SlideShare a Scribd company logo
Interview with: Michael McRoberts –
Co-Founding Director & George
Skillin - Co-Founding Director,
Chartertech Pty Ltd
CFOs are struggling to find skilled
finance professionals while dealing with
challenges on the cost side and
additional environmental, social and
governance (ESG) reporting require-
ments, but Robotic Process Automation
(RPA) and Artificial Intelligence (AI) can
improve many finance processes and
challenges, according to Michael
McRoberts and George Skillin, Co-
Founding Directors at Chartertech Pty
Ltd.
Chartertech Pty Ltd is a sponsor
company at the marcus evans CFO
Summit 2023.
What is challenging CFOs in
Australia today? How could RPA and
AI be part of the solution?
Skillin: It is getting more and more
difficult for CFOs to find skilled finance
professionals. It is a very competitive
market, and they are struggling to
attract and retain good accountants,
systems professionals and operations
professionals. Automating repeatable
transactions that don’t need to be
processed by people anymore, would
lower overheads in a time of high
inflation.
Businesses are also challenged with
aligning cost structures to revenue and
desired profitability. Extended planning
and analysis (xP&A) is the future
approach to address antiquated
planning and analytics. CFOs can make
use of AI tools to make better informed
financial and business decisions.
Thirdly, CFOs are now expected to take
a lead with ESG reporting requirements
for external and internal stakeholders,
and compliance requirements imposed
by accounting bodies and government
for environmental reporting.
McRoberts: RPA enables organisations
and CFOs to augment their skill sets
with digital workers who can do the
work more efficiently. Removing high
value add tasks traditionally undertaken
by paid employees, and having them
done by a robotic worker does not
devalue the work humans can do. It
enables people to do higher value add
work, by removing routine tasks from
their workload. It means qualified
accountants and finance professionals
can focus their time on what can add
strategic value to their function, instead
of wasting their time on mundane tasks.
With labour costs going up, this must
become a priority.
What are the gaps in the finance
function?
McRoberts: The biggest area of focus is
business-focused analytics, the ability to
leverage data sets in enterprise
resource planning (ERP) and corporate
platforms, and to continuously convert
that to more strategic and financial
information. That is an ongoing journey
for CFOs.
We position ourselves as a chartered
accounting firm that does technology.
We take that finance skillset and overlay
operations and technologies to drive
better management and operational
information. CFOs are always trying to
do that to the best of their ability.
How do your solutions stand out
from others?
Skillin: We are not just an RPA service
provider. We have a CFO advisory
practice that includes people in very
senior levels who understand finance
and governance. We have systems
integration teams who deal specifically
with ERP platforms that CFOs use. And
automation professionals who can focus
on an end-to-end outcome rather than
just a specific technology aligned to our
service offering.
What risks and opportunities should
CFOs prepare their organisations
for?
McRoberts: Retention of talent is going
to be key for CFOs. In terms of
technology advancements, we are
seeing application risks to security
environments that continue to change
over time, making them difficult to deal
with from a threat perspective. From a
governance perspective we are seeing
increased calls for more corporate
accountability. A lot of that can have
valuable input from the CFO function.
In terms of opportunities, the better use
of technology can create excitement in
finance professionals and the desire to
expand their existing financial skill sets
into other areas. Many people enjoy
building processes that can improve
their personal and organisational
performance.
We are starting to see more use of large-
scale data science platforms with
machine learning and AI infused
technologies, which can crunch larger
amounts of data and draw more
powerful information. The tools we have
as accountants are becoming more
powerful. So we have started seeing
many opportunities with these
technologies.
Any final words of advice?
McRoberts: It is important to play and
experiment with new and emerging
technologies. They do not have to be
large-scale experiments. Work with a
data science professional to develop a
better pattern of analysing information
with more advanced platforms and
statistical techniques. CFOs have the
ability to shape organisations and if they
choose to engage with technology even
in a small way, the finance team can
use those experiences to better the
profession.
With labour
costs going up,
this must become
a priority
The Role that RPA and AI Can Play in the Finance Function
The Finance Network –
marcus evans Summits group
delivers peer-to-peer information
on strategic matters, professional
trends and breakthrough
innovations.
Please note that the Summit is a
closed business event and the
number of participants strictly
limited.
About the CFO Summit 2023
The CFO Summit is an invitation-only, premium forum bringing together leading
finance executives and innovative solution providers. The summit’s content is
aligned with key CFO challenges and interests, relevant market developments, and
practical and progressive ideas and strategies adopted by successful pioneers.
www.march23.cfo-anz.com
Contact
Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division
Tel: + 357 22 849 313
Email: press@marcusevanscy.com
All rights reserved. The above content may be republished or reproduced. Kindly
inform us by sending an email to press@marcusevanscy.com
About Chartertech Pty Ltd
Chartertech is a dynamic Canberra-based advisory and consulting firm established in early 2017. We are a registered Chartered
Accountants Australia and New Zealand (CA ANZ) organisation. Our team of more than 140 consultants, accountants and technical
experts has extensive experience working with Australian government departments and agencies, as well as non-government
organisations. Chartertech’s team of consultants operate across six capital cities, with corporate offices in Canberra, Sydney,
Melbourne, Brisbane, and Hobart.
www.chartertech.com.au
About marcus evans Summits
marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss
strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to
individually tailor their schedules of keynote presentations, case studies, roundtables and one-to-one business meetings.
