Even is if it only in the early stages of growth, artificial intelligence already has an exponential adoption curve in companies. A.I. is now seen as the new revolution in the digital industry, after Cloud computing and automation. Companies gather huge amounts of data that they are willing to exploit to orientate decision-making procedure. In light of this situation, Chief Financial Officers can benefit from these new solutions to gain speed and accelerate performance. Companies do not hesitate to exert this leverage, becoming precious in a more and more competitive environment.
Artificial intelligence is the CFO’s new ally.
Predict payment delays, evaluate customer accounts, grade payment behaviors, and prevent risk… These growth acceleration axes that were out of the range of CFOs are now attainable. Data can be decrypted in real time to provide CFOs with a predictive payment score for each customer. Finally, CFOs can evaluate their improvement margin with each customer and identify new cash fields on each business line. Becoming business-partner, the CFO provides the Sales team with a tangible and reliable information to negotiate payment terms and accelerate cash generation. Artificial intelligence break down silos and facilitates collaboration between departments by exploiting the 21st century’s gold: data.
The quest for performance is the first reason companies deploy predictive analysis solutions (57%), followed by the creation of new revenue source (50%) and the improvement of profitability (46%).
CFOs can put away their Excel sheets and count on the power of predictive models and machine learning to visualize in one click customer payment behaviors and prioritize efforts to improve performance. Artificial intelligence provides the CFOs with valuable information such as agreed payment terms and late payments for each customer. The evolution of performance can be steered in real time via personalized dashboards and alerts.
Agility becomes a crucial stake for companies. In the super-connexion era, the Finance function must rely on agile and fast systems to trigger easily operated levers and assist decision-making. Artificial intelligence platforms answer to this need for agility by adapting to business requirements in real-time. Sales, Customer Service, Finance: the CFO has a 360° vision on the entire customer cycle, intra-company as well as on the market.
Identify new business opportunities
The CFO supports the digital shift carried out by companies to search for value and competitiveness.
In the “smart data” age, smart information harbors high added-value.
Predictive analytics gives to the CFO the keys to identify new business fields, new cash opportunities and settle the goals to reach. The Finance functions embrace a new role in the growth of sales and business, creating a need for a global vision on new customer acquisition, churn, sales development and predictive behavior. Artificial intelligence is a leverage to exert to grow business and capitalize on the value of data.