How Advancements in AI Technology Can Benefit Finance Departments

Posted by Steve Boyes on Aug 25, 2023 10:30:00 AM

In today’s digital world, technological breakthroughs are becoming more common. However, nothing has revolutionised day-to-day life quite as much as Artificial Intelligence. Computers having the ability to emulate human thoughts can seem concerning at first and while there are challenges to overcome, the benefits are substantial. When AI is used responsibly, it can transform the way finance departments operate.

 

AI has been in the media almost daily over the past few months and as the public becomes more aware of the capabilities of AI, it’s no surprise that CFOs and finance leaders are keen to reap the benefits of this technology. There are several ways forward-thinking finance teams can leverage the power of AI technology for finance departments. Various elements of the accounting process could be improved with the right AI tools, significantly enhancing productivity and output.

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Using Sage 200 to Overcome Common Inefficiencies

Posted by Steve Boyes on Feb 23, 2023 5:03:05 PM

Over time, it isn’t uncommon for businesses to find themselves in a situation where they’re using several different software solutions to manage everyday operations. Many will implement new software as and when their needs change, particularly during times of growth, resulting in an overly complicated and inefficient way of working.

If you have separate software solutions in place to manage things like your accounting, supply chain and customer relationships, you would likely benefit from upgrading to one all-encompassing system. However, the up-front cost of a new system can be off-putting so many will try to convince themselves that they’re coping just fine with their current software and that their inefficiencies aren’t holding them back.

The truth is, your software will have a direct impact on your ability to grow into a thriving business. Using Sage 200 to overcome common inefficiencies can transform your operations and enable you to run a faster, more connected business. Below we have listed some of the most common inefficiencies faced by small and medium-sized businesses, and looked into how Sage 200 can help you to overcome them.

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Strategic Planning with Sage 200

Posted by Steve Boyes on Nov 8, 2022 12:18:04 PM

Just as the world has returned to a pre-pandemic ‘normal’, soaring inflation rates and rising interest rates have caused a huge amount of uncertainty for businesses. Navigating the current economy is proving to be very difficult and even financial experts are struggling to predict what the start of 2023 has in store. That being said, you shouldn’t leave the future of your business to chance, especially in these uncertain times, and planning ahead is highly recommended.

When you’re trying to predict the future, the right software can make things much easier for you. With the help of Sage software and ProForecast, you will be able to make strategic decisions for the future of your business. Now is the perfect time to start using Sage 200 technology to your advantage and analysing past data to assist with forecasting for 2023. Below we have explored how Sage solutions can make strategic planning quick and easy, and help you to make more data-driven decisions.

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Using Technology To Your Advantage As A Next-Gen CFO

Posted by Steve Boyes on Oct 10, 2022 4:02:30 PM

 

Being responsible for all financial affairs makes a Chief Financial Officer (CFO) one of the most important employees in an organisation. In this modern day and age, the role of a CFO is continually changing and adapting too, and more so than ever before, CFOs play an integral part in the success of small and medium-sized businesses.

 Now that technology makes data more accessible, finance teams should be using this technology to their advantage. Having real-time data available at the touch of a button makes it easier for businesses to make strategic decisions for future growth and the information provided by CFOs is a key currency for businesses. Investing in new technology and embracing this modern way of working can help next-generation CFOs to drive a business forward.

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