As multinational companies strive to compete in an ever-changing environment, chief financial officers (CFOs) are playing an increasingly important role. They are expected to reduce costs, provide more insights to the business, and drive profitable growth—all while continuing to manage risk.
But many CFOs have maxed out their savings from labor arbitrage due to overseas wage inflation, and they are wondering what is next in cost management. They also need to continue optimizing processes to find savings. So where do they go from here?
The answer is digital labor.
From software robots to sophisticated cognitive systems, advances in automation are changing the game, reducing costs by up to 75 percent in some financial processes, while improving speed, accuracy, and control.