Leveraging GenAI in Business Process Services for Finance and Accounting

This IDC Perspective explores the integration of GenAI in finance and accounting business process services, highlighting its transformative role in streamlining operations, enhancing data analysis, and improving decision-making. GenAI is increasingly adopted for automating routine tasks, enabling predictive analytics, and addressing FP&A challenges like data timeliness and quality. Despite limitations such as regulatory risks and high costs, GenAI offers significant productivity gains and strategic insights, making it a crucial tool for navigating macroeconomic uncertainties and driving enterprise growth."GenAI transforms enterprise finance operations and related business process services by delivering accuracy, quality, and efficiency to many typically routine activities. It makes the organization smarter and provides business intelligence for strategic planning and growth." - Raymond Pucci, research director, Intelligent Finance and Customer Care Business Process Services, IDC