Finance and accounting have historically been viewed as back-office functions, things that play a supporting role to other critical departments. This has partly been due to the significant time and resources basic bookkeeping and cash flow management requires. But data science and artificial intelligence (AI) are changing that by streamlining accounting processes and arming finance teams with powerful data-derived insights. This is transforming finance and accounting departments, turning them into more strategic functions that drive decisions across the organization. At the same time, automation is helping perform routine duties, freeing up more time to focus on expanding finance and accounting’s impact.
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