How boards can implement AI into finance strategy

Saturday, 01 February 2025

    Current

    To build a meaningful AI strategy, companies need a clear roadmap that aligns AI with both immediate needs and long-term business goals. 


    Presented by Annexa

    A company’s finance strategy is an ideal starting point for AI adoption. By actively supporting AI-driven transformations, leaders can ensure these innovations align with broader business goals, fostering a culture of data-driven, strategic growth.

    For example, leadership can encourage a forward-looking approach where AI enables strategic foresight rather than just historical analysis. Or by advocating for ongoing upskilling within finance and ensuring teams can leverage AI’s full potential, leaders can shape a culture built to maximise the transformative power of AI. 

    Engaging with partners who know the AI landscape and understand how it can be used to benefit the finance team's operations can unlock untapped avenues for growth, greater efficiencies and potentially reduce the risks involved. 

    When organisations position finance as an AI leader, they can inspire other departments to adopt similar high-impact applications responsibly and with accountability. Once finance demonstrates AI initiatives with clear, quantifiable results, demonstrating AI’s tangible value in areas like efficiency gains and cost reductions, it can be easier to communicate and adopt across other areas of the organisation.  

    By choosing AI solutions that address finance’s needs today, businesses can scale for future cross-functional use, ensuring AI aligns across departments, enabling collaborative, data-driven decisions.  

    Leading from the top, boards can encourage AI as a collaborative tool, while advocating for transparent AI practices, especially in sensitive areas, to build trust and acceptance organisation-wide.  

    They can also derisk the use of AI in the company, by prioritising security and compliance. Boards can ensure finance and IT collaborate to select AI tools that protect data and meet regulatory standards. 

    To align with business strategy, the board and management can collaborate with finance to determine if enhancing current tools or adopting new AI platforms provides greater strategic value.  

    With a focus on quantifiable outcomes and an emphasis on results including efficiency gains or cost savings to showcase AI’s organisational value, the board can reinforce AI’s role in achieving goals. Once the results are clear, the board can assess the opportunity of positioning AI as a key player in reaching the company’s strategic objectives, ensuring alignment with broader ambitions.  

    Annexa is a trusted NetSuite and system integration partner for ANZ companies with deep expertise in product customisation, integrations, and AI-driven solutions tailored for the finance function. The focus is on supporting the full lifecycle of a client's digital transformation journey. 

    Annexa’s Building an AI in finance strategy — A business leader’s guide to unlocking AI’s potential in finance e-book is available to help boards understand the opportunities and practices available to them. 

    Speak to an Annexa expert and explore how to build a future-focused, AI-powered finance strategy that’s rooted in a robust, connected ERP ecosystem. 

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