Smart Compliance with Explainable AI in Finance
AI Chatbots in Finance for Vendor Management
Predictive Spend Analysis in Corporate Budgeting
AI for Real Time Bookkeeping and Forecasting
Transforming Enterprise Finance with GenAI
Introduction So far in our Beyond ERP blogs (here, here and here), we discussed how enterprises struggle with obtaining actionable insights from ERP systems, how a solid data foundation can enable scalable insights and automation, and principles to adopt while doing visualization. The idea was to set the foundation for digitizing the finance function. Let’s […]
Hidden Costs of Poor Data Quality in Finance
Introduction Enterprises use various applications across departments to solve for their pressing business needs and data has traditionally been a secondary thought. Though the recent applications have focused on integrations but the data residing within two applications do not talk to each other. This has caused Data to be everywhere but with GenAI in focus, […]
Intercompany Reconciliation with Data Analytics
The Crucial Role of Intercompany Reconciliation in Modern Finance In our discussions with Finance teams, Reconciliation comes on top of their mind, and we got requests from teams on how they can solve the Reconciliation challenges. As per a recent study, highly automated intercompany accounting process have 75% fewer full-time equivalent (FTE) staff and enterprises […]
Data Reconciliation Challenges
Significance of Data Reconciliation in Finance and Accounting One of CFO team’s biggest responsibilities is creating a set of consolidated financial statements. Financials are the scoreboard for a company’s performance, and they need to be aggregated in a centralized place. This requires data to be pulled across multiple business lines, departments, product lines, currencies, and […]
Data Foundations for ERP Migration Success
ERPs are the core of transactional systems and the book for record. They are the backbone of transaction processing, process alignment, and compliance. Like every other application, to align to evolving technology, business changes and new business models ERPs have to be upgraded, reimplemented, or replaced. ERP migration is a complex, high-stakes endeavor, especially in Finance […]
Data Driven Financial Decision Support for Mid Market
In the past decade, mid-market companies (revenues of $10million to $1 billion) have undergone a significant transformation. Traditionally these companies were focused on domestic markets or had very limited international operations. However, these businesses are now expanding globally. The reasons can be either driven by market opportunities, supply chain diversification, or customer demand. Increasingly, mid-market companies are operating as multi-entity organizations spanning regions like the US, Europe, and beyond. This […]