Finance + tech = BFFs. Tech can bring out the best in finance, helping the pros streamline workflows without getting bogged down in manual tasks. Workiva brings tech and finance together to create a single source of truth for data. From assured integrated reporting to governance, risk, compliance, and sustainability, Workiva’s solutions are designed with finance pros in mind. Learn more.
You’ve seen all the new and new-to-finance tech out there. It’s exciting stuff. But who’s got time to figure out how they’ll actually make your team’s work easier?
[insert cricket song]
Need a little help navigating the space between “hey, cool” and “here’s how we use this”?
Well, we had a whole event about it.
That’s right. CFO Brew teamed up with Workiva for Finance Reimagined: The Tech and Talent of Tomorrow. Morning Brew’s own Ann Berry joined Workiva’s Chelsea Hall (industry principal, SEC) and BILL’s Mary Kay Bowman (EVP, GM of payments and financial services) to get the scoop on how tech is transforming finance.
If you missed the fun, walk with us as we relive the high points, from increasing team collaboration to AI FOMO to the factors impacting adoption of new tools—and how leaders can prepare for the future of finance.
Meet the pros
Before we dive into their convo, let’s first meet these finance powerhouses + their equally powerful qualifications.
Ann Berry, aka the host of Morning Brew’s After Earnings, has spent most of her career in the finance + private equity worlds, both as a TV commentator and an executive.
Chelsea Hall’s role as a Workiva industry principal supporting SEC and financial reporting is the culmination of a long career working with publicly traded companies. Before joining the Workiva team, she served as vice president, corporate controller of Boart Longyear, previously listed on ASX before a take-private transaction in 2024. And before that, she was the director of financial reporting and technical accounting at Control4 (NASDAQ: CTRL).
Before joining BILL as the EVP + general manager of payments and financial services, Mary Kay Bowman spent 20 years working in global payments strategy, product development, and operations. Throughout her career, Bowman has worked at the intersection of commerce and financial services. Prior to her role at BILL, she was head of global buyer, seller, and platform product and solutions at Visa. And before that, Bowman was head of payments at Square, where she led engineering, product, and operations teams. She may not have seen it all, but she’s seen a lot of it.
Connect + collaborate
One of the biggest boons of the tech boom? New opportunities for connecting teams and boosting collaboration. When asked about how finance teams can use new tech to their advantage, our experts highlighted efficiency. Let’s talk about it.
Whether you’re looking to create a single source of truth for your data and break down silos or streamline day-to-day activities for AR, AP, and expense management pros, automation can be a game changer. With the right AI tools and new tech on your side, finance leaders can help create a throughline from data collection to AR + AP to data analysis.
AI’s not-so-biggest fans
Though AI’s launch into the mainstream may feel universal, some leaders are understandably hesitant about diving headfirst into the deep end of new tech.
“In terms of adoption, where you might not have as great [a rate] of adoption is when the current process isn’t really working,” said Hall. “That's where I see some of the resistance to adoption because people are still trying to understand and work with the existing process. And then some leaders will bring in technology to fix a broken process. I think that’s when you see a lot of resistance to any type of technology investment or adoption.”
“I think sometimes that comes from solutions from the past that have overpromised and underdelivered,” added Bowman. “So there might be some skepticism as well about whether it’ll make [finance’s] job really, truly easier.”
But hey, there’s always room for change, right?
“I think there’s just generally enough belief [within finance] that there’s always going to be more to do and maybe more interesting things to do once you get to the other side,” said Bowman. “So if automation, AI, or other technology can help get there, I have found [people are interested in it].”
AI’s FOMO effect
Despite some hesitation from finance leaders, AI’s meteoric rise has left some feeling FOMO, or the fear of missing out, on tech’s latest and greatest innovation. Both Hall and Bowman have witnessed more than a few tech cycles, and they bring fresh perspectives to the question: Are people investing in AI for AI’s sake?
The short answer: no. The majority of the industry is being thoughtful about where and when to invest. Hall explained that businesses shouldn’t chase technology. If you want to bring in a new tool, you’ve gotta start by examining the current process and establishing the outcome you’re looking for.
She used Workiva’s practices as an example: If you keep your core customers and goals in mind, you can determine if a new tool’s use cases will help you reach your goals. If AI can’t provide your org with the results you want, it may not be the right time to invest.
Bowman and BILL are no strangers to AI, having incorporated it into their AR + AP services before the AI boom. While she doesn’t believe tech for tech’s sake is a good idea, Bowman noted how important learning and experimentation remain within business functions. You never know where you’ll find a new opportunity for tech + humans to help each other work better together.
What’s next for finance
So, what’s a finance leader to do with all of these new innovations? How are you supposed to evaluate which ones work for your biz, let alone incorporate them into your strategy?
The answer is simple: Take it a little bit at a time. Don’t wait until launch day to familiarize yourself with the new AI tool or piece of software you’re considering.
Take it from a pro: “I’m a tinkerer. I’ve used a lot of the models [out there], from Anthropic to ChatGPT in my personal life,” said Bowman. “It’s really interesting to look at repetitive tasks that can be sources of errors and functions like that. Get used to some of the nomenclature by using it. It’s not that hard to start using. And if you’re starting with some of your own personal interests, there’s no downside because you can’t really mess it up.”
It’s worth looking into your org’s toolkit, too. You might already have access to corporate-safe AI tools that you can start using ASAP. IT is just an email away, after all.
“One thing I really think is helpful for a lot of the Workiva employees is that when we roll out AI within our platform, we are in the sandbox before launch,” said Hall. “So that’s really fun for all of the Workiva employees to be able to use it and experiment within our tool without doing damage.”
Both Hall and Bowman encouraged leaders to experiment with AI on their own. “I think for any leader out there, just use it for something really low stakes,” said Hall. “Ask it a really easy question; it’s fun to see what it comes back with.”
Ready to report
Wanna bring the convenience and ease of new tech into your company’s reporting processes? Workiva’s platform is designed to help.
For accounting, finance, risk, audit, and sustainability pros, Workiva is the single source of truth for your most important work. Workiva is the only software platform for assured integrated reporting, so you can create auditable reports with all of your financial and non-financial data.
But Workiva does more than help you wrangle up reports. Say goodbye to point solutions: Workiva’s offerings cover everything from automated financial reporting to governance, risk, compliance, and sustainability solutions. Take care of whatever comes your way—internal audits, risk management, policy + procedure management, and more—in just one platform.
Finance leaders may face challenges as new innovations emerge, but it’s also an opportunity to do some innovating of their own. Simply put, tech and finance are better together.