Financial planning and analysis
Capital
planning
Control and internal audit
Expertise
Source: Bain & Company
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Treasury
Tax
Accounting/
transaction processing
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Financial planning and analysis
Capital planning
Control and internal audit
Expertise
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Treasury
Tax
Accounting/
transaction processing
Back
Financial planning and analysis
Capital planning
Control and internal audit
Expertise
Treasury
Tax
Accounting/
transaction processing
Hover over a process to see details
Back
Financial planning and analysis
Capital planning
Control and internal audit
Expertise
Treasury
Tax
Accounting/
transaction processing
Hover over a process to see details
Back
Financial planning and analysis
Capital planning
Control and internal audit
Expertise
Treasury
Tax
Accounting/
transaction processing
Hover over a process to see details
Back
Financial planning and analysis
Capital planning
Control and internal audit
Expertise
Treasury
Tax
Accounting/
transaction processing
Hover over a process to see details
Back
Financial planning and analysis
Capital planning
Control and internal audit
Expertise
Treasury
Tax
Accounting/
transaction processing
Hover over a process to see details
Back
Financial planning and analysis
Capital planning
Control and internal audit
Expertise
Treasury
Tax
Accounting/
transaction processing
Hover over a process to see details
Generative AI potential | FINANCE
High
Moderate
Low
Generative AI potential | FINANCE
Generative AI potential | FINANCE
Generative AI potential | FINANCE
Generative AI potential | FINANCE
Generative AI potential | FINANCE
Generative AI potential | FINANCE
Financial planning and analysis
Low
High
Moderate
Financial planning
Decision support
Forecasting
Long-range planning
Annual budget/plan
Sales and marketing
Corporate
R&D
Operations and supply chain
Support functions
Accounting/transaction processing
Low
High
Moderate
Record to report
Invoice to cash
Purchase to pay
Accounts
receivable
Accounting policy
Close and consolidation
General ledger accounting
Credit
Billing
Collections
Internal management reporting
External reporting (including statutory reporting)
Accounts
payable
Expense
reimbursement
Capital planning
Low
High
Moderate
Capital planning
Project accounting
Policies and procedures
Control and internal audit
Policies and
procedures
Compliance reporting
Auditing
Low
High
Moderate
Expertise
Low
High
Moderate
Risk management
Investor relations
Regulatory
Treasury
Low
High
Moderate
Cash and liquidity management
Risk management
Capital markets
Tax
Low
High
Moderate
Tax strategy and planning
Tax
compliance
Tax processing
Generative AI potential | FINANCE
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Turn financial data into insightful, data-driven commentary for internal management reporting
Generate management’s discussion and analysis commentary for public filings
Assist a credit approver with retrieving and summarizing customer credit and employment history to approve credit application
Generate customized invoices for nonstandard customer orders
Generate scripts for customer service representatives to follow regarding collections and dispute resolutions
Improve quality of supplier self-service for FAQs (e.g., status of payment, supplier policies, etc.)
Fill in expense reimbursement form by providing relevant details
Conduct external research on accounting policies to answer accounting questions
Generate accounting entries to post into the general ledger based on rules and provided information
Draft accounts receivable maturity report, and focus on collecting fees from specific customers
Reconcile accounts during the close process
Search through tax code to find relevant citations (e.g., section number, etc.)
Prepare documentation and record requests for tax audits
Generate a tax entry for the general ledger based on rules and provided information
Trigger automation of treasury activities to manage idle cash
Search and retrieve internal and external data to help assess risks associated with capital decisions
Summarize investment portfolio performance, and compare with market indices
Review trading activity, and identify and summarize potential compliance issues such as insider trading
Review research reports and press releases from competitors’ earnings calls, and summarize findings
Search and retrieve relevant information and document fees, taxes, and other regulatory requirements to support regulatory accounting
Retrieve relevant data from supporting systems to conduct audits
Draft audit reports following completion
of disclosure review
Conduct research on potential risks to support policy development
Assist project manager in searching for and summarizing quantitative and qualitative measures to assess whether a project is likely to be approved
Fill in a business case template for capital project review
Search and compare actual project revenue, costs, resources, and timelines with planned project revenue, costs, resources, and timelines to help stakeholders effectively manage projects
Search and summarize data on competitor M&A deals and synergies achieved from public filings to support M&A decisions
Search and summarize R&D actual spending vs. planned spending over time
Search and summarize historical sales data to help inform a sales decision
Search and compare general and administrative spending with key competitors over time to identify potential improvement
Search and compare production hours to available shift hours to assess manufacturing productivity against external benchmarks
Summarize long-range plan created by FP&A team and key drivers for business performance
Draft initial plan by pulling in key input from various internal departments (e.g., sales plan data, etc.)
Draft management commentary on forecasted business performance