从AI到投资回报率

basware

Nowitalljusthappens"

FromAItoROI

CFOsandtheFastTracktoValue

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basware

ExecutiveSummary

AIisevolvingfromanemergingtechnologytoan

integralpartofbusinessoperations,anditspotentialisincreasinglyclear.Basware,incollaborationwith

FTLongitude,conductedresearchonthetransformativeroleofartificialintelligence(AI)infinance,witha

particularfocusonmaximizingreturnoninvestment(ROI)forChiefFinancialOfficers(CFOs)andfinanceleaders.

OurresearchshowsthatfinanceleadersviewAIas

essentialforimprovingaccuracy,reducingmanual

tasks,andmeetingcompliancestandards,withtangiblebenefitsacrosscostsavings,operationalefficiencies,andemployeesatisfaction.Inparticular,accounts

payable(AP)andfinancialplanningandanalysis(FP&A)

havebeenidentifiedasleadingareasforAI-drivenROI,withsignificantoperationalimprovements.

However,whilemanyfinanceleadersrecognizeAI's

value,practicalhurdles,includingchangemanagementskills,capitalconstraints,andworkforceintegration

concernsarecommonobstacles.

SuccessinAIrequirestargeted,incremental

implementation,collaborativepartnerships,andclearROImeasurementtobuildconfidenceforfutureinvestments.Throughinsightsgatheredfromaglobalsurveyof400seniorfinanceleaders,thisreportoutlinesstrategies

toovercomethesechallengesandunlockAI'sfullROIpotential.

KeyTakeaways

•AIunlockscostsavingsandefficiencygains:

ManyCFOsreportenhancedcostefficiency,

withAPandFP&AshowingthemostimmediateROIpotential.

•Changemanagementandskillsgapsare

commonbarriers:40%offinanceleaderscitechangemanagementchallenges,and33%

worryaboutcapitalavailability,whichslowsAIadoption.

•Earlywinsboostconfidenceforbroaderimplementation:Successfulpilotsinhigh-

impactareaslikeAPhelpbuildmomentumandsupportforexpandedAIinitiatives.

•Employeebuy-inisessentialforsuccess:

EngagingstaffearlyandfocusingonAI'sroleinreducingrepetitivetasksincreasesworkforce

supportandsatisfaction.

•Incrementalimplementationandpartnershipsdrivelong-termROI:Strategicpartnerships

withAIexpertsandincrementalchangescreateasustainablepathtolong-termfinancialand

operationalgains.

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Contents

04

Showmethemoney:

AI’seffectonthebottomline

10

TurningAIhypeintoreality:

Lessonsfromleaders

15

Beyondthebuzz:

AIisatool,notthegoal

20

AccountsPayable:

TheCFO’squickestROIwin

Introduction

AsAIcontinuesitsevolutionfromafuturisticconcepttoapracticalbusinesstool,financeleadersarebeginningtounderstandandharnessitspotentialtodrive

transformation,speedupfrauddetectionandimproveaccuracy,whileofferingsignificantcostsavings.

ThisresearchreportisdesignedtohelpCFOsand

financeleaderstosecuretheseadvantages.Itdistils

thekeyfindingsfromaglobalsurveyof400senior

financeleaders,providingusefulinsightsandproven

strategies.WhetheryouarejuststartingyourAIjourneyorarelookingtomaximizeexistinginvestments,this

reportwillserveasyourroadmaptosuccess.

ImagescreatedwithAI.

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Showmethemoney:

AI’seffectonthebottomline

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CFOshavelittledoubtaboutthepotentialofAIto

transformthefinancefunction.Arecent

survey

by

consultantMcKinseyfound83%ofCFOsbelieveAIcouldhelpfinanceprofessionalsreducethetimetheyspend

onmanualtasks,allowingthemtotakeonmorevalue-

additivework.However,manyCFOsalsoconcedethat

theyhaveyettofullyseizetheinitiative.Only30%of

financeleadersinasurveybymarketresearchspecialist

Gartner

feltabletoconfidentlydescribetheirbusinessesas“leadingAIfinanceorganizations”.

