Everywhere you go, you hear how AI is transforming how things get done.
AI technology can be used to automate processes to drive more productivity and enhance internal efficiencies across a wide range of industries. In fact, AI is being utilised now to diagnose diseases, detect fraud, analyse large volumes of data, predict trends, deliver customer support, translate languages, create content and more.
But while it’s true that AI offers a lot of benefits to both businesses and individuals, there’s also a growing (and understandable) concern that such rapid advancements in AI may cause people to lose their jobs.
Many are worried that humans will be completely replaced by AI.
At Dexterous, however, we believe that this isn’t true – humans and technology can actually co-exist to deliver even more value. In fact, we already offer this to our clients. Our hybrid approach to building and running a finance department combines a global workforce with innovative technology to help businesses like yours scale fast and achieve greater success.
Let’s delve into how the future will be together with AI, rather than against it.
Combining the power of AI and the capabilities of humans for your business’ success
We can’t deny that some business owners and employees are nervous about the growth of AI. After all, it disrupts traditional business models and can easily take over a wide number of tasks.
This often makes people anxious because they see AI (or any other form of advanced technology!) as a threat to their livelihood. Just recall how taxi operators and drivers complained about Uber’s operations or how hoteliers opposed Airbnb originally.
Nevertheless, there’s no reason for you to panic! You have to remember – humans and AI are not mutually exclusive.
Forward-thinking businesses can use AI to innovate, as well as improve human employees’ performance and output. In the same way, human judgment, skills and empathy are imperative to fully take advantage of AI technologies.
Case in point: our Dexterous team takes pride in being technology-driven and future-focused. We proactively invest in innovative technologies to provide Managed Finance Services that constantly meet your business’ evolving requirements.
Part of what we offer even includes Business Intelligence services that enable you to make more informed management decisions, as well as Robotic Process Automation (RPA) that eliminates time-consuming work.
Imagine the possibilities for your business!
Leveraging AI in finance functions
AI technology offers flexibility, scalability and speed, making it easier to streamline and optimise processes involved in finance.
Some common applications of AI in finance include:
- risk assessment and management
- detection, management and prevention of fraud
- credit evaluation
- loan repayment prediction
- analysis and reporting
- cybersecurity and data protection
- chatbots for customer support
- and more!
But despite how fast and accurate AI can be or seem, business owners know this is not enough.
What can give them more peace of mind is having a reliable finance team by their side that can help them:
- perform bookkeeping, payroll and collections
- interpret numbers and provide comprehensive insights valuable in making decisions
- uncover current finance department challenges and capitalise on opportunities
- prepare for regulatory changes and comply with tax requirements,
- as well as come up with sustainable financial and growth strategies.
Businesses understand that to drive productivity levels and supercharge long-term success, they need more than just advanced AI technology.
What is truly advantageous is being backed by a finance department that can augment their technical skills, human knowledge, years of experience and leadership with the strengths of AI.
Having a flexible and innovative hybrid finance team is key
At Dexterous, we offer an alternative way to build and manage your finance department in this fast-paced business environment of today (and tomorrow).
Highlighted by our Dexterous Difference, we enable you to take advantage of a plug-and-play Finance department solution without having to worry about recruitment, retention, upskilling or key person risks.
Our hybrid finance team serves as your external finance department working internally for your business. Through Dexterous’ Finance Department as a Service, you can address all of the limitations and challenges faced by an internal finance team.
So, why is this relevant in today’s AI-driven world?
Simple! This means:
- You can have a tailored finance department solution that is scalable whenever you need to be.
- You have access to a wide range of corporate finance professionals who are equipped with both the emerging AI tools and human expertise to help grow your business.
- You’ll be able to benefit from the financial technology and resources our finance specialists use without directly investing in them, saving you time, money and resources.
So, whether you’re looking to expand your business, understand your profitable and loss-making services, realign your focus towards your higher-margin products or simply want more clarity over where your money is going, you can rely on Dexterous to have the technology and human capabilities to make that a reality for you.
Do you want an agile and future-proofed human finance team in today’s AI-driven world?
At Dexterous, we go far beyond virtual bookkeeping and external accounting services.
We provide a turnkey managed finance solution that works for you through a financial, operating and growth lens. This means that we leverage all the latest business tools including Robotic Process Automation (RPA), access global talent and manage your finance department with the local expertise of our Sydney team.
We also equip you with a strategic approach and cost-effective function not just to address the challenges of recession today, but to help you thrive and achieve more growth in the future.