5 Reasons Why Finance Needs to Evolve

The true cost of finance inefficiency can cost 75%* in overhead waste. Here are several recent stats to inspire you to transform and future-proof your finance department.

[*Source: PwC Finance Effectiveness Benchmarking, August 2019. Base: 2,929 finance function managers to executives, global sample.]

• 61% of finance teams feel improving technology will improve their team.

30% to 40% of time can be reduced with finance automation and behavior change.

• Finance spends 40% of their time managing data collection for reporting.

The biggest time-wasters in the finance realm go to: General Accounting and Billing tasks.

75% of time is devoted to analysis versus data gathering for top-performing finance functions.

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Waste Redution and Automation Potential

“Leading finance functions continue to drive waste and inefficiency out of their process, leverage technology and sourcing in innovative ways, and are more aligned with internal customer priorities”

Source: PwC finance benchmark data

What is the Future of Finance?

Finance Transformation, Explained.
As A.I., Cloud and Data Automation become more essential business technologies, Finance now has the opportunity to keep up with divisions such as Sales, Marketing and IT who have already made technological evolutions, and reposition itself to keep up with other departments.

In the past, finance was focused on gathering data, but now, finance can use data to build strategic insights to guide the entire company.

How CAiDENN Gets You There

CAiDENN’s A.I.-driven Cloud platform and operational expertise will position your finance team to be more valuable, scalable and cost-effective.

Many companies and consultants out there come in, and merely automate your process. With CAiDENN at the helm, we position your team at the intersection of A.I., finance and machine learning so you can create future-proof processes that will save your company time and money.

  • We help finance fill its role within the bigger picture, and ensure finance doesn’t hinder the transformation and agility of the company’s future growth.
  • We give you information that fits into the larger strategy: We’re not just the arbiters of data, billing, revenue, creating invoices, and billing statements. We also solve the pain-points you face today!
  • People, process and technology—We bridge the gap across these three success pillars to transform your finance team into a high-performance machine. 

Transformation Your Finance team in under 6 Month

Transaction efficiency faster turnaround sharper real-time insight