OurownresearchhighlightsmanyofthedriversofthisandofferssolutionsforCFOskeentomoveforwardwithAIandthebroadertransformationof

thefinancefunction.FromAItoROI,ourglobalsurveyof400seniorfinanceleadersrevealsthat,whileCFOsaredeterminedtoprioritizeinitiativesthatdelivertangible,meaningfulROI,theyareoftenunsurehowtoovercometheassociatedobstacles.

Despitetheseissues,CFOswhofocusonastrategicapproachtofinance

transformationcanharnesstechnologiescapableofunlockingsignificantbenefits.Theseincludecost-savings,enhancedemployeesatisfaction,confidenceinmeetingcompliancestandards,andreducederrors.Butfirst,theymustidentifytheirgoalsfortransformationandinvestmentintechnologiessuchasAI.

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Manyalreadyhaveaclearvision.Inourresearch,almostone-third(32%)offinanceleaderssayimprovedcostefficiencyisthenumberonegoaloftheirfinancetransformationinitiatives(seeFigure1),with55%rankingitasoneoftheirtopthreeobjectives.Inotherwords,themajoritybelievetransformationcandeliverafinancialdividend.

Evenbetter,financeleadersareconvincedthattransformationwillenablethemtodomorewithless.Streamliningprocessesandstrategicallyintroducingautomationto

thebusinesswillbringcross-functionalbenefits.Transformation,manyrespondentsinsist,shouldalsoencompassinnovation,specificallyinAIandotheremerging

technologies.

Figure1:Financetransformationgoalsforfinanceleaders

Drivinggreatercostefficiencies

DrivingAIinnovationandexploitingemergingtechnologies

Improvingexistingtechnologyinfrastructure

Processimprovementandautomation

Improvingalignmentamongkeycompanyleaders

Buildingskillsindataanalytics

Improvingdatareliability

Improvingtheculture,mindsetandbehavioursofthefinancefunction

Operatingmodelredesign(e.g.,sharedservicecentre)

1st

3rd

2nd

Total

14%

9%

32%

45%

15%

18%

12%

48%

12%

15%

21%

33%33%

11%

13%9%

9%

12%12%

9%

8%8%25%

8%

7%10%25%

4%6%

12%22%

3%7%

8%18%

55%

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Hurdlesandheadaches:

What’sholdingCFOsback?

Sofar,sogood.However,whileCFOsmayhaveeyesontheprizesoftransformation,alonglistofobstaclesmeansthereisalsosignificantfearofmissingout.

Someofthoseobstaclesarepractical.For

example,40%offinanceleadersworrytheydonothavethechangemanagementcapabilities

requiredtoexecutecomplextransformation

projectsand33%areconcernedaboutlackof

capital(Figure2).Theirconcernisabouthowtodrivechangeinthemosteffectivewaypossible,andtodrivevaluethroughchangetoensuretheirinvestmentprovessustainable.

PerttuNihti,ChiefProduct&TechnologyOfficeratBaswarepointsoutthatchangemanagementskillsaretransferable.“Aswithanyproject,developingaclearvisionandthencommunicatingthatvisioniskey,”hesays.“StartbybeingclearaboutwhyyouareimplementingAIandwhatproblemsyouthinkitwillsolve.Don’tseethisasmerelyanITexercise.Thisisatransformativeinitiativethatwillresonateacrosseverycornerofyourbusiness,driving

lastingvalueandcompetitiveadvantage.”

Otherissuesaremorestrategic.ManyCFOs

doubttheirabilitytoplanthefinancefunctionofthefuture.Theyarealsoconcernedabouthowtotakepeoplewiththemastheyembarkon

transformation.Thisincludesbothpeersinotherfunctionsandmembersoftheirownteams,whomayworryabouttheimpactofnewtechnologiesontheirjobsecurity.

