#USA #Boston #Continuous Planning #Finance AI Agents #Board Software

Board Introduces AI Agents for Office of Finance

In a groundbreaking announcement at the Board Beyond event in London, Board, an industry leader in AI continuous planning, has unveiled its latest advancements in business planning solutions — the Office of Finance Agents. These innovations aim to transform the traditional finance function from merely reporting past performance into a dynamic driver of strategic growth for organizations.

Elevating the Role of Finance

The introduction of the Financial Planning and Analysis (FPA) Agent and the Controller Agent is a significant step towards redefining the finance landscape. By minimizing time-consuming manual tasks, these agents enable finance professionals to concentrate on value-added analysis and strategic decision-making. The FPA Agent simplifies crucial tasks such as multi-statement modeling, variance analysis, and revenue planning, while the Controller Agent enhances processes related to financial closings, consolidations, and reporting. Collectively, these features promise to instill confidence in financial data, expediting the decision-making process across organizations.

According to Chris Xu, Chief Accounting Officer APAC at Ammega, the FPA Agent has provided him with innovative insights that diverge from conventional thinking, highlighting the tools' transformative potential.

Microsoft 365 Integration for Streamlined Workflows

Board understands the integral role Excel plays in finance operations, and thus, they have amplified their integration with Microsoft 365. This allows users to operate within familiar Excel environments while remaining synchronized with Board’s governed data and business logic. The enhanced features, known as the Board Flex Grid, provide a streamlined and interactive experience, enabling finance teams to utilize their existing spreadsheet skills while maintaining the integrity of enterprise data.

Will Deer, Manager of FPA at EBSCO Industries, emphasized the value of this integration, explaining how it enables swift access to reliable data for analysis, subsequently accelerating reporting and reducing reliance on centralized teams.

Unified Forecasting to Combat Market Volatility

In today’s fluctuating market landscape, where 65-70% of businesses grapple with conflicting demand signals, accurate forecasting is more crucial than ever. Board positions itself as a leader by offering a unified platform that integrates financial and operational planning with robust forecasting capabilities aimed at improving accuracy by up to 50%. This is achieved by combining internal metrics with over five million external economic signals, providing organizations the foresight needed to navigate market changes and align financial plans accordingly.

David Marmer, Chief Product Officer at Board asserts that modern planning must rapidly adapt to emerging demand signals and that their latest solutions are engineered to incorporate AI directly into established models rather than layering additional complexity.

Future Developments in AI Agents

The rollout of the FPA and Controller Agents marks just the beginning of Board's ambition to broaden its portfolio of specialized AI agents. Future innovations include the Merchandiser Agent, designed to link demand and inventory insights to enhance decision-making processes, and the Supply Chain Agent, which will offer predictive analytics to preempt disruptions while fostering effective scenario analyses. This continued focus on agentic planning is set to bolster Board's already robust capabilities, streamlining operations across finance and enhancing value creation.

To see how these innovations function, explore Board Agents at board.com/ai.

About Board:
Board is pioneering enterprise planning through a fully integrated environment that combines Analytical and Generative AI with specialized persona-based agents to foster continuous planning, precise forecasting, and empowered decision-making. By linking internal data with authoritative economic intelligence, Board enables organizations to strategically navigate market complexities. Esteemed global brands such as HM, BASF, Burberry, Toyota, Coca-Cola, and HSBC rely on Board to confidently traverse the business landscape.

For more information about Board’s offerings, visit www.board.com.