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Finance Leaders Face Rising Pressure to Integrate AI Solutions and Deliver Results

In the fast-paced world of finance, the pressure to adopt artificial intelligence (AI) technologies is intensifying. A recent survey conducted by Basware revealed that nearly half of Chief Financial Officers (CFOs) feel a growing demand from their management teams to embrace AI initiatives within their operations. As stakeholders voice their concerns regarding the slow pace of AI integration, CFOs are grappling with how to translate this pressure into tangible results.

The report, titled "AI to ROI: Unlocking Value with AI Agents," gathered insights from a global survey of finance leaders across the United States, United Kingdom, France, and Germany. Key findings showed that 61% of finance leaders are utilizing custom-developed AI agents, primarily as a way to experiment with the technology’s capabilities. However, 25% of respondents admitted that they do not fully understand what successful AI implementation looks like.

The Growing Hype Around Agentic AI

The concept of agentic AI has become a hot topic within financial circles, but many professionals believe that the hype might outweigh the reality. According to the survey, 66% of respondents noted that there is excessive buzz surrounding the potential of agentic AI. Moreover, with C-suite executives demanding measurable results, the urgency for successful implementation has reached a tipping point. "We're seeing a shift where boards and CEOs are losing patience with mere experimentation and want to see concrete outcomes," stated Jason Kurtz, CEO of Basware.

Despite the challenges, the opportunity for finance departments to reap the benefits of agentic AI is palpable. The survey indicated that organizations employing third-party AI solutions are experiencing an impressive average return on investment (ROI) of 80%, a marked improvement compared to the general AI ROI, which rose from 35% to 67% in the last year.

Identifying Areas for Improvement

CFOs looking to harness the power of agentic AI should focus on areas with immediate impact potential. The Basware survey indicated that 72% of respondents view accounts payable (AP) as the prime area for AI integration, given its traditionally manual and data-heavy nature. By automating AP processes, finance teams can streamline operations, enhance compliance, and discover significant cost efficiencies.

Alongside AP, areas identified for agentic AI deployment include:

• - Automating invoice capture and data entry (30%)
• - Improving cash flow management (24%)
• - Enhancing scenario modeling and forecasting (23%)
• - Reducing operating costs (21%)
• - Performing real-time risk and market analysis (20%)
• - Streamlining financial reporting and reconciliations (20%)
• - Detecting duplicate invoices or potential fraud (19%)

These findings underscore the notion that finance teams can yield quick wins by leveraging AI, particularly in high-volume processes.

Build vs. Buy: A Strategic Perspective

Organizations must also grapple with the decision between building in-house solutions or purchasing third-party offerings. Those leveraging platforms like Basware's Invoice Lifecycle Management, designed specifically for AI integration, can deliver results more seamlessly and cost-effectively than trying to piece together disparate solutions.

An example is Basware’s InvoiceAI, a solution that utilizes generative and agentic AI, alongside natural language processing. This innovative tool not only automates invoice processing but also provides significant enhancements in speed, accuracy, and compliance, illustrating how AI can fundamentally change finance operations.

From Hype to Reality

For AI initiatives to move from mere speculative ventures to genuine drivers of transformation, organizations must develop clear strategies and governance frameworks. The survey highlighted a concerning trend: finance teams obtaining the weakest returns from AI often act without structured strategies and direction. In stark contrast, 71% of teams that reported strong ROI had strategic oversight to guide their actions.

"The data confirms our belief that deploying AI without a clear purpose results in wasted resources," Kurtz added. "Only when agentic AI is embedded directly into finance workflows, based on trusted data, can businesses achieve truly impactful outcomes. This is what we strive to deliver at Basware."

As the era of AI-driven finance emerges, the call for companies to optimize their operations using these technologies grows ever louder. For finance leaders, striking the right balance between experimentation and effective implementation will be paramount to success in the AI landscape.