Gartner Predicts Three Ways Autonomous Technologies Will Impact the FP&A and Controller Functions in Finance [Video]

Financial planning and analysis (FP&A) and controllership leaders need to have a plan to harness the ways digital acceleration is disrupting legacy processes in their functions, according to Gartner, Inc.

“We’re seeing widespread acceptance among finance leaders that technology is driving finance processes towards an autonomous state of operation,” said Matthew Mowrey, senior director analyst, research in the Gartner Finance practice. “80% of CFOs we surveyed in 2022 expected to spend more in AI in the coming two years, for example. Around two thirds of finance leaders we surveyed think their function will reach an autonomous state within six years”

To make autonomous finance a reality, in broad terms organizations need to move beyond investment priorities and rethink three aspects of their operations. They must consider: how functions can strengthen semantic models to improve data quality and transparency; how can technology expand the number of teams performing judgment-based activities versus manual activities; and how autonomous …