- Digital World Class® finance teams operate at 45% lower cost and deliver insights 74% faster.
- Top organizations leverage Gen AI to enhance process efficiency and strategic decision-making.
- The Hackett Group (HCKT, Financial) outlines key performance areas for achieving superior finance operations.
The Hackett Group, Inc. (HCKT), a prominent consultancy and executive advisory firm specializing in generative artificial intelligence (Gen AI), has unveiled its latest research on Digital World Class® finance organizations. These top-performing entities operate at a remarkable 45% lower cost as a percentage of revenue compared to peers, accelerate executive insights by 74%, and deliver forecasts 57% faster.
Digital World Class® finance teams are distinguished by their strategic use of Gen AI, which allows them to focus more on analysis and insights rather than data collection. This leads to quicker and smarter business decisions, a critical advantage in today's fast-paced business environment. According to Martijn Geerling, managing director at The Hackett Group, these organizations are reshaping their operations to seize the opportunities presented by Gen AI, resulting in significant enterprise value.
The research identifies five key performance areas where Digital World Class® finance departments excel: business effectiveness, digital enablement, customer and stakeholder experience, operational efficiency, and business process automation. Notably, these organizations are 56% more likely to automate customer-to-cash processes and have achieved 80% automation in accounts payable workflows.
The Hackett Group (HCKT, Financial) emphasizes the importance of redesigning the finance operating model to fully integrate Gen AI capabilities. This involves updating technology, upskilling human capital, and establishing AI-ready data governance to support enhanced forecasting and strategic planning.
By utilizing Gen AI, these finance teams are not only reducing operational costs but are also becoming vital strategic partners within their organizations, offering insights that drive measurable business impact. For more details, a free version of the research paper is available for registration on The Hackett Group's website.
