The Impact of AI on SAP Cloud-Based Financial Management

Betty Heleen

No m8t4d_v1, OSF Preprints from Center for Open Science

Abstract: The integration of Artificial Intelligence (AI) into cloud-based financial management systems has transformed how businesses handle their financial operations. Within the context of SAP Cloud, AI technologies have emerged as a key enabler for streamlining financial processes, improving data accuracy, and enhancing decision-making. By automating routine tasks such as data entry, reconciliation, and reporting, AI minimizes human error and reduces operational costs, offering businesses a competitive edge. Furthermore, AI’s ability to analyze vast amounts of financial data in real-time allows for predictive analytics and deeper insights, helping companies proactively manage financial risks and seize new opportunities. This paper explores the significant impact of AI on SAP Cloud-based financial management, focusing on its contributions to efficiency, security, and strategic financial planning. It also examines the challenges associated with AI implementation, including data privacy concerns, the need for skilled professionals, and the adaptability of traditional financial teams to new technologies. By investigating both the advantages and challenges, this research provides a comprehensive understanding of how AI is reshaping the landscape of financial management within SAP Cloud environments.

Date: 2022-11-08
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:m8t4d_v1

DOI: 10.31219/osf.io/m8t4d_v1

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