Automation in Finance

Automation
CFO Summit
Technology
January 4, 2022
2
min read
WRITTEN By
Matt Appel
Matt Appel

Matt Appel

CFO

Jeff Canning, during Ampleo’s Intermountain CFO Summit, describes the importance of data security, automation in finance, and the responsibility of the CFO to provide oversight and guidance through the evolving technology that ensures data integrity in the world of finance and accounting.

Jeff explains what really matters in finance and accounting…. TIME! We are all allotted the same amount of hours in a day, and as finance professionals, we need to maximize our efforts and do more with less. This is the overall purpose of automation in finance.

Key takeaways:

  • Compress the time it takes to get data and information before it gets to us at the CFO level
  • Data security is key – we must ensure financial data is secure
  • Automation = cost savings
  • APIs – we need to ensure that our systems are talking to each other
  • Bots can streamline basic processes and remove 99% of human error
  • Adopt technology, don’t be satisfied with where you’re at, and adoption speed will be key to having a competitive advantage in the future

Quotes:

“The team can only go as fast as the slowest output”

“Bots are your friends”

“We need to adapt and be ahead of this change or we will be left behind”

“We need to continue to change, or we change professions”

WRITTEN BY
Matt Appel

Matt Appel

CFO

Matt Appel worked for over a decade as a controller and CFO doing strategic analysis for multiple SMBs and owned his own companies over the years before joining Amplēo in 2018. After a successful career helping companies in the hospitality, retail, software, cannabis, network security, marketing, and manufacturing industries, Matt now consults SaaS companies, real estate development, and property management companies, as well as many others with financials, forecasting, accurate and timely month-end close, process improvements, and consulting on metric reporting and overall high-level analysis on the direction of the business.

Fun Facts/Hobbies

  • Enjoys last-minute trips around the world
  • Mountain biking
  • Loves spending time with his wife and 3 children

Education/Certificates

  • BS in Accounting from the University of Utah
  • Accounting-focused MBA from Utah Valley University.

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