When CFOs hear the term “AI,” many envision a future straight out of science fiction—one where machines handle all the tedious work, leaving us with boundless free time. It’s a vision fueled by both Hollywood and overpromises from the tech industry. But reality is far more grounded. For CFOs, the priority isn’t fantasizing about a distant, automated future; it’s ensuring the fundamental processes—Procure to Pay, Order to Cash, and Revenue to Report—are optimized to guarantee safe, profitable operations month after month.
Yes, AI holds immense potential, but delivering tangible value from AI investments is where many organizations falter. The solution lies in a dual approach: a strategic top-down framework paired with practical, bottom-up experimentation. Both are crucial for fostering institutional knowledge and scaling AI initiatives that actually drive business outcomes.
Top-Down AI Strategy: Laying the Foundation
A top-down strategy provides clarity. It defines the organization’s goals, sets expectations, establishes governance, and ensures alignment across the enterprise. Without this, AI projects often fall prey to scope creep or misalignment with core business objectives. CFOs need to ensure they’re building a strong strategic foundation first, so AI investments are targeted and measurable.
Bottom-Up AI: Learning by Doing
However, strategy alone isn’t enough. I advise my clients to start small and build AI knowledge from the ground up. Early AI tools were embedded in everyday systems, and I encouraged my clients to leverage them for simple, low-stakes tasks—automating emails or managing calendars, for example. The goal was to get hands-on experience with both the capabilities and limitations of AI, long before tackling more complex business problems.
As confidence grows, so does the ambition to solve larger challenges. Here’s an example that illustrates this perfectly:
Case Study 1: Transforming Contract Management with AI
A large municipality was struggling to manage a vast array of service contracts. They lacked a robust Contract Lifecycle Management (CLM) system, and while a formal CLM project was already in progress, we initiated a small AI experiment to demonstrate immediate value. We used a Retrieval-Augmented Generation (RAG) model to analyze a sample of 100 contracts. The AI quickly surfaced valuable insights. We discovered that different departments had agreements with the same vendor but had experienced significant discrepancies in critical contract terms, such as Events of Default and Cure Periods.
By concentrating these findings in a centralized, accessible system, the organization improved its contracting processes almost immediately, streamlining negotiations and creating more effective contracts. This initial experiment demonstrated the power of AI in contract management and laid the groundwork for future projects, such as linking contract performance, invoicing, and contract renewals for a clearer view of vendor performance.
Case Study 2: Enhancing the Bidding Process in Manufacturing
A manufacturing client faced challenges with their bidding process. Multiple subsidiaries bid on projects independently, with little collaboration or post-mortem analysis on lost bids. To address this, we applied a bottom-up AI approach to a subset of the company's bidding data. By gathering information on how bids were prepared, who was responsible, and what the pricing expectations were—along with a complete dataset on lost bids—we eliminated survivor bias, a critical step often overlooked in decision-making.
Feeding this data into a RAG model connected to a large language model (LLM) revealed clear inefficiencies in the bidding process. The AI identified bids that should have been avoided and areas for improvement in those pursued. This pilot project not only provided immediate insights but also laid the foundation for more advanced AI applications as the company scales its data collection.
The Dual Approach: Why It Works
Both of these examples underscore the importance of a bottom-up AI strategy alongside a top-down approach. By tackling smaller, focused problems early on, organizations can gain valuable insights quickly, often in a matter of weeks, not months or years. These rapid wins build momentum and inform the larger AI strategy, allowing for more confident and substantial investments.
For CFOs and senior leadership, the takeaway is clear: a balanced AI approach, one that marries a well-defined strategy with hands-on experimentation, is essential to realizing the true potential of AI in driving business value. These early-stage projects don’t just deliver quick wins—they pave the way for more sophisticated applications that will shape the future of your business.
AI is no longer about far-off promises; it’s about delivering results today.
Assure's mantra of "getting things done" underscores its commitment to efficiency and excellence. The company offers a diverse range of services, including Bids and Contracts, Legal, Offshoring, Data Preparedness for AI, and Technology Optimization and Rationalization for P2P, O2C, and R2R. Their goal is to empower businesses to "Go Assured with us," by utilizing data, technology, and strategic insights to prepare them for the future. What sets Assure apart from other consulting firms in the Texas triangle is its unique approach to problem-solving. Instead of providing cookie-cutter solutions, Assure takes the time to understand each client's specific needs and challenges before crafting a customized strategy. This tailored approach ensures that clients receive solutions that are not only effective but also sustainable in the long run.
The team at Assure is not just focused on solving immediate issues but also on preparing their clients for the future. With a strong emphasis on data readiness for AI, Assure helps companies harness the power of technology to drive growth and innovation. By optimizing and streamlining processes, Assure ensures that their clients are well-equipped to adapt to the rapidly changing business landscape.
Founded on a vision of filling a gap in the market, Assure has quickly established itself as a trusted partner for businesses looking to navigate the complexities of modern-day operations. Their commitment to excellence, efficiency, and innovation sets them apart as a leader in the consulting industry in the Texas triangle. Partnering with Assure is not just about solving problems – it's about transforming businesses and preparing them for success in the digital age.
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