#FinanceMaster
Navigating transformation in the modern finance function
Jan 24, 2024
Marco Torrente, Global CFO of WebBed, discusses the transformative impacts of digital finance. They explore the role of AI, machine learning, and establishing a strong setup for transformation. They also highlight the importance of digital transformation during the COVID crisis and the need for finance teams to become strategic business partners.
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Quick takeaways
- Digital transformation and automation provide a strong foundation for utilizing artificial intelligence and machine learning in finance forecasting and analysis.
- Technology, such as machine learning and robotic process automation, can improve efficiency in finance processes, but it is important to assess and customize these tools to meet the specific needs of each company while upskilling the finance team for optimal results.
Deep dives
Digital Finance and AI in the Finance Function
In this podcast episode, Marco Torente, CFO of WebBets, discusses the impact of digital finance and AI on the finance function. He highlights the challenges faced by a digital-first company and the importance of a strong foundation. Marco emphasizes the need for digital transformation and automation, specifically mentioning the implementation of an ERP system across different entities. He explains how this foundation enables the use of artificial intelligence, such as machine learning, for better forecasting and analysis. Marco believes that finance 4.0 is about shifting the focus from transactional tasks to value-added activities and becoming a strategic business partner.
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