SignUp Software CEO’s Insights on Applying Copilots to Financial Processes

Highlights


Creating Opportunities for the CFO (01:50)


The foundation for the CFO role is to keep customer costs under
control and be compliant. With the emergence of copilot
technology, it has created new opportunities for business; not
only impacting tech roles but finance roles as well. It has
become a great tool for making financial processes autonomous and
reaching the first three Cs faster and more efficiently. For
instance, it can make suggestions to improve workflows. Copilots
can also perform actions based on data to create purchase orders
or help with elements of ERP systems.



Strategic Decision Making (04:45)


CFOs and financial leaders can use copilots to make more
informed, strategic decisions. With processes generating a
variety of traces with transactions, CFOs can use copilots to
consolidate that data. SignUp Software provides a dashboard for
financial processes. Copilot can be applied to gain greater
financial analytics; it can identify a problem efficiently,
enabling users to find the root problem and resolve it faster.


AI-Driven Financial Management (06:25)


Financial processes can be time-consuming, such as the invoice
approvals process. “We can help the approver with the most common
ways that would be coded and just showing them with a little
light bulb,” Hedin describes. “It’s an advanced algorithm…but
it’s giving you advice on how you could do that and what has
worked in the history, and also giving you the probability that
the AI algorithm is actually right.” While there may be parts of
AI that bundle inside the processes and work behind the scenes,
copilot can be applied to specific processes to assist users.


Investing to Innovate (08:30)


SignUp Software has a full team focusing specifically on
investing in AI to further innovations. This team has built a bot
for support flows to help their customers. Users can ask the bot
questions as well as use it for action-based scenarios, such as
assistance with coding invoices and automating processes.


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