It is undeniable that numbers alone do not drive decisions, as finance leaders who stand out today do more than report results: they tell stories, shape decisions, and build trust across the business.
In a recent guide released by Oracle NetSuite, the need for finance teams to focus on developing soft skills was highlighted, turning numbers into clear, memorable stories and influencing decisions as opposed to just presenting data.
According to the guide, if soft skills like storytelling amplify influence, AI accelerates insight. Together, these two are a powerful and unstoppable combination.
CFOs are tasked to position themselves at the forefront of AI, and the most effective approach is to begin with a clear AI strategy—one that identifies areas to drive both efficiency and effectiveness while staying aligned with corporate governance and compliance standards.
Oracle NetSuite encourages CFOs to leverage AI for advanced analysis, as automating transactional processes such as invoice processing, reconciliations, and routine reporting allows finance teams to reduce manual work and reallocate their time to higher-value activities.
The CFO’s team can generate insights on industry benchmarks, competitor strategies, and market shifts—insights that once took weeks to compile.
The guide highlights that when CFOs embrace AI in this way, they elevate their role from financial steward to strategic partner— providing data-driven foresight that helps the organisation navigate change with confidence.
Oracle NetSuite enumerates practical examples on how CFOs can leverage AI H
• Forecasting and Scenario Planning. AI can analyse historical financials, sales orders, and market data to improve cash flow, P&L, and balance sheet forecasts. Instead of static budgets, CFOs can run “what-if” scenarios in real time.
• Automated Close and Reconciliation. AI can match transactions, identify anomalies, and reduce manual reconciliations. This reduces close time and frees up accountants to focus on insights.
• Spend and Expense Optimisation. AI can scan procurement and T&E data to flag outliers, duplicate invoices, or unusual spending patterns. It can also benchmark supplier pricing against market norms.
• Cash Flow and Working Capital. AI models can predict customer payment behaviour (DSO), helping finance leaders optimise collections and working capital. Vendor payment schedules can be adjusted dynamically.
• Narrative Reporting and Insights. Instead of raw reports, AI can generate executive-ready commentary. Note that this commentary is just a starting point and needs to be refined and brought into context by the finance team.