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StartbybeingclearaboutwhyyouareimplementingAIand

whatproblemsyouthinkit

willsolve.Don’tseethisas

merelyanITexercise.Thisisatransformativeinitiativethat

willresonateacrosseverycornerof

yourbusiness,drivinglastingvalueandcompetitiveadvantage.”

PerttuNihti

ChiefProduct&TechnologyOfficerBasware

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However,theseconcernsareoftenmisplaced,says

DarrenEllis,ChiefFinancialOfficer,EuropeandAmericasat

StandardChartered.“WewantAItosupplementandaugmentthehumancapabilitythatwehave,keepinghumansintheloop.Ifyougetitright,thatbalancecanbereallypowerful.”

Thereareothersolutionstogainworkforcebuy-in.“Involveyouremployeesatanearlystageandtalktothemabouttheparts

oftheirjobstheywouldliketogetridof,”saysAnssiRuokonen,Basware’sDirectorofAIResearchandEnablement.

EmployeeswilllikelyneedtoexpandtheirskillstoworkeffectivelyalongsideAI.“Youneedtotrainyourteams,whilekeepingthem

awareoftheimplementationprocessandsupportingthemtobekeyAIusers,”saysTomAussems,GlobalFSSCAPTowerHeadatAvolta.

Adifferentapproachmaybeneededtogetleadersonboard.

Ruokonennotesthatemphasizingfinancialimpactmaybemore

effectiveinthesecases.“Takeleaderswithyoubyfocusingonthepayback–bothintheshortandlongerterm.”

Anotherissue,warnthree-quartersoffinanceleaders(75%),isthatwhiletheywanttoincreaseinvestmentsinAIwithinthenext12‒18months,currentlytheydonotknowwheretostart.Thekeyhere,

saysRuokonen,istodefineyourgoalsandhowyouwillmeasuresuccessagainstthem.“Infinancespecifically,mostleadersstartbylookingattheirbiggestcostsandinefficiencies–theylookforthesmallchangesthatcouldhavethebiggestimpacts.”

AussemsnotesthatAvoltaiscurrentlyusingAI-drivenprocess

miningtoolstoidentifybottlenecks.“Forexample,wecansee

exactlyhowmanyinvoiceswereprocessedmanuallyandhow

manystepstherewereattheclick-level.WithAItools,wewillgetthisvisibilityimmediately,whichalsohighlightsthepotentialforfurtherautomation.YoureallyneedtoinvestinAIwhereyoucanseeresultsstraightaway.”

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Figure2:Obstaclestotransformation

40%

33%

31%

28%

27%

24%

24%

20%

19%

18%

18%

18%

Lackofchangemanagementcapabilitiestomanageacomplextransformationprogram

Lackofclearstrategicvisionforthefutureofthefinancefunction

Legacysystemsthatnolongermeetourrequirements

Lackofintegrationwithotherenterprise-widechangeefforts

Workforceresistancetonewtechnologiesandprocesses

Lackofskillsand expertisetodelivertransformationpriorities

Budgetconstraints

DifficultyprovingROIoftransformationinitiatives

Regulatoryand

compliancechallenges

Poordataqualityandaccessibility

Lackofsupportandbuy-infromotherkeyleaders

Impactonbusinesscontinuity

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HowtoforgeyourpathtoROI

How,then,dofinanceleadersmovepastthe

challengestosecuretheROIopportunitiesfromtransformation?

CFOsmustfirstrecognizethattheydonothavetodrivechangeallbythemselves.Partnershipsarecrucial.Experiencedtransformation

professionalscanhelpfinanceleadersdevelopaviablevision.Theycanalsohelpthem

implementthatvisionbyofferingsupportwithprogramdesignandchangemanagement.

JasonKurtz,CEOofBasware,explains:

“Mostofourcustomerscountonustohelp

themfigureouthowtouseAIeffectively.We

bringourexperienceofworkingwithother

organizations,aswellastheproofpointsthatdata-focusedfinancialprofessionalsarelookingfor.”

It’salsoimportanttorecognizethatchangewill

beincrementalandsuccessesateverystageoftheprogramwilldrivemomentumtowardstrongerROI,givingconfidenceforfuture

investments.

