The DELOTETE Monitoring Center and the Institute of Administrative Accountants (IMA) have reported that financing and accounting specialists are increasingly used artificial intelligence, machine learning and advanced analyzes to increase business performance.
According to the survey, entitled entitled Opening profitability visions: How companies benefit from data to enhance business performanceThe development was despite the continued dominance of traditional cost accounting methods and profit management.
The poll, which included more than 440 financing and accounting managers, managers, console, and financial managers, found that data schedules remain the most used tool for performance modeling.
Nearly 30 % of those answering them were adopted compared to only 3 % using artificial intelligence analyzes and 1 % Blockchain employment.
Nevertheless, many professionals expect major changes, as 19 % of emerging technologies expect to automate tasks and routine operations.
Meanwhile, 18 % expected the use of data analysis in actual time and its reports and another 18 % predict the transformation of historical analyzes to predictive models.
More than half of the respondents (53 %) said that their organizations have either merged (24 %) or planned to integrate (29 %) techniques such as AI or Blocchain or advanced data analyzes into cost management and profit models.
The survey also explored the use of cost analyzes, which reveals that only 38 % of the institutions use this approach to assess work goals or adapt strategies to increase profits.
In addition, 54 % of the respondents indicated the lack of available reports or the need to enhance the cost of cost and profitability to report within their organizations.
The complex and different systems were cited as the primary obstacle to obtaining a 15 % meaning of the respondents, followed by 14 % of the problems of data availability due to the bonding between jobs, operating units and departments.
Nearly 12 % said that the decrease in the data collection was the benefit of adopting the emerging technologies, which were reported by the professionals.
While 11 % said it may increase efficiency in preparing reports and preparing the analysis, 10 % indicated that this step will improve accuracy in cost estimates.
“The methods of traditional business performance management are not responding or accurate as the latest tools in data generation and visions of cost drivers, which are important in the fast and dynamic operating environment today,” said Deloitte & Touche Controllist Colleen Whitmore.
“In this way, many controllers and financial managers realize that the shift in cost management and profit management methods is necessary to pay the best operating performance and make the best strategic decision.”
