""Firstly, accounting is governed by rules, the focus is compliance, the focus is ensuring things are done right [and] that's a big part of the role of finance," said Sankar. "I want to make sure that I sign on the dotted line saying these numbers are accurate that I'm complying with rules and regulations. "That will never change but if you look at how it is performed today it's a very labour intensive process so we believe there's a lot of opportunity for automation.""
""Secondly, a lot of accounting work tends to be back-end loaded at the end of the month or quarter. There are a lot of adjustments, reconciliations, all that needs to be done [and] these adjustments and reconciliations need to be documented because they need to be auditable. "What AI agents give you is an opportunity to take those processes from a back-end fire drill to a set of continuous processes that happen throughout each quarter.""
Oracle is adding agentic AI features to its Fusion Cloud Applications ERP and other Fusion Cloud offerings. Built in Oracle AI Agent Studio for Fusion, these agents embed within finance processes to increase productivity, improve business performance, and help accounts teams meet regulatory compliance. The agents automate labour-intensive accounting tasks, support continuous reconciliations and adjustments, and transform month- or quarter-end back-loaded work into ongoing processes. The automation aims to preserve compliance and auditability while freeing finance staff to focus on judgment and strategic activities. Oracle positions the technology as enabling proactive, continuous finance operations driven by AI assistants.
Read at ComputerWeekly.com
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