AI use cases for finance
Speed up reporting, accounting analysis and tax research with specialist AI assistants.
Internal assistant for expense claims
Employees spend a long time looking for reimbursement and travel expense rules in scattered internal documents. The same questions come back week after week and tie up the accounting team, while slow answers hold up the processing of claims.
Tax and accounting research assistant
Complex tax and accounting questions mean long searches through technical documentation or routine referrals to an outside firm. The cost and delay of those consultations weigh on the finance function's responsiveness, even for first-level questions.
Automated financial reporting
Producing periodic financial reports (monthly dashboards, management reporting, summaries for the executive committee) keeps controllers busy aggregating and formatting rather than analysing. APQC benchmarks put the median time to produce monthly consolidated statements at 6 calendar days, and more than 10 days for the bottom quartile.
Automated supplier invoice processing
Processing a supplier invoice by hand costs between €12 and €16 all in, across data entry, account coding, matching with the purchase order and chasing approvals. Industry benchmarks put automated processing below €3. As volumes grow, repetitive data entry occupies accounting teams who would be better placed handling exceptions.
Automated bank reconciliation
Reconciling bank statements with accounting entries takes several hours per account each month, and more again at high volumes. AICPA estimates put the error rate of manual processing at between 1 and 8% of transactions, and unresolved differences delay the close.
Automated financial statement analysis
Analysing balance sheets, income statements and notes to extract key indicators and spot anomalies remains largely manual. Controllers spend their time collecting and calculating, at the expense of the interpretation and recommendations that give their work its value.
Financial analyst report summaries
Finance teams receive a growing volume of analyst reports, economic notes and market studies. Available reading time falls short of the incoming flow, even though a single report can carry the information that shapes a decision.
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