“Thegoodnewsisthatthebusiness

caseisstrongforAIROIinareassuchas

accountspayable(AP),”addsKurtz.“Proventransformationsuccessstoriesensurethatchangefeelslessrisky.”

Asforreassuringnervousstaff,thekeyistosetoutapositivevisionofwhatchangewillmeanforthem.“Transformationoffersbenefitsmostfinanceprofessionalswillwelcome,”suggests

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AnssiRuokonen.“InspireyourstaffwithexamplesofhowAIassistantswilltakeovertedioustasks,sotheycanfocusonthestrategiclevel,whichiswhatmostpeoplecameintofinancefor.”

Precisemeasurementofprogressiscrucial.Financeleaderswithatransparentviewof

ROIwillhaveconfidenceinfurtherinvestmentandinnovation.Thisislikelytobeparticularlyimportanttofinanceleaders,addsKurtz.

“ProductivityandefficiencyKPIsarereallyvaluable,”heargues.

AussemsagreesthatleadersneedtoseetangibleexamplesofAI’sadvantagetofullybuy-into

thetechnology.“It’ssoimportanttohaveasolidbusinesscaseforAI,andseeingisbelieving.”

Timescalesmattertoo,addsRuokonen.“Those

lookingforaquickreturnmayavoidthose

longer-termandmoreuncertaingoals,infavorofchangestheyknowtheycanexecute,perhaps

withapartner.Then,youcanshowitworked

outandstarttothinkaboutmoretransformativeprojects.”

Thebottomline?ThepathtoROImaynotalways

runstraight,butcollaborationwithtrusted

advisers,technologyproviders,andstaffwithinthefinancefunctionitselfcanhelpCFOstobebraveinforgingahead.DarrenEllisbelievesthattheresultsareworthstrivingfor.“Forme,the

biggestlearningistobecuriousandembracechange.TheopportunitiesAIcreatesarefargreaterthantherisksofdoingnothing.”

vvTransformationoffers

benefitsmostfinance

professionalswill

welcome.Inspireyour

staffwithexamples

ofhowAIassistantswill

takeovertedioustasks,so

theycanfocusonthestrategiclevel,whichiswhatmostpeoplecameintofinancefor.”

AnssiRuokonen

DirectorofAIResearchandEnablement

Basware

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TurningAIhypeintoreality:

Lessonsfromleaders

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HowdofinanceleaderscutthroughtheAIhypetorealizegenuineadvantages?Amidalltheexcitementabout

thisemergingtechnology,therearealsoclearwarnings.InvestmentbankGoldmanSachs,forexample,

recently

warned

thatcapexdevotedtoAIinrecentyearsdoesnotalwaysdeliveronROIexpectations.

Ourownresearchalsosoundsanalarm:notallorganizationsbenefitequallyfromAIinitiatives.Onthepositiveside,weidentifiedacohortofAIleaders

whoaremuchclosertosecuringtheROItheyhopedfor.Thedownsideofthisis,ofcourse,thereareothersnotyetseeingthosebenefits.

Closingthegapisvital,arguesJasonKurtz.“Thereisasenseofurgency.

Peopledon’twanttoleavemoneyonthetable,”hewarns.“Weneedtofocusonfindingthosequickwins.”

Byunderstandingandreplicatingtheattitudesandbehaviorsofthoseleaders,otherorganizationscanbegintocatchup.

Critically,arguesPerttuNihti,Basware’sCPTO,individualleadersdonothavetobe

technicalexperts.“Youneedsomeonewhoisgoingtochampionthecauseeffectivelyandtakeownership,”hesays.“Theymayneedsomebroadknowledgeaboutwhatispossible,butthatneedstobealignedwithbusinessgoals.”

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Whoaretheleaders?

Ourresearchwith400seniorfinanceleadersworldwideincludedaseriesofquestionsabouthowtheyprioritizeAI,andwhereandtowhatextenttheyimplementthe

technology.Itidentifiesa‘leadergroup’consistingoforganizationsthat:

RegarddrivingAIinnovationasoneoftheirtopthreegoalsforfinancetransformation.

