The Impact of AI Integration on Financial Close Processes in Large-Scale Enterprises

ABSTRACT: In this study, we investigate the revolutionary impact that large scale organisation’s financial closure procedures can have by bringing AI into the picture. And the ways to perform traditional financial close were laborious, error prone and increasingly ineffective in today’s high complexity, fast pace business environments. The research represents through empirical analysis that includes case studies of Fortune 500 companies, significant improvements in close cycle times, data accuracy and internal control, which are driven by the technology. It also covers explored challenges such as change management resistance, data governance issues, etc. Overall, the results show that while AI can improve efficiency and transparency, it needs strong governance, work force readiness and putting efforts in practicing ethical AI.