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How EY can help
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Through enhanced corporate reporting, EY can support finance teams to meet demands for high-quality enhanced financial and nonfinancial information.
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Recommendations
To seize the three transformational opportunities, controllers should:
- Build on their data-stewardship role by further developing their analytical expertise, collaborating with other functions to extract new insights from data, and helping to shape data strategy and governance to be scalable as volumes and sources of data continue to grow.
- Understand how both automation and AI systems can be used to reinvent the processes of finance and other functions within the organization. For example, basic finance processes, such as budgeting and forecasting, lend themselves to automation. Controllers should also consider the cost of AI and potential return on investment as part of evaluating the right tools for the right job.
- Explore opportunities to free up their capacity – potentially through automation – so they can become more involved with the production of sustainability information. This involvement could include identifying relevant datasets and metrics for reporting and improving the associated controls and processes.