AreapplyingAItoall/keyAPprocesses.

LeadingCFOsarefuture-focused

Leaderstakeadistinctviewofthe

barrierstotransformation(seeFigure3).Leadersdonotclaimthepathtochangeisobstacle-free,buttheyemphasizespecificchallenges.Theyaremorelikelytobe

confidentintheirchange-managementcapabilitiesandstrategicvision.Also,

havingsuccessfullyimplementedsomeAIinitiatives,leaderscanbackupclaimsofstrongROIforthetechnology.

OtherCFOscanlearnfromtheleaders’

exampleandwillseechange-managementcapabilitiesimproveastheyprogress

theirtransformationactivities.Theywillbeparticularlysuccessfuliftheysetthevision,chartastrategyforgettingthereandworkcollaborativelywithcolleagues–employeesandleaders–attheoutset,ratherthanimposingchange.TheirinitialforaysintoAIimplementationwillalso

helpbuildthevaluecaseforfuturecapex,deliveringROItovalidatetheirapproaches.“Weareinagoodposition,becausewe

aredealingwithclearusecases,”saysAnssiRuokonen.“Wearedealingwiththingswhichwecanmeasure.”

Inotherwords,whiletheseearlyexperimentswithAIinfinance

transformationmayrequirealeapoffaith,thetestimoniesofthosethathavetakenitsuggestcouragewillberewarded.

LeadersarecashinginwithAI

Theleadersinourresearchfocuson

buildingontheirearlysuccessesandon

addressingchallenges,fromregulatory

andcompliancefrictiontoheadaches

arounddataqualityandaccessibility.TheyhavealreadyachievedtheROIpotential

ofAIandarenowdeterminedtomaximizethosereturns.

OtherCFOscanlearnfromtheleaders’exampleandwillseechange-

managementcapabilitiesimproveastheyprogresstheirtransformationactivities.Theywillbeparticularlysuccessfuliftheysetthevision,chartastrategyforgettingthereandworkcollaborativelywithcolleagues–

employeesandleaders–attheoutset,ratherthanimposingchange.

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Figure3:Leadersarefocusedonregulatorychallengesandbudgetconstraints

38%

35% 31% 29% 27%

22% 21% 20% 20% 19% 17% 16%

0%

Budgetconstraints

Lackofchangemanagementcapabilitiestomanageacomplextransformationprogram

Regulatoryandcompliancechallenges

DifficultyprovingROIoftransformationiniatives

Lackofclearstrategicvisionforthefutureofthefinancefunction

Legacysystemsthatnolongermeetrequirements

Poordataqualityandaccessibility

Lackofskillsandexpertisetodelivertransformationpriorities

Impactonbusinesscontinuity

Workforceresistancetonewtechnologiesandprocesses

Lackofintegrationwithotherenterprise-widechangeefforts

Lackofsupportandbuy-infromotherkeyleaders

None–therearenobarriers

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Anotherkeypointisthattheseleadersareshootingfor–andsecuring–abroaderrangeofbenefitsfromAIimplementation(Figure4).Forexample,sinceinvestinginAI,almostalltheleadersinourresearchhaveenjoyed

reducederrorratesandfasterfrauddetection.

Asfinanceleaderscontinuetoworryaboutbudgetarypressures,it’simportanttonotehowmanyCFOsinthisresearchcitethesavingsfromtransformation.

Overthree-quarters(76%)pointtoreducedoperationalcostssinceAIimplementation,while64%highlightincreasedprocessefficiency.

Inanycase,arguesBasware’sPerttuNihti,AIimplementationsmaynotbe

expensiveassomefear.“ThefeelingisthatAIwillonlybeusefulifyouhavevastamountsofdata.Butqualityismoreimportantthanquantity,”hesays.“Focusongettingtherightdatacleansedandintothecorrectformat,ratherthanfeelingyouhavetothroweverythingin.”

