For organizations embracing finance automation, the guiding principle is simple: “Start
Small, Scale Fast.” This approach ensures incremental, manageable changes, allowing
finance teams to adapt effectively and achieve quick wins.When assessing the scope of automation and available solutions, CFOs are focusing on several key factors:

At Consark, we have focused on creating a customizable transaction matching routine that enables users to establish reconciling rules personalized to their specific accounting practices. This adaptability is crucial, especially in the complex process of inter-company reconciliation, which becomes even more challenging when preparing consolidated financial statements under Generally Accepted Accounting Principles (GAAP).

A recent Gartner survey with CFOs revealed that the top priority for 2024 is “Leading transformation efforts.” This finding is particularly insightful when considering how tools and technology can significantly enable CFOs and finance teams to accelerate this transformation.

Gen AI is an exciting opportunity for companies to explore especially in the world of finance and accounts. From automating routine tasks to providing deep analytical capabilities, Gen AI is poised to revolutionize how organizations manage their financial operations.

Variance analysis is more than a process to report facts. Finance teams leverage this tool to communicate a clear story to stakeholders. Large enterprises often face complex reporting structures, making variance analysis vital for insightful decision-making.