Wouter Born - Moving Beyond Automation to Strategic Value with CFOTech | Ep.024

Episode 024: In this engaging conversation, we speak with Wouter Bourn, a thought leader in the finance transformation software industry. We discussed a range of topics related to CFO tech, CFO empowerment through technology, and the emergence of AI technology. Wouter shared his insights on the automation and workflow capabilities of technology, the increase in data volumes, and how AI can be applied to create meaningful insights. He also talked about the use of AI for predictions and forecasting and for human-style communication. Listen in as we explore how AI and automation are changing the way businesses approach financial operations, and how adopting tools like Glean AI can help businesses save money on their vendor payments. We also discuss the criteria for investing in data-driven tools, operational solutions, and FP&A solutions, as well as the importance of quick time-to-value and the need for strategic value. Bourne explains the potential of AI and automation in financial operations, touching on the concept of FP&A systems and how they can provide a forward-looking view of an organization. We also delve into the human side of financial operations, discussing the potential of scenario modeling with data and how a CFO tech tool can go beyond the office of the CFO. We examine the challenges of benchmarking due to different businesses and accounting roles, and how the market is maturing to provide more transparency and optimization. Finally, we touch on the importance of tech tools for parents, such as Google Time and Google Family Link, and how they can help regulate children's use of technology. Don't miss this fascinating conversation with Wouter Born! Show Notes Where to find Wouter: - Wouter on Linkedin (URL: https://www.linkedin.com/in/wouterborn/) - Born Capital (URL: https://www.borncapital.vc/) Tools Mentioned: 1. Glean AI - A finance software that offers invoice recognition and cost-saving recommendations. (URL: https://www.glean.ai/) 2. Google Family Link - A parental control app that helps parents manage their child's device usage. (URL: https://families.google.com/familylink/) 3. ChatGPT - Generative AI technology that helps with tasks such as language processing, communication, and predictions. (URL: https://openai.com/chatgpt) 4. Zapier - A tool that connects and automates tasks between different apps. (URL: https://zapier.com/) 5. Microsoft Dynamics - A line of business management solutions including CRM and ERP software. (URL: https://dynamics.microsoft.com/) 6. Notion - An all-in-one workspace for notes, tasks, wikis, and databases. (URL: https://www.notion.so/) 7. Onplan - An FP&A solution that allows modeling within Google Sheets. (URL: https://onplan.co/) 8. Bedrock AI - A company that uses large language models to scan financial filings and identify red flags. (URL: https://www.bedrock-ai.com/) 9. Noteable - A data visualisation and statistical analsysis tool that can be integrated with ChatGPT. (URL: https://noteable.io/) Chapters (0:00:00) - AI in Finance Transformation (0:09:34) - Adopting AI Tools in Business (0:20:06) - Strategic Investing in Impactful Solutions (0:34:33) - Future Financial Reporting and FNA Systems (0:40:42) - Human Skills in Decision Making (0:55:16) - Google Family Link and Android Time 📧: Sign up for The Tech for Finance Newsletter here 📺: Subscribe on YouTube here