CFO priorities: Determining how to be protected against fraud should be top of mind for CFOs. Additionally, as a CFO, you should be compliant and be aware of mandates. Of course, CFOs also must consider cost, shifting that cost into a value conversation.
- Putting automation to work: Organizations strive for automation and autonomous finance. However, Cuypers notes, “In the end, we need to redefine the rocky model and include agents somewhere.” Automation serves to ensure that tasks and processes create value.
- Trusting data and driving efficiency: Liukko highlights the importance of trusting data as well as trusting the investment in automation. Cuypers adds, “If you don’t have the data set up correctly, if you don’t create a universal and single source of truth or something that AI can actually start building up for future scenarios, that makes it really difficult.” Further, leaders are part of driving the efficiency with automation, maintaining compliance, and protecting against fraud.
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