Finance leaders are under more pressure than ever. Regulatory scrutiny is rising, market volatility is unpredictable, and finance teams are being asked to do more with less. Yet, many organizations still rely on outdated manual journal entry (MJE) reviews, creating unnecessary risk, inefficiency, and compliance gaps. Traditional sampling methods fail to provide full financial oversight. … Read more
Finance and data leaders are sitting on massive amounts of financial data, yet unlocking its true value for strategic decision-making remains a challenge. Data alone doesn’t drive better decisions—intelligence does. Organizations need a way to extract meaningful, real-time insights without adding complexity to their workflows. For enterprises leveraging Databricks, financial decision intelligence just took a … Read more
The financial landscape is evolving rapidly, and CFOs are at the forefront of this transformation. AI in financial planning is no longer a futuristic concept—it’s a competitive advantage that enhances decision-making, risk management, and strategic execution. AI-powered tools enable finance professionals to analyze complex financial flows in real time, surface hidden risks, and optimize planning … Read more
Transparency and accountability are essential for businesses worldwide. While traditional audits provide these safeguards, their periodic nature often leaves gaps in risk coverage. Continuous auditing, powered by AI, offers a proactive solution, enabling real-time insights and more effective risk management. This article explores the fundamentals of continuous auditing, its use cases, benefits, challenges, and implementation … Read more
The extraordinarily rapid advancement of machine learning in this decade is putting enormous pressure on enterprises of all kinds to incorporate AI into the applications that drive their operating models. The gains in productivity are almost certain to be game-changing, but it is early days, and that is putting risk management in the spotlight as … Read more
Donald Trump’s inauguration as the 47th president of the United States marks a significant transition in leadership. These transitions often mark fresh opportunities and evolving priorities for enterprises. For CFOs, the challenge lies in aligning their financial strategies with evolving global, domestic, and corporate visions while ensuring their organizations remain agile, resilient, and future-ready. In … Read more
Artificial intelligence (AI) is revolutionizing financial processes, risk management, and internal audits by enabling data-driven decision-making and fostering collaboration across the three lines of defense—management, internal audit, and external auditors. At the MindBridge Conference 2024, industry leaders like Ryan Mitchell (Chevron), Chris Swanson (Polaris), and Mark Stone (Sealed Air), alongside moderator Michelle Alexander, shared how … Read more
When thinking of financial auditing, many see it as a difficult process with a lot of sensitive data and potential issues along the way. There’s no shortage of technologies meant to help auditors, yet the process doesn’t always feel easy. Anomalies in data, inaccuracies, and even subtle fraud attempts are all things traditional audit methods … Read more
Anomaly detection in financial data involves identifying unusual patterns or behaviors that deviate from expected norms. It is essential for detecting potential risks, such as fraud, policy violations, or inefficiencies, enabling organizations to take proactive measures to safeguard their operations. However, identifying financial anomalies is no simple task. These irregularities can be deeply embedded within … Read more
Financial professionals are inundated with vast amounts of data, making it increasingly difficult for teams to sift through information and identify areas of concern. Our users want a solution that doesn’t just show them the data, they want to be told exactly where risks are lurking and how to act on them. Traditional methods, even … Read more
Operational risk poses a significant challenge for organizations, threatening financial stability and reputations alike when internal processes, systems, or external events fail. For all organizations, operational risk management is essential to protect against costly disruptions. Risk identification, assessment, mitigation, and monitoring are the pillars of operational risk management. Many methods are used to conduct these … Read more
AI is not just another tool for finance—it’s the key to unlocking your team’s full strategic potential. As businesses accelerate their AI adoption, finance leaders must prepare to surf the wave or risk sinking. At The MindBridge Conference 2024, Tom Hood, Executive Vice President of Business Engagement & Growth for AICPA & CIMA, delivered a … Read more
