With an unpredictable market, technological advances and an uncertain world, there’s a lot to consider as a CFO. That’s why we want to make it a little easier for you to navigate a challenging 2025.
At Rillion, we automate accounts payable for over 2,500 companies and meet with CFOs daily to understand their needs.
We’ve gathered the priorities that matter most to them right now. Let’s dive into it.
AI is gaining even more ground
Many of the CFOs we meet are looking for a solution that can streamline the invoice flow. Some are struggling with increased invoice volumes, while others want to free up time from manual entry, which can be spent on more value-adding tasks.
That’s where AI and automation come in. There are huge gains in time and money to be made by automating manual and repetitive work, such as processing supplier invoices. Add AI to the equation and the gains increase even further.
In Rillion, you can achieve a fully automated process for handling invoices. By letting AI do the coding for you, you minimize the risk of manual errors and dramatically reduce the time spent in the authorization chain.
Take control of payment terms
Improving cash flow is always a top priority for a CFO. Here we see an increased focus on not spending capital unnecessarily, and more specifically, getting a better handle on payment terms to avoid paying too early.
Perhaps the payment terms on your incoming invoices differ from what you have agreed? As an authorizer, it is easy to approve the invoice without knowing what applies in each case. Therefore, it is valuable for you as a CFO to get an overview of how well your negotiated payment terms are complied with on a simple dashboard so that you can act on it.
In Rillion, you can produce an analysis of your supplier payments to see how many invoices are being paid according to the negotiated terms. You can also see a simulation of what it might look like if you negotiate longer payment terms or start sticking to what you’ve actually agreed.
Proper purchasing processes for better cost control
Another topic that is always at the top of the CFO’s priority list is cost control. When we talk to CFOs, they express a desire to easily gain insight into their organization’s costs in order to optimize them. But one cost category that is often underestimated is indirect purchases and the impact they have on company spending.
By establishing proper purchasing processes, you can reduce your overhead costs and increase productivity and competitiveness. With Rillion’s help, you can automate the purchasing process by having the system match invoices to purchase orders or contracts. You can also certify the purchase order instead of the invoice and get full cost control before the purchase is made. Worth mentioning is that you can create purchase orders directly in Rillion which further simplifies the process and gives you more control.
Read also: Stop throwing your money away
Using data the right way
Today, a CFO is expected to lead the company forward by providing analysis and forecasts, rather than just summarizing how the company has performed historically. And to be proactive, analysis and reporting must be streamlined. Gone are the days when your company’s numbers are scattered in various Excel documents, and now companies are really starting to unlock their data.
With a sophisticated analytics tool like Rillion Analytics, you can make data-driven decisions that benefit your entire organization. With all your data in one place, you can simulate future costs, cash flow and supply chain risks, and see the level of automation in your invoice flow.
Protection against fraud attempts
Fraud attempts are becoming more and more common and it is getting harder and harder to detect fraudulent invoices. That’s why your organization needs to work with your CFO to tackle the problem and put robust security measures in place.
With an invoice management system like Rillion, you can identify scam invoices before the damage is done. The system automatically alerts you if the invoice doesn’t appear to be valid by validating the invoice against alert-listed suppliers.
Read also: Accounts Payable Fraud: Detection and Prevention
Summing it up
CFOs seem to have a busy year ahead of them, and it’s important to keep your eyes on the prize in order to be proactive. With Rillion’s help, you can focus on doing just that by automating invoice flow, analysis and reporting. It gives you control over your costs, minimizes risks and frees up your time for value-creating tasks.
Book a demo to find out more about how Rillion can help your organization to automate accounts payable.
