Artificial Intelligence: Redefining the Finance department

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Artificial Intelligence: Redefining the role of the finance department

 

Companies are increasingly embracing artificial intelligence (AI). It may yet be in its infancy, but AI is set to be a game changer within the digital industry, in the wake of Cloud computing and operational task automation.

Whatever their sector, today all companies face a more competitive landscape. The challenges are driven by the speed of technological growth and the need for a more sophisticated understanding of customer behavior.

AI offers an immediate 360° customer view bringing with it crucial competitive and productive gains. There’s now a whole gamut of new opportunities for the taking. Such as the ability to drive performance, compare your performance to that of your competition, reduce churn rates and increase sales.

By pulling together all customer data from company-wide information systems, the Finance Department has become transformed into business facilitator. It is now the partner of choice for the Sales Department. Company siloes are being swept away as it begins to work in a genuinely coordinated way. Customer relations management becomes everyone’s responsibility and customer engagement is placed at the heart of company strategy

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