The event was organized by the Vietnam CFO Club with the participation of 300 guests representing businesses, senior financial managers, investors and leading domestic and international financial management consultants.
At the beginning of his speech, Mr. Le Hong Quang pointed out the challenges that CFOs face in the current digital age. That is data overload and the need for increasingly fast, multi-dimensional and accurate reporting. However, most of the finance department's time is still "eaten" by manual tasks such as collecting, synthesizing, comparing data and forecasting. This not only increases work pressure but also poses the risk of errors, causing businesses to miss golden moments to make strategic decisions. Citing a 2023 Harvard Business Review study, he said that 72% of CFOs feel overloaded by manual data collection, synthesis and forecasting, showing that this is a global problem, not just in Vietnam.
From that reality, the General Director of MISA introduced the concept of “AI Twin” – an AI digital copy of the finance and accounting department that helps automate repetitive tasks, analyze, forecast and propose decisions in real time. With accounting, automatically record transactions, control smart costs, detect errors and fraud, and comply with regulations. At the CFO level, AI Twin helps process data thousands of times faster than humans, analyze real time 24/7, and support decision making based on deep insights.
Not only presenting a vision, Mr. Le Hong Quang also proposed a clear and practical roadmap for implementing AI Twin for the finance and accounting sector. Enterprises first need to choose core financial indicators that are consistent with the strategy, in which AI can support suggesting a standard set of indicators. Next is integrating and cleaning data from multiple sources to create a reliable analytical platform. On that basis, enterprises build analytical models, forecasts, automatic warnings and present results via dashboards and real-time reports to serve decision making. Finally, the system is continuously optimized as AI learns from new data, helping the model become more accurate and closer to operational reality.
Keeping up with the trend of applying AI Twin to management, MISA has developed the MISA AMIS unified business management platform as an “AI-friendly” data ecosystem, where data from accounting, sales, human resources, operations departments, etc. are seamlessly connected. On that platform, AI Twin CFO and AI Twin Accounting can operate synchronously, from detailed business processing to analysis, forecasting and strategic recommendations at the leadership level.
At the end of his speech, Mr. Le Hong Quang emphasized: "In the future, a successful CFO will not be the one who knows the most about data, but the one who knows how to use AI to turn data into strategic decisions."
In addition to the presentation, General Director Le Hong Quang also participated in a panel discussion with the topic “Future of Finance: Talent, Technology & Transformation” with speakers: Mr. Xavier Potier – Deputy General Director of Consulting and Risk Management Services, PwC Vietnam; Mr. Mickaël Driol – General Director of Mekong Partners; Mr. Pham Linh – Deputy General Director of Vietbank. The discussion was moderated by Mr. Trinh Minh Giang – Managing Director, VMCG Capital, providing multi-dimensional perspectives on human resource strategy, technology application and the transformation journey of the finance department in modern enterprises.
With over 30 years of strength in the technology field, MISA hopes to accompany the Vietnamese business community in mastering AI technology and effectively applying it in financial management. Thereby, helping businesses improve their capacity, competitive advantage and quickly seize opportunities to "overcome difficulties" in a challenging economic context.
Source: https://www.misa.vn/155329/ai-khong-thay-the-cfo-ma-nang-tam-vai-tro-cfo-thanh-nha-chien-luoc-du-lieu/
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