PwC India, a top-notch professional services firm, has launched a range of innovative products tailored for chief financial officers (CFOs) integrating GenAI technology. This cutting-edge addition is set to revolutionize the way CFOs handle data, offering streamlined processes and enhanced decision-making capabilities.
The GenAI-powered suite boasts several advantages for CFOs:
Simplification of complex financial tasks by efficiently processing large volumes of data.
Quicker response times to stakeholders, ensuring enhanced communication.
Reduced process risks through accurate transaction identification and validation.
This suite, already adopted by 700 clients across 16 countries, caters to various finance-related needs such as operational finance, tax management, compliance, controls effectiveness, and contract management.
Here’s a glimpse into some key offerings:
Integrated Accounts Payable Engine: A comprehensive solution facilitating touchless and paperless invoice processing, complete with built-in tax compliance features. It employs AI-based invoice reading and workflow capabilities, alongside a supplier portal with a plethora of features.
Compliance Insights: Designed to centralize enterprise-wide compliances, this product maintains an updated compliance register and utilizes GenAI for generating responses to complex compliance documents.
Anomaly Detection Platform: An award-winning tool aiding CFOs in automating reconciliations and cash applications through unsupervised machine learning. It features GenAI-powered algorithms for efficient anomaly detection and translation into simple language.
Contract Insights: Offering a digitized contract lifecycle management platform, this solution accelerates deal closure by integrating with CRM and ERP systems. GenAI helps in risk analysis and identifying potential exposures.
Business Risk Analytics and Insights Platform: With over 800 algorithms, this platform provides comprehensive monitoring of ERP transactions, giving controllers and auditors actionable insights.
Navigate Tax Suite: Addressing challenges posed by tax compliances and regulations, this suite offers solutions for GST, income tax, and transfer pricing. GenAI integration assists in rate identification, code validation, tax research, and litigation preparation. The Benefits for CFOs:
As CFOs face increasing pressure to focus on value creation, these tools come as a relief by automating validation processes and risk identification, thus boosting productivity and quality.
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