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Gartner conducted a survey focused on the practices of leading Artificial Intelligence (AI) finance organizations. To classify as a leading AI finance organization for this survey, Gartner required that the following criteria be met:
Many CFO teams across companies of all regions, industries, and sizes continue to waste significant time managing core processes on disconnected spreadsheets. This means they are managing processes using similar tools to finance teams from 30 years ago. World-class organizations have created massive performance and efficiency gaps by adopting modern platforms to manage their FP&A and accounting automation. These platforms continue to evolve and drive efficiency and automation. This level of efficiency now allows these leading organizations to explore even further gains across more cutting-edge technologies such as AI and Predictive.
Gartner points out two significant findings in their survey:
Finding # 1: Leading AI finance organizations are not always the ones who are investing the most in AI.
Finding # 2: Leading AI finance organizations have not been using AI the longest.
So exactly what is the recipe being used by these leading organizations to optimize their AI strategy?
Here are the 4 AI Best Practices for CFOs highlighted by Gartner:
If you’re a CFO and feel your organization is starting to experience a technology gap in comparison to your peers or you are ambitious to become a world-class finance operation, speak to an RVNA Tech expert to help map out a future vision.
Access the report for more detail on these 4 Best Practices as well as additional findings from this survey.
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