Sameer Agarwal Industry and CFO 4.0 describes the digital transformation of conventional processes by linking technologies including the internet of things (IoT), big data, augmented reality (AR) and virtualisation, artificial intelligence (AI) and digital communications infrastructure. 4.0 delivers benefits, ranging from decentralised decision making in real time. As per market research, CFO’s are spending close to 30% of their time on strategy and balance 70% on traditional responsibilities. However, over the time to come, this will flip and CFO’s would end of spending more than 70% of their time on strategic imperatives of their respective organizations. Automation can help ease the burden on CXO’s like CFO’s, CHRO’s, Supply Chain as there is a huge movement towards standardizing data, monitoring financial controls, hiring, managing and engaging with the employees, working capital controls and remediating issues—leaving more time for strategic initiatives. Going into a little more depth on this issue, this will start by replacing the transaction making teams and basic analytic and manual forecast -related FP&A teams as that work would get replaced by Chat bots, AI which would be able to slice and dice data based on oral commands and RPA which has automated the Order to Pay process, […]
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