SystemsDigest’s Post

The latest update for #InsightSoftware includes "3 Ways #LogiSymphony Leverages #AI for Actionable Insights" and "SOX #Compliance Guide". #analytics #BI #DataDriven https://lnkd.in/dN7kEVGn

The latest update for #InsightSoftware includes "Data Prep for #AI: Get Your Oracle House in Order" and "Data Accessibility: A Hurdle Before #SAP's AI Integration". #analytics #BI #DataDriven #LogiSymphony https://lnkd.in/dN7kEVGn

The latest update for #InsightSoftware includes "Transformative Change: How #AI is Impacting the Manufacturing Industry". #analytics #BI #LogiSymphony https://lnkd.in/dN7kEVGn

Hello, Just a reminder of our #sageintacct Lunch and Learn taking place on February 15th from 11:30am-2pm at Glowbal in Vancouver (did I mention it is FREE!?). We will be speaking about AI within Sage Intacct and there will be a fireside chat with a current Sage Intacct client! I look forward to seeing you there! #erp #accounting #finance #cfo #cpa

The latest update for #InsightSoftware includes "The Rise of #AI in FP&A: How insightsoftware Empowers Your Team" and "What is a #DataPipeline?". #analytics #BI #DataDriven #LogiSymphony https://lnkd.in/dN7kEVGn

Don't let legacy applications and limited access to your data hold you back from finance transformation. #GenAI is presenting endless possibilities for finance teams. Read this ebook 📚 to learn how Incorta empowers finance teams with easy access to transaction-level data. https://bit.ly/3HJzG8F #Finance #CFO #datacollection #datareporting #financialplanning #FPA #IncortaX #GenAI #AI #ML

Day 3: AI in Financial Reporting How AI is Enhancing Financial Reporting Processes Body: Hello LinkedIn Community! Welcome to Day 3 of our ten-day series on "AI for Accounting and Finance." Yesterday, we explored the key AI technologies transforming accounting. Today, we’ll dive into how AI is enhancing financial reporting processes. Automation of Data Entry: AI automates the tedious task of data entry, ensuring that financial records are updated accurately and promptly. This not only saves time but also reduces the risk of human error. For example, BlackLine uses AI to automate and streamline the reconciliation process, enabling more efficient and accurate financial reporting. BlackLine uses AI to automate reconciliation, enhancing the accuracy and efficiency of financial reporting. Error Reduction: By leveraging AI, companies can significantly reduce errors in financial reports. AI systems can analyse vast amounts of data and identify discrepancies that might be overlooked by human accountants. This enhances the accuracy of financial statements and boosts overall data integrity. AI-powered tools can detect anomalies and discrepancies in financial data, reducing the likelihood of errors. Real-time Reporting: AI enables real-time financial reporting by continuously analysing data as it is generated. This allows businesses to have up-to-date financial insights, facilitating better decision-making and faster response times. For instance, Oracle’s Financial Reporting Cloud Service uses AI to provide real-time financial insights, empowering organisations to make informed decisions quickly. Oracle’s Financial Reporting Cloud Service provides real-time financial insights, enabling faster decision-making. Predictive Analysis: AI's predictive analysis capabilities allow companies to forecast future financial trends based on historical data. This aids in better financial planning and risk management. For example, Adaptive Insights (a Workday company) utilises AI to provide predictive analytics for budgeting and forecasting, helping businesses anticipate financial outcomes and plan accordingly. Adaptive Insights leverages AI to offer predictive analytics for budgeting and forecasting, improving financial planning. Coca-Cola has implemented AI to streamline its financial reporting processes. By using AI-driven tools, Coca-Cola has been able to automate complex financial tasks, significantly reducing the time and effort required for financial close processes. This has led to more accurate and timely financial reports, providing the company with valuable insights for strategic decision-making. Discussion Prompt: Have you experienced the benefits of AI in financial reporting? Share your experiences and thoughts in the comments below! #AI #Accounting #Finance #Innovation #Technology #Automation #FinancialReporting #PredictiveAnalytics

Capitalizing on GenAI: How CFOs Can Turn Real-Time Insights into Proactive Decisions GenAI helps significantly accelerate thought to action, substantially reducing the manual effort involved in deriving insights. We believe that GenAI will continue to be seamlessly integrated with traditional AI to further enhance insights and predictions in innovative ways. Finance organizations will use GenAI to provide easy-to-understand contextual narratives that explain exceptions, anomalies, and variances in predictions versus forecasts, delivering deep analyses, observations, and recommended actions to address issues or capitalize on opportunities. These contextual narratives will enable broader sharing of insights up and down the organizational chain beyond the FP&A team. We believe that GenAI will also provide explanations of the specific factors that influence a given prediction. This explainability of prediction models is critical for building confidence and trust from the always-skeptical finance users. https://lnkd.in/dhuPhzAt

Missed our AI and Data Analytics webinars? Don't worry, we've got you covered! Access our comprehensive webinar library and catch up on the latest trends and insights. 🔗 https://bit.ly/3Vjb26G #AIEducation #DataDrivenInsights #ContinuousLearning