How is AI transforming finance and the role of a CFO?
Percipient’s Kody Devlin looks at the potential of AI to further transform finance and the role of the CFO,
and looks at the importance of use cases, trust and confidence in driving wider adoption.
AI: The Fabric of Modern Finance
As Sage CTO Aaron Harris outlined at Sage Transform last year, AI is a key part of the fabric that weaves the future Office of the CFO (OCFO). Sage’s vision is a finance operation which manifests digital as a prerequisite, is intelligently automated, and leverages AI to drive value and enhance strategy.
In his keynotes, he spoke about the importance of integrity, accuracy, security and trust in driving confidence and adoption. And as we see both use cases and questions emerge, it’s clear that we’re in the throes of moving from the hype phase seen in 2024, to a more stabilised, real-world phase of Gartner’s GenAI hype cycle in 2025.
While McKinsey reports that 65% of businesses are already using AI tools to reduce costs, improve reliability and governance, reports from RAND Corporation state that 80% of AI projects fail, highlighting the importance of getting it right rather than being caught up in the hype.
Hyper Automation & Intelligence
Much of the work coming out of Sage’s lab in the AI space is focused on hyper-automation, leveraging AI to learn about and continuously refine processes in the same way the human brain works. And in the context of finance, combined with rigour, integrity, security and accuracy, this is incredibly powerful.
We’re already seeing a seismic shift in the role of finance, with CFOs making an unprecedented transition from record keepers and number crunchers to intelligence gatherers and value creators, with modern finance systems such as Sage Intacct driving the kind of automation and intelligence to truly facilitate this shift.
I talk to CFOs and finance professionals every week who remark on Sage Intacct’s ability to elevate their role and enable them to provide far greater value both to the finance function and the wider business. Because it takes seconds to access intelligent insights on any area of finances, time can be spent making decisions and designing actionable strategic plans, which drive performance and competitive advantage.
Next Level Speed, Accuracy & Insights
AI’s role in the fabric, as it were, is to take this capability to the next level, bringing next-level speed, accuracy and insights in a completely intuitive way.
In my view, the ability of AI to take patterns and learn from precise process flows and tasks in a finite area, such as finance, will consolidate its potential. Being allowed to learn specific patterns, behaviours, and nuances from across, say, AP, credit management, and procurement, will bring rigour, diligence, and speed —the value of which we know drives better decisions and performance.
Beyond the Hype
As the cycle points to, the next 12-24 months will be pivotal in seeing the hype play out, and AI use cases will come to the forefront. We’ll likely see a more measured and steady approach to adoption as early mistakes are rectified, the areas with the most potential are capitalised on, and value is delivered in a more pragmatic and metric-led way.
Embracing Continual Transformation
The team here at Percipient is excited to build on the momentum we’ve created with Sage Intacct, helping our customers unlock the potential of world-class AI capabilities to complement their existing ones and drive further transformation of the Office of the CFO.
Representing the next iteration and generation of digital transformation, AI is bringing genuinely exciting opportunities for automation and innovation, elevating the way people can perform their roles. As the quote goes, AI will not replace people, but people with AI will undoubtedly replace those without it.
Award-Winning Sage Intacct Specialists
To learn how we can support your AI journey with Sage Intacct, get in touch today or call our team on 01606 871332.
