Recognize this? Your team spends valuable time manually analyzing contracts, calculating cash flow scenarios and preparing accurate reports. While you as CFO know: that time is much better spent on strategic work. AI offers increasing opportunities to address this challenge intelligently. But how do you translate that promise into concrete benefits for your finance department? In this blog, Erry de Boer, CEO of Eqeep, shares his vision of the impact of AI within finance – now and in the future.

Data-accuracy: the foundation of your financial control

Without reliable data, no reliable analytics – that is my firm belief. There are countless AI tools that can transform your financial analyses. But without a solid foundation you are nowhere, we wrote a blog about that five years ago. Only if your data is solid and clean can you use AI to automate process flows. But then the system can also think with you about solutions to your challenges. A solid data infrastructure is the foundation for any successful AI implementation.

In the real world: This is how AI tackles your cash flow challenges

Let me give an example. Every seasonal business knows the following problem: You need more working capital in some periods than in others. Traditionally, this means hours of puzzling with payment terms and cash flow forecasts. Where your finance team normally spends days analyzing contracts, AI does it in seconds. Say you pay all your suppliers within 35 days by default, but the system sees that you have contractual payment terms of 45 or even 60 days with certain suppliers. By using these longer payment terms intelligently, you can free up extra working capital precisely during peak seasons, exactly when you need it most.

AI immediately signals where liquidity dips are imminent and links this to concrete solutions. The system makes proactive suggestions: with which suppliers can you extend the payment period? How much working capital will that provide? No more hours of analyzing reports. No more manually calculating scenarios. The system immediately calculates the impact on your cash flow. AI transforms boring, time-consuming analyses into strategic insights that add value immediately.

Why not automate boring tasks?

The figuring out, the thinking through – there’s no need for that anymore. AI takes over these kinds of repetitive tasks. This not only speeds up your processes, but also simplifies collaboration within your team. This leaves you time for what really counts: strategic decisions. The automation of standard processes also ensures fewer errors and a more consistent way of working within your department. No more endless digging in the figures, but working on the course of your company.

Finance as the foundation of your organization

Finance is everything. You can turn millions in profits, but if your cash flow is not in order, you can still fly under. Good insights and supporting systems are therefore indispensable. This emphasizes the importance of accurate, real-time financial data. AI-driven systems not only give you insight into your current position, but also help you proactively identify and resolve potential bottlenecks.

Set the foundation for a smarter approach

Start with the foundation: make sure your data is in place. Only then can AI really add value to your finance department. But the added value of AI does not stop with finance, of course. Other departments such as operations and sales can also benefit from it. I will talk more about this in later blogs.

Erry

Want to know more?

Did these insights get you thinking? At Eqeep, we help organizations work smarter. Contact us for a free consultation or request a demo to see how we can help you optimize your processes.

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