Thatsaid,largerdatasetscanstillenhancequality,asAImodelsimprove

continuouslybyprocessingmoreinformation.Partneringwithexpertswith

advancedAIofferingsisaneffectivewaytotapintomoresophisticated

models.“AtBasware,weprocess200millioninvoicesayear:overtwobillioninourlifetime.That’sareal,soliddatasetandtheAIisbetterbecauseofit,”saysJasonKurtz.

AswellasconsideringAIimplementationasaninvestmentintechnology

andyourbottomline-it’simportanttoconsiderlong-terminvestmentin

yourpeople.It’snotablethatalmosttwo-thirds(65%)ofourleadercohort,reportimprovedemployeesatisfactionsinceinvestinginAI.Moreover,inthisresearch,theuseofAIinfinanceappearstohavebeenwelcomedbythe

function’sworkforce.

Asfinanceleaderscontinuetoworryaboutbudgetary

pressures,itisimportanttonotehowmanyCFOsin

thisresearchcitethesavingsfromtransformation.Overthree-quarters(76%)pointtoreducedoperationalcostssinceAIimplementation,while64%highlightincreasedprocessefficiency.

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OurresearchsuggestsAIwillbecriticaltoaddressingthe

risksthatmostconcernfinanceleaders.Askedwhichissuesincurthegreatestcostsfortheirbusinesses,CFOslist

inefficientprocesses,talentretention,inaccurateforecasting,andfraudulentactivity.Ineachcase,ourleadercohorthasexperiencedimprovementowingtoAIimplementation.

Thelessonforothershereisclear,saysKurtz:AIis

afundamentaltoolforfinanceleadersembarkingon

transformation.“Thevalueisthere,”hesays.“Everydayyouwait,youareforgoingbenefits.”

vvThevalueisthereinAI.Everydayyouwait,youareforgoingbenefits.”

JasonKurtz

CEO

Basware

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Figure4:LeadersreapthebenefitsofinvestmentinAI

98%

95%

89%

Reducederrors

Fasterfrauddetection

Moreaccurateforecasting

76%

75%

73%

Reducedoperationalcosts

Enhanceddecision-makingcapabilities

Betterregulatorycompliance

68%

65%

64%

62%

Easierscalabilityoffinanceprocesses

Improvedemployeesatisfaction

Increasedprocessefficiency

Increasedemployeeproductivity

57%

Improvedcustomersatisfaction

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Beyondthebuzz:

AIisatool,notthegoal

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Amidallthenoise,it’seasytoforgetthattechnologyisameanstoanend,ratherthanthefinishline.IffinanceleaderscanidentifytheareaswhereAIwillmakethe

greatestimpactonperformance,itwillinformtheirinvestmentpriorities.

Figure5:Valueinsight

Itmakessensetotargetthelow-hangingfruitfirst.Ourresearchrevealsthatmanyorganizationsaredoingexactlythat,byfocusingontheuseofAIto

releasestafffromrepetitivetaskstofocusonhigher-valuework.

70%

OuremployeessaytheywantAIsupportforadministrative

tasks

75%

AIhasenabledourworkforcetofocuson

morestrategicactivities

Inourresearch,sevenin10financeleadersreportthatstaffaredemandingAItoolsthatwillrelievetheadministrativeburden.Three-quartersaddthatdeployingthesetoolshasalreadygivenstaffmorefreedomtofocuson

strategicwork(seeFigure5).

However,manyorganizationsarenowlookingtogofurther:morethantwo-thirdsoffinanceleaders(68%)believetheirbusinesscoulduseAImore

effectivelytosupportfinancetransformation.

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AIisnotaone-size-fits-all

WhileAIundoubtedlyhasgreatpotential,itshouldnotbepursuedforitsownsake.Companies

embarkingonAIinitiativesshouldadopta“use

casefirst”approach,saysAnssiRuokonen.

