The Role of Presales Consulting in Data Storytelling — Adnan Karabay // Workday

Quotes

• “Categorizing expenses is crucial for providing transparency and accountability to stakeholders. By categorizing expenses, organizations can effectively track and report their spending, allowing them to demonstrate responsible financial management. The business stakeholders need to understand where their money is going and get clear insights into the financial activities.”

• “Machine learning and AI technologies give tremendous advantages to automate and streamline the categorization process. By utilizing AI, organizations can improve accuracy and efficiency, reducing the need for manual verification and minimizing errors. AI-driven tools can save time and effort for finance and procurement teams, allowing them to focus on more strategic tasks and decision-making.”

• “By leveraging OCR technology and analyzing invoice data, AI can learn and predict the type of expense being entered into the system. This automation reduces manual effort, eliminates human errors, and improves accuracy over time. It demonstrates how AI technology can streamline processes and save time for finance and procurement teams.”

• “Cloud-based solutions provide huge benefits for real-time data access. In traditional on-premise systems, closing the books at the end of the month can be a time-consuming process involving multiple data downloads and batch processing. However, with a cloud application, the availability of real-time data allows for immediate month-end closing, reducing the time and effort required. The efficiency and convenience provided by cloud-based solutions in financial operations cannot be overlooked.”