Amid the ongoing transformation in the business world brought about by varying factors such as economical shifts, regulatory adjustments, and market volatility, it is certain that the confidence to make swift changes to organisations' policies and workflow does not come in easily.
Experts have said time and again that deep monitoring and predictive analysis, along with a substantial amount of data play vital roles in business decisions.
For this matter, automation has taken the spotlight to allow organisation heads to zoom out and look at the big picture, making way for more strategic planning to thrive amid the unending shifts in the market.
Workflow automation tools can indeed make a real difference here, as systems powered by artificial intelligence work well when it comes to staying ahead of the curve by taking into account the changes happening in real time.
Jo-ann Chung, chief executive officer at software development company Summit, thinks AI has quickly moved beyond being just a buzzword for finance teams, as it is now a real and practical tool that is reshaping how teams work day to day.
Excelling with AI
In Chung's view, chief financial officers in in Southeast Asia expect digital technologies and automation to play a bigger role in their organisations' operations, which explains why one of the biggest changes they have seen in finance teams is how quickly they have embraced automation that is driven by AI.
"Tasks like accounts payable, expense reporting and reconciliation, which used to be time-consuming, are now being handled more efficiently with AI-driven tools," Chung observes. "This cuts down on manual errors, ensures data is more consistent, and saves a lot of time."
She believes AI is also helping with data capture and classification, which improves the speed and accuracy of financial processes. As a result, finance teams are better equipped to focus on more strategic work.
"We see this shift happening every day at Summit. The AI-powered spend management platform helps teams access real-time analytics and integrates easily with cloud-based ERPs. This makes financial data more accessible across the business and supports quicker, better decisions."
Chung says that with data literacy and AI skills on the rise, finance professionals are in a great position to take on more strategic roles.
Various research findings have shown how quickly AI is becoming an essential part of the finance function. Chung notes that they are now seeing technological advancements drive real impact across everything from forecasting to fraud detection.
"For instance, AI-powered tools can now spot unusual transactions in real time, which helps reduce financial risk and tighten compliance. That kind of real-time visibility is something finance teams didn’t have just a few years ago."
She adds that forecasting is another area where AI is making a big difference, as it is helping finance teams improve the accuracy of revenue and cash flow projections, even in volatile market conditions. In her opinion, this is a huge win when businesses are trying to stay agile and plan ahead with confidence.
"Of course, with all these advances, there's also been some concern among accountants and finance professionals about job security, especially as automation picks up speed," she admits. "But what we're seeing is that AI is evolving finance roles, not replacing them."
She believes that by taking over repetitive, time-consuming tasks like data entry or reconciliation, it frees up accountants to focus on higher-value work: interpreting data, advising the business, and contributing to strategy.
"In many ways, it's elevating the role of the finance professional, not eliminating it. The future of finance isn't man versus machine. It's about people and technology working better together."
Jo-ann Chung, CEO, Summit
US tariffs and the global landscape
It should be considered that changes in the global landscape, such as the US tariffs and the market becoming more unpredictable, affect finance teams in organisations in Southeast Asia.
"Finance teams are under pressure to help their businesses stay resilient and profitable," Chung says. "Tariffs add a whole new layer of financial uncertainty, and that means finance can't just rely on annual plans anymore."
She adds, "supplies chains are being disrupted as we speak, prices change every hour and that definitely impacts a business' bottomline. That's why there's a much bigger need for real-time scenario planning and stress testing to understand how different tariff outcomes could hit the bottom line."
One of the biggest shifts Chung is seeing is the need for faster access to accurate cost information.
"In today's environment, being able to respond quickly as prices change, supply routes change, or currencies fluctuate can mean the difference between running at a profit or slipping into loss."
Chung muses, "sometimes it can even mean the difference between a business actually surviving or shuttering, especially for ones that are heavily reliant on international trade. Real-time financial data gives businesses the visibility they need to make smart, timely decisions."
On top of that, Chung says foreign exchange risk and tighter margins mean working capital is back in the spotlight. Liquidity management is a must for riding out market volatility with confidence.
Embracing AI and automation
Chung concedes that AI has been completely changing how finance teams approach analysis and decision-making.