InsteadofstartingwithAIandsearchingfor

applications,businessesshouldidentifyspecificchallengesfirst,thenexplorehowAItoolscan

effectivelyaddressthoseneeds.Thistargeted

approachensuresthatAIinvestmentsarealignedwithclear,practicalgoals,ultimatelyleadingto

moremeaningfulandimpactfulresults.

WhereAIopportunitiesareidentified,finance

leadersthenneedtofindsolutionsthatbestfittheseusecases.CFOsarenot,norneedtheybe,technologyexperts.However,lackingawarenessaboutthedifferenttypesofAIandtheir

applicabilitytothefinancefunctioncancontributetosubparresults.“LeadersneedtoembraceAI

andacceptthatweprobablywon’tunderstanditall.Thatdoesn’tmeanweshouldjustignoreit,it

meanstherearenewskillsweneedtolearn,”saysDarrenEllis.

ExpandingknowledgeofAIrequires

understandingitsnuances.“TherearedifferenttypesofAIfordifferenttypesofproblems,”saysAnssiRuokonen.“Somearemorematurethan

others,somehaveveryspecificusecasesandothersareapplicabletoavarietyofdifferenttasks.”

Forexample,thelaunchofChatGPTin2022

broughtgenerativeAI(GenAI)totheforefrontofpublicconsciousness,butperhapscontributed

toacommonmisconceptionthatit’stheonly

toolavailable.“IfyouaskpeopleaboutAI,almosteveryonewillstarttalkingaboutChatGPT,as

ifthistoolwastheconceptionofAI,whichisobviouslynottrue,”saysPerttuNihti.

WhilethereareopportunitiesforGenAIinthe

financefunction,itisfarfromauniversalsolutiontoeveryproblem.“GenAIworkswellforcoding,orcreativetasks,butitshallucinationsandvariances

areoftennotwhatwearelookingforwithincorefinanceprocesses,”notesRuokonen.

Instead,predictiveAIoffersmorepotential,

saysPerttuNihti.“There’samassiveusecaseforpredictiveanalyticswithinfinanceteams,withsignificantbenefitsforrevenueprediction,purchasing,cashflowandsoon.”

Identifyingtherightsolutionswithouta

technologybackgroundcanbedifficult.BuildingnewAImodelstosolvespecificproblemsisevenmoreso.Forseniormanagementstrugglingwiththis,partneringwithexpertsthatspecializeinAIforthefinancefunctionmaybethemosttime-andcost-effectiveroute.

ButTomAussemsemphasizestheimportance

ofmakingsureAIinvestmentsaretailoredto

individualbusinesses.“Youcanbuyagreattool,butifyoudon’thavethecustomizationsthatareneededforyourbusiness,thenitwon’twork.

LeadersmustfocusontheirowncompanyandprocessestoseeROI.”

PartneringwithexpertsthatspecializeinAIforthe

financefunctionmaybethemosttime-andcost-effectiveroute.

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TargetinggreaterROI

Beyondjustpickingtherighttoolsforeachfinance

task,thekeytoenduringsuccesswithAIistokeep

focusingontheROI.Everyinvestmentmustdeliverareturnbeforeyoumakeanotherfinancialcommitment.“Everyoneisfeelingthepressuretodeploythesetools,butfinanceleadersrightlywanttoseeareturn,”saysJasonKurtz.“Theywantdemonstrableproofpoints,sotheyknowwhatthey’regettingright.”

vvItisalearningjourney:

onceyouknowwhatworksandwhatdoesn’t,your

executionofthenext

projectwillbemuchbetter.”

AnssiRuokonen

DirectorofAIResearchandEnablementBasware

Indeed,almosthalfoffinanceleadersinthisresearch(48%)warnthat,ifAIdoesnotdemonstrateinitialvaluewithin12months,itwillbechallengingtojustifyfurtherinvestment.

Thatrequiresorganizationstothinkhardabouthow

tomeasurethefinancialimpactofAI.Financeleadersunderstandhowtoprioritizeusecasesforinvestment,estimatecostsandmonitorreturnsfromreduced

costs,improveoperationalefficiency,