Powering the Self-Driving Finance Back Office

The number one question we get from every CFO is, “when can I get to a self-driving autonomous enterprise?”

What the CEO, the board, and the executive staff that is around me are truly expecting is guidance. Finance is a function that exists across every single company.

And so what’s very exciting to me about auditoria is that they are applying machine learning to such a large market, a problem literally, which touches every company in the whole world for fast-growing Silicon Valley companies.

You have to be thinking about using AI because your company won’t scale your G&A costs won’t scale. If you’re not leveraging AI to handle so much of the workload that you would normally in the past, have hired contractors to do at peak times or outsourced. So what excites me about auditoria and its technology is from an editorial standpoint, there’s a very good team.

What’s been assembled are serial entrepreneurs: people who’ve done this before. So when I met the team, I had a lot of confidence that this was a company that was going to go places.

We are very excited about being able to use a platform like Auditoria, to have a 3-4X multiplier in our productivity and your ability to do, to help support the company’s growth.

What Auditoria gives me is the ability to have a software implementation you implement, and you train it once. And as you continue to do that, you never lose that. You never worry about scale. You never worry about replacing talent. You never worry about those audit erros. That’s really what excites me about Auditoria. So early adopters of this technology are going to have a massive advantage. It’s really about how you train these systems, how you create new models.

You’ll be the pioneers, really thinking about what the future finance looks like. What gets automated. When you think about when humans make decisions, how you become more strategic and how we get to ultimately a world of situational awareness in this stuff, would’ve been impossible.

Even three or four years ago, AI deep learning machine learning, labeled data, clean data, consistent data, all that enables the creation of the 200 forms of automation. That team at Auditoria is building today. As we look at automation and companies that we are evaluating from machine learning, artificial intelligence, how do we automate functions in the finance and audit and accounting world?

The important thing is how do you make repeatable non-value-add tasks, go away, ask the question of if we double our vendor count, how will it impact our time to prepare for an audit? If we double our customers, what will happen?

And the answer is often, well, we’ll need two more of these people, or we’ll need three more contractors. That’s not the right answer. So anywhere where you need to scale the company and you’re growing, you should really be looking at Auditoria. If we can come in and supplement people’s roles with a technology that removes the rudimentary tasks and allows them to focus on how do we come more efficient as an that’s going to be an area that I would buy that technology any day.

The future is really about getting to precision decisions and precision decisions happens when you actually automate your transactions, you deploy artificial intelligence and you can create an autonomous enterprise. That’s where we’re headed in the next 10 years.