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AI Helps Accenture Realize Dramatic Difference In Quarterly Reporting

Dec 10, 2023 - forbes.com
The article discusses the importance of digital transformation in the professional services sector, with a focus on Accenture's use of AI to improve efficiency. Accenture has implemented SAP Cash Application software, which uses machine learning to automate the cash application process, reducing manual entries and increasing accuracy. This has resulted in a significant increase in the automatic rate of cash processing and improved pre-close reporting.

The use of AI has also allowed Accenture to redirect resources to more valuable activities, improving overall business efficiency. The company's successful management of its own digital transformation challenges enhances its credibility and expertise in helping its customers navigate their digital journeys.

Key takeaways:

  • Digital transformation in professional services is essential, with global spending on digital transformation predicted to reach $3.4 trillion by 2026.
  • Emerging technologies such as RPA, chatbots, and artificial intelligence are causing unprecedented change in the professional services sector.
  • Accenture has improved its cash application process by introducing SAP Cash Application software, a machine learning–enabled matching model, which has increased efficiency and accuracy.
  • The use of AI has also improved the pre-close reporting process, generating 90% of the commentary and providing early alerts to financial leadership, thus enabling more informed and timely decision-making.
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