Skip to main content

AI and the growth of your business

The endgame of any successful company is to

increase their revenue, optimise marketing and

respond to emerging trends. In order to achieve

all this, you need to take certain steps such as

implementing AI to improve your financial audit.


Check out the above posts to know how AI can

benefit your company by improving its financial audits


Have you ever considered leveraging AI to help

you with your business's financial processes?


Here are a few ways where AI can bring

significant growth to your company 


  • Cost reduction

The use of AI will lower the expenditure required for

manual hours of research and analysis


  • Audit quality

AI systems will learn and adapt to datasets so that

they can improve the accuracy in the data processing


  • Foreseeing and resolving financial issues

AI can help in making reformed predictions about

the likelihood of an individual or an organisation, which

can aid you in extracting the required additional data

while being prone to less human error


  • Security and Fraud

A branch of AI aka machine learning can be used

to detect credit card counterfeit and similar fraudulent activities


  • Monitoring of traders

Automated systems can be used to link trading

information with other behavioural information

such as email traffic, telephone calls etc in order

to bring in a form of structure to all the

amorphous data


These are some of the ways AI can help in bringing

good profit to your company and


If you desire to learn more about how AI can bear fruit

on your company finances.


Reach out to us at KGMC India if you would like
to explore the various opportunities using an experienced 
financial team to guide you to make the most out of 

these methods.

Comments

Popular posts from this blog

How can Companies Save Money on Employee Travel Expenses?

Managing travel expenditures for many employees may appear to be difficult, especially when employees are travelling from different locations at different times. Companies are typically unaware of how to reduce employee travel expenditures. Therefore we've compiled a list of the top 6 tips to help you save money on employee travel expenses. Prepare budget forecasts: Preparing a budget ahead of time will be quite beneficial since it will allow you to understand your spending better and avoid wasting money on not-so-important things. You may also encourage your employees to save money by rewarding them with food and shopping coupons. Checkout corporate reward schemes: You can provide a variety of corporate reward schemes to your employees. The enrollment for these programs is typically free or modest. You usually obtain points every time you buy your tickets, which can be used towards ticketing, lodging, and other expenses. Book flights and hotels in advance: To save money, book fli...

Confused about when to outsource accounting?

Organisations that decide to outsource accounting  services sometimes find it difficult to determine the  the right time to switch for many reasons. But what are the 'right time', changes from organisation  to the organisation and the right time is… Well, there is no such thing as the 'right time to outsource. It is more of a need-based decision. The need to outsource  is also driven by various circumstances. Here are some factors to help you decide when to make the switch! ✅ When you are spending a lot: Suppose you are spending an excessive amount on in-house  staff or encountering a lot of mistakes, and facing overdue  fees and penalties from distributors and the federal government.  In that case, the ideal time to switch is right now. ✅ When you lack professional expertise in hand: The Professional expertise required by the organisation is  difficult to find at an affordable price, and so is the automation technology. This is why it influences ...

CFOs KPI

What is a CFOs KPI? A CFOs Key Performance Indicator (KPI) or metric  is a quantifiable high-level measure of financial  performance. These KPI metrics can also be used to measure a company's financial performance relative  to competitors in the same industry.  Here are 6 Key Performance Indicators every  CFO should be aware of... 1. GPM (Gross Profit Margin) -   GPM compares the cost of the goods or services  to the income derived from those costs. It determines how effective the organisation is at making money  from its revenue production activities.   2. Quick Ratio -  Quick Ratio measures a company's ability to immediately fulfil its short-term financial obligations. It allows you to quickly assess the financial health of your company for  immediate turnaround and decision changes.  Quick Ratio = (Cash + Marketable Securities + Accounts Receivable) / Current Liabilities 3. EBITDA (Earnings Befo...