From curiosity to capability: How finance functions build Generative AI capability
From curiosity to capability: How finance functions build Generative AI capability
Original article provided by BDO Australia
Authors: Fahim Khondaker, BDO Partner, Digital and Professor at UNSW
Nabil Hossain, Partner, CFO Advisory
Generative Artificial Intelligence (GenAI) has moved rapidly from experimentation to expectation. What began as a tool for drafting and analysis is now reshaping how finance functions operate, govern risk and support decision-making.
BDO Partner Fahim Khondaker spoke at a recent Canberra event following an invitation from Chartered Accountants Australia and New Zealand (CA ANZ). He highlighted that the question is no longer whether GenAI can improve productivity, but whether organisations are building the capability required to use it responsibly and at scale.
Augmenting judgement, not replacing it
Much of the early focus on GenAI has centred on efficiency gains. In the finance function, these gains are real use cases, including faster forecasting, automated reconciliations, streamlined reporting and improved access to information.
However, efficiency alone does not deliver sustainable return on investment (ROI). GenAI is most powerful when it supports human judgement: understanding complex information, testing scenarios, developing insights and improving the quality of decisions.
This creates a new expectation for finance professionals. As GenAI takes on more routine analysis and drafting, humans are required to add greater value through interpretation, context, governance and accountability. In practice, GenAI raises the bar for human expertise rather than lowering it.
Shifting from use cases to value chains
Many organisations begin their GenAI journey by identifying individual use cases. While useful, this approach can result in fragmented initiatives and limited returns.
A more effective lens is to assess value chains across the finance function. When GenAI is applied across planning, reporting, procurement, payments, grants administration, payroll and assurance, it becomes an enabler rather than a standalone tool.
Viewed this way, GenAI supports:
Governance as an enabler of GenAI adoption
Concerns around privacy, confidentiality, bias and regulatory compliance often slow GenAI adoption. The absence of clear governance is the greatest risk.
Effective GenAI adoption requires:
Clear accountability for use and decision-making
The risk of inaction
While much attention is given to the risks of adopting GenAI, few organisations measure the risk of delaying development.
Organisations that start earlier build knowledge faster, developing better prompts, stronger judgement and more effective integration between people, data and systems. In this context, doing nothing is not a neutral position. It is a strategic choice that carries its own cost.
A change programme, not a technology deployment
GenAI is not a technology project. It is a change programme that affects how work is performed, how value is delivered and how expertise is demonstrated.
Organisations that succeed with GenAI will be those that:
How BDO can help
BDO Indonesia’s digital and advisory teams work alongside private and public sector organisations to move beyond experimentation and embed GenAI where it delivers real value. We help build capability and confidence across finance teams and translate them into practical outcomes.
Please reach out to our partners in BDO in Indonesia for further information.
Authors: Fahim Khondaker, BDO Partner, Digital and Professor at UNSW
Nabil Hossain, Partner, CFO Advisory
Generative Artificial Intelligence (GenAI) has moved rapidly from experimentation to expectation. What began as a tool for drafting and analysis is now reshaping how finance functions operate, govern risk and support decision-making.
BDO Partner Fahim Khondaker spoke at a recent Canberra event following an invitation from Chartered Accountants Australia and New Zealand (CA ANZ). He highlighted that the question is no longer whether GenAI can improve productivity, but whether organisations are building the capability required to use it responsibly and at scale.
Augmenting judgement, not replacing it
Much of the early focus on GenAI has centred on efficiency gains. In the finance function, these gains are real use cases, including faster forecasting, automated reconciliations, streamlined reporting and improved access to information.
However, efficiency alone does not deliver sustainable return on investment (ROI). GenAI is most powerful when it supports human judgement: understanding complex information, testing scenarios, developing insights and improving the quality of decisions.
This creates a new expectation for finance professionals. As GenAI takes on more routine analysis and drafting, humans are required to add greater value through interpretation, context, governance and accountability. In practice, GenAI raises the bar for human expertise rather than lowering it.
Shifting from use cases to value chains
Many organisations begin their GenAI journey by identifying individual use cases. While useful, this approach can result in fragmented initiatives and limited returns.
A more effective lens is to assess value chains across the finance function. When GenAI is applied across planning, reporting, procurement, payments, grants administration, payroll and assurance, it becomes an enabler rather than a standalone tool.
Viewed this way, GenAI supports:
- Better planning, budgeting and forecasting through modelling and scenario analysis
- Efficient management reporting
- Streamlined close and consolidation processes with improved data quality and reduced timeframes
- Strengthened control environments through continuous monitoring and anomaly detection
- Stronger audit and compliance outcomes through automated evidence gathering and risk identification.
Governance as an enabler of GenAI adoption
Concerns around privacy, confidentiality, bias and regulatory compliance often slow GenAI adoption. The absence of clear governance is the greatest risk.
Effective GenAI adoption requires:
Clear accountability for use and decision-making
- Strong data governance, including classification, access and quality
- Defined use policies and human controls
- Ongoing testing, monitoring and validation of outputs.
The risk of inaction
While much attention is given to the risks of adopting GenAI, few organisations measure the risk of delaying development.
Organisations that start earlier build knowledge faster, developing better prompts, stronger judgement and more effective integration between people, data and systems. In this context, doing nothing is not a neutral position. It is a strategic choice that carries its own cost.
A change programme, not a technology deployment
GenAI is not a technology project. It is a change programme that affects how work is performed, how value is delivered and how expertise is demonstrated.
Organisations that succeed with GenAI will be those that:
- Treat GenAI as a capability to be learned, not a tool to be installed
- Invest in people, governance and data alongside technology
- Embed GenAI into everyday workflows rather than isolated pilots
- Focus on outcomes, not novelty.
How BDO can help
BDO Indonesia’s digital and advisory teams work alongside private and public sector organisations to move beyond experimentation and embed GenAI where it delivers real value. We help build capability and confidence across finance teams and translate them into practical outcomes.
Please reach out to our partners in BDO in Indonesia for further information.