JOHAN STEYN: Robots in the finance team
Technological metamorphosis of the finance function is key to the future of any business
Experts at Gartner, a leading provider of information technology research and consulting services, estimate that the CFO of the future will spend the majority of their budget on artificial intelligence (AI). Smart technology can help them to optimise their departments by removing inefficiencies such as disconnected data and time-consuming processes.
Finance departments frequently disagree on how to collaborate with business leaders outside their ranks. Unconnected data is a major problem, and cost management and reduction are constant concerns. The month-end close process takes an average of up to 20 days for most firms. Automation and efficiency-improving initiatives may be able to help reduce this processing time...