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Let’s delve into the biggest financial reporting trends that we expect to define the year. Artificial Intelligence The benefits of AI, such as accounting support, anomaly detection, and financialanalysis are undeniable. The future of finance is smarter, faster, and more strategicand automation is leading the charge.
Yet many businesses still rely on 20th century processes and technology to complete their financialplanning and analysis tasks. Digital disruption, globalization, and increasing regulatory complexity have created a need for agile, data-driven financialplanning.
With Jet Reports AI Assistant, you can stop wasting time searching for answers, unearth hidden gems within your data within seconds, and focus on what matters most: driving better business outcomes with insightful financialanalysis. No one else can offer you that.
By unifying data access and enabling real-time synchronization, an automated reporting tool eliminates data silos and ensures consistency for accurate financialanalysis. Look for a vendor that addresses security concerns through encrypted data transmission and adherence to compliance regulations like GDPR and Sarbanes-Oxley Act.
Leverage formulas for preparation and submission of required financial statements and reports. Customize and consolidate financial reports across properties, entities, and currencies, ensuring compliance and providing comprehensive financialanalysis and visualization tools.
By tackling these integration and transformation challenges, you’ll be feeding clean, standardized data into the AI engine, ensuring accurate and insightful financialanalysis for informed decision-making.
According to Gartner, only 1% of finance functions have adopted or plan on investing in generative AI. Generative AI Since ChatGPT was released in November of 2022, generative AI has exploded onto the global market. But finance teams are slow to adopt this technology.
By knowing that data has undergone thorough cleansing and validation processes, users are more likely to trust and rely on it for their financialanalysis and decision-making, reducing the risk of errors and misstatements in the process.
Learn More EPM solutions bring together financialplanning, performance measurement, and operational strategies into one seamless system. They empower your finance team to analyze, optimize, and predict financial performance, helping your organization achieve long-term objectives. EPM, BPM, CPM, FPM Whats the Difference?
This is by necessityby December of 2027, SAP plans to phase out SAP ECC in favor of S/4HANA. Of those who havent migrated, 42% plan to do so within the next year, while 51% plan a cloud migration within the next two years. And what other new SAP innovations can we look forward to? Here are our SAP predictions for 2025.
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