Instead of spending hours or days pulling data together, teams can now access real-time, accurate numbers almost instantly, which means more time spent on analysing what the data is telling them, and on figuring out the next move for the business.
"The newer models are especially good at picking up patterns in large data sets, things a human might miss or take weeks to uncover. That helps teams move beyond just reporting on the past to actually predicting what’s likely to happen next."
She says machine learning models, for example, can refine forecasts over time, helping make budgeting and long-term planning more reliable.
"Scenario modelling tools are also helping finance teams explore the impact of different situations, like tariffs or supply chain disruptions, so they can prepare for what's ahead, but there's still time before this becomes fully mainstream for finance teams across the board."
In a volatile market, Chung explains that timing is everything.
"Automation gives finance teams the speed and accuracy they need to stay agile. Instead of waiting days or even weeks to pull together data manually, teams can access real-time financial information almost instantly. That's a game-changer when conditions are shifting fast and decisions need to be made quickly."
She cites expense management as example. "With automation, finance teams can immediately track how changing costs — like fuel prices, currency values or supplier rates — are affecting the business. They can answer critical questions on spend patterns or cost impact in real time, instead of scrambling to compile data from different systems, which take weeks or even months sometimes."
Chungs says this also helps finance teams pivot strategies much quicker when things look particularly unfavourable.
"No matter what the business is, time is money," she points out.
Automation also reduces manual errors, which companies become prone to especially during high-pressure periods like month- or quarter-end close.
"With automated alerts and dashboards constantly monitoring for changes, it's like having a radar system that helps finance teams spot risks early and take action before issues escalate."
Ultimately, Chung believes automation frees up time, improves accuracy and helps teams stay focused on guiding the business through uncertainty with confidence and clarity.
Consolidating data
Digital tools have become essential for finance teams that want to move fast without compromising accuracy.
Chung says one of their biggest strengths is how they consolidate data from different departments like finance, procurement, HR, sales, into a single, connected view, noting that this is a huge time-saver, especially during budgeting season or when preparing for board reporting.
"Real-time dashboards also help catch discrepancies early," she adds. "If marketing overspends on a campaign or travel costs suddenly spike, finance can see it almost immediately rather than waiting for month-end reports. And because the data is clean and consistent, there's less back-and-forth chasing down numbers or correcting reporting errors."
Chung thinks that another benefit often overlooked is how digital tools streamline communication between finance and other business units.
"When everyone is looking at the same real-time data, it's much easier to align on priorities and move decisions forward. Say a department wants to invest in new software or expand headcount."
She believes having instant access to up-to-date budget and forecast data helps finance give a quick, informed response, instead of going back and forth over email, speeding up approvals and building trust across teams, because decisions are backed by transparent, easily accessible information.
Advice
For finance leaders looking to get the most out of emerging tech, Chung advises that the first step is to embrace it rather than fear it.
"It's totally normal to feel a little out of your depth when a new system or tool is introduced. But the best way to build confidence is to start using it."
She explains that one does not need to be a tech expert, and that being open to learning and experimenting can go a long way.
"Next, encourage your team to keep learning. Upskilling in areas like data analytics, AI literacy, or even just getting more comfortable with dashboards can pay off quickly."
She believes a finance team that understands how to use these tools is far better equipped to spot opportunities and navigate risks.
"When it comes to implementation, start small. You don't need a massive system overhaul to see impact. Choose simple use cases that solve real pain points and deliver quick wins."
For instance, she says automating the capture of expense data can improve accuracy and save hours of manual entry. Digitising approval workflows means less time chasing down emails, especially during audits, and tools that detect anomalies in real-time can flag suspicious payments before they are processed, providing peace of mind.
She adds that finance teams must also look for software that plays well with their existing systems. Integration with accounting tools or ERPs reduces the risk of errors and makes the whole setup more seamless from day one.
"Finally, don't underestimate the role of data. AI doesn't just rely on clean data, it can actually help improve it too."
Chung believes that by reducing inconsistencies and flagging outliers early, AI lays the groundwork for more reliable reporting and better decision-making.
