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Structuring tax heads in the Chart of Accounts (COA)
Find out interesting insights with John Silverstein, VP of FP&A, XR Extreme Reach Moderated by Sherry, Financial Technology Consultant at Hyperbots Don’t want to watch a video? Read the interview transcript below. Sherry: Hello, and welcome to all our viewers on CFO Insight. I am Sherry, a financial technology consultant at Hyperbots, and I’m very…
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AI assistance for compliance
Find out interesting insights with Mike Vaishnav, CFO & Strategic Advisor Moderated by Moderated by Niyati Chhaya, Co-founder at Hyperbots Don’t want to watch a video? Read the interview transcript below. Niyati Chhaya: Hi everyone, good morning, good evening, and good afternoon. This is Niyati Chhaya. I am a co-founder and I lead AI at…
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Empowering CFOs to enhance auditability in the age of AI
The integration of Artificial Intelligence (AI) into finance and accounting (F&A) would be transformative, revolutionizing how tasks such as accounts payable, invoice processing, automated accruals, account receivables, collections, employee expense management, financial planning and analysis (FP&A), taxation, and investments are conducted. This technology-driven shift towards deep and intelligent automation will significantly improve efficiency, accuracy, and…
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The sales tax verification: embracing AI for accuracy and efficiency
1. Current verification process of sales taxes in vendor invoices In the traditional approach, accountants manually review invoices from vendors to verify the accuracy of sales taxes charged. This involves checking the item-wise price, quantity, and sales tax against the shipping-to and from addresses postal codes. Accountants must understand the taxability of products, applicable tax…
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Evaluating bot security in financial process automation
Financial process automation is the use of artificial intelligence (AI) to perform various tasks that would otherwise require human intervention, such as data entry, invoice processing, reconciliation, reporting and more. By automating these tasks, businesses can save time, reduce errors, improve efficiency and enhance customer satisfaction. However, automation also comes with its own set of…
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Fortifying financial data: a CFO’s guide to safeguarding in the AI era
In the rapidly advancing landscape of finance, the integration of Artificial Intelligence (AI) has ushered in unprecedented efficiencies and insights. As Chief Financial Officers (CFOs), your role not only involves steering financial strategy but also safeguarding the invaluable asset that is financial data. In the age of AI, where data is both currency and vulnerability,…