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AI Takes Over Routine Tasks – How CFOs Can Save Time and Money

Updated: February 28, 2025, 10:06 AM Published: February 18, 2025, 10:00 AM

AI is increasingly becoming a part of everyday life in finance departments across the country. By allowing the technology to handle routine tasks in invoice management, finance teams can focus on more important things: analysis, forecasts, and strategic decisions.

Many CFOs recognize the challenge: invoices circulating in the organization without being properly accounted for, manual corrections that take time, and a constant worry about late payments.

“Many finance departments have effective systems in place, but the actual handling of invoices lags behind. Accounting, approving, and checking for discrepancies takes an unreasonable amount of time – especially when volumes are high and invoices cannot be PO-matched. This is where AI can really make a difference,” says Kristian Gylling, CFO at Rillion.

Instead of manually determining accounts, cost centers, and VAT rates, AI learns from previous patterns and suggests postings automatically.

“Our own data shows that AI provides up to 90 percent more accurate posting suggestions. Instead of the finance department spending time double-checking and correcting errors, the process becomes self-propelled,” says Kristian.

Less Administration – More Time for Analysis

How much manual work can actually be replaced by AI? A lot, shows the development in companies that already use the technology. AI can:

  • Learn from previous accounting and suggest postings automatically.
  • Flag suspicious discrepancies before invoices are sent for approval.
  • Identify potential errors in supplier invoices.
  • Improve cash flow forecasts through faster data management.

Kristian believes that the biggest gain is that the finance department can spend less time on administration and more time on analysis.

“Instead of the finance department being stuck in daily routines, they can focus on more value-creating work, such as improving liquidity or analyzing cost structures,” he says.

Better Order Before Audits and Year-End Reports

During the first months of the year, a lot of time is spent on annual reports and audits. Here, AI can be a valuable resource.

“When data is correct from the start, you avoid time-consuming corrections at the end of the period. AI can automate accruals and flag any accounting errors in real time, which means that companies are better prepared for year-end reports,” says Kristian.

A common problem is that costs end up in the wrong period, which requires manual adjustments. By analyzing historical data, AI can ensure that invoices end up in the right place immediately.

“AI acts as an extra security check that reduces the risk of accounting errors,” says Kristian.

AI is Here to Stay – The Question is How You Use It

AI has already begun to change the way we work in finance, and the development is rapid. Companies that implement automated solutions today gain a head start.

“Companies that invest in AI now not only avoid manual work – they also create a more cost-effective finance department,” concludes Kristian.

About Rillion

We have over 25 years of experience in providing systems for more efficient invoice management and peace of mind for accounts payable. To date, Rillion has supported over 3,000 companies in more than 50 countries.

Automate invoice management with Rillion

The article is produced by Brand Studio in collaboration with Rillion and is not an editorial article.



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