1、IBM Institute for Business Value|Benchmark InsightsModernize record-to-reportHow AI and automation are changing the game2From improving the efficiency of finance processes to creating smart functions with intelligent workflows,we help transform finance organizations.Intelligent workflows,with capabi
2、lities of finding,connecting,and analyzing data,can uncover deep insights to strengthen decision-making.Our financial consultants partner with clients to advise and manage end-to-end processes.To learn more,please visit IBM can help1For organizations processing more than 1.5 million journal entries
3、annually,the implementation of AI is the top predictor of monthly close cycle time.For organizations processing fewer journal entries,the top predictor of cycle time is the maturity of information availability,suggesting struggles with data complexity.Organizations that have optimized robotic proces
4、s automation in general accounting have a 25%faster cycle time for the monthly close.They also experience a 38%lower cost per journal entry than peers who have lower levels of automation.Organizations infusing AI into record-to-report generate 66%faster cycle time to process journal entries.However,
5、only 19%of organizations report rolling out or fully implementing AI.Fewer than 10%of activities are dedicated to analysis and actionareas crucial to supporting improved business decisions.1Key takeaways23IntroductionSucceeding in economic uncertainty doesnt happen on its own.It requires purposeful
6、agility,rapid innovation,and the right kinds of platforms and ecosystems.How to capitalize on these opportunities and lead decision-making?Look to finance as your key function.Yet,nearly half of finances time is still spent on transactional activities.In fact,fewer than 10%of activities are dedicate