Articles

Over one in five Finance decision-makers (23%) rated their company’s payment performance as average to awful at the beginning of 2020. The Covid-19 pandemic has forced digital transformation on lots of businesses, and the finance department should not be any different.

Small to medium-sized businesses often fall on hard times because they are suffering from poor cash flow due to late payments being received from partners and customers.

The remote working revolution, brought about by Covid-19, has been easier for some businesses than others. But, if not having the right tools and processes in place makes you the late payment villain for your suppliers and partners, then the fix is easy: automate your Accounts Payable function.

Guest contribution by Vincent Poulain D'Andecy

In this article, Vincent Poulain d’Andecy, Research Department Manager at Yooz, revisits his early days at the organisation, which had started using artificial intelligence in Accounting from the very beginning.

At Yooz, why did you decide to use artificial intelligence to automate accounting processes for companies?

Thirty years ago, Yooz’s name was Informatics and Advanced Technologies. The company was already working with the computer science engineering school in Nîmes, France, EERIE, which is now part of the well-regarded Mines d’Alès National Higher School of Engineering.

If you’ve been to an event or read any article about finance or P2P recently, you’ll be familiar with digital transformation. In fact, the term is used so often, it's in danger of becoming meaningless. Used as a short hand for “what you’re doing now is probably wrong,” it’s assumed that everyone is on board with what transformation means and how to go about doing it.

By Anders Liu-Lindberg, The Business Partnering Institute

It is 10 AM Monday morning and agile teams within a financial services company are about to start their fortnightly sprint planning meetings. Preparing for the meeting, the product owner of one agile team spent an hour with his finance business partner. The business partner had reviewed the sprint backlog and made a financial assessment of each of the items in the backlog. 

They discussed the pro’s and con’s of each item considering the benefits for the customer into the discussion. In preparation for the meeting, the business partner had assessed how each item could positively impact the customer experience and brand reputation of the company. Utilizing this input, they jointly did a holistic scoring of each item considering both financial and non-financial metrics and prioritized what items should go into the next sprint.