For more information, please visit: www.marcusevans.com
Upcoming Events
CFO Summit (North America) - www.may23.cfosummits.com
Chief Procurement Officer Summit (North America) - www.may23.cpo-summit.com
National Healthcare CFO Summit (North America) - www.may23.nhcfosummit.com
To view the web version of this interview, please click here:
http://events.marcusevans-events.com/cfo2023-michael-mcroberts-george-skillin

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The Role that RPA and AI Can Play in the Finance Function - Michael McRoberts & George Skillin, Chartertech Pty Ltd

  • 1. Interview with: Michael McRoberts – Co-Founding Director & George Skillin - Co-Founding Director, Chartertech Pty Ltd CFOs are struggling to find skilled finance professionals while dealing with challenges on the cost side and additional environmental, social and governance (ESG) reporting require- ments, but Robotic Process Automation (RPA) and Artificial Intelligence (AI) can improve many finance processes and challenges, according to Michael McRoberts and George Skillin, Co- Founding Directors at Chartertech Pty Ltd. Chartertech Pty Ltd is a sponsor company at the marcus evans CFO Summit 2023. What is challenging CFOs in Australia today? How could RPA and AI be part of the solution? Skillin: It is getting more and more difficult for CFOs to find skilled finance professionals. It is a very competitive market, and they are struggling to attract and retain good accountants, systems professionals and operations professionals. Automating repeatable transactions that don’t need to be processed by people anymore, would lower overheads in a time of high inflation. Businesses are also challenged with aligning cost structures to revenue and desired profitability. Extended planning and analysis (xP&A) is the future approach to address antiquated planning and analytics. CFOs can make use of AI tools to make better informed financial and business decisions. Thirdly, CFOs are now expected to take a lead with ESG reporting requirements for external and internal stakeholders, and compliance requirements imposed by accounting bodies and government for environmental reporting. McRoberts: RPA enables organisations and CFOs to augment their skill sets with digital workers who can do the work more efficiently. Removing high value add tasks traditionally undertaken by paid employees, and having them done by a robotic worker does not devalue the work humans can do. It enables people to do higher value add work, by removing routine tasks from their workload. It means qualified accountants and finance professionals can focus their time on what can add strategic value to their function, instead of wasting their time on mundane tasks. With labour costs going up, this must become a priority. What are the gaps in the finance function? McRoberts: The biggest area of focus is business-focused analytics, the ability to leverage data sets in enterprise resource planning (ERP) and corporate platforms, and to continuously convert that to more strategic and financial information. That is an ongoing journey for CFOs. We position ourselves as a chartered accounting firm that does technology. We take that finance skillset and overlay operations and technologies to drive better management and operational information. CFOs are always trying to do that to the best of their ability. How do your solutions stand out from others? Skillin: We are not just an RPA service provider. We have a CFO advisory practice that includes people in very senior levels who understand finance and governance. We have systems integration teams who deal specifically with ERP platforms that CFOs use. And automation professionals who can focus on an end-to-end outcome rather than just a specific technology aligned to our service offering. What risks and opportunities should CFOs prepare their organisations for? McRoberts: Retention of talent is going to be key for CFOs. In terms of technology advancements, we are seeing application risks to security environments that continue to change over time, making them difficult to deal with from a threat perspective. From a governance perspective we are seeing increased calls for more corporate accountability. A lot of that can have valuable input from the CFO function. In terms of opportunities, the better use of technology can create excitement in finance professionals and the desire to expand their existing financial skill sets into other areas. Many people enjoy building processes that can improve their personal and organisational performance. We are starting to see more use of large- scale data science platforms with machine learning and AI infused technologies, which can crunch larger amounts of data and draw more powerful information. The tools we have as accountants are becoming more powerful. So we have started seeing many opportunities with these technologies. Any final words of advice? McRoberts: It is important to play and experiment with new and emerging technologies. They do not have to be large-scale experiments. Work with a data science professional to develop a better pattern of analysing information with more advanced platforms and statistical techniques. CFOs have the ability to shape organisations and if they choose to engage with technology even in a small way, the finance team can use those experiences to better the profession. With labour costs going up, this must become a priority The Role that RPA and AI Can Play in the Finance Function
  • 2. The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations. Please note that the Summit is a closed business event and the number of participants strictly limited. About the CFO Summit 2023 The CFO Summit is an invitation-only, premium forum bringing together leading finance executives and innovative solution providers. The summit’s content is aligned with key CFO challenges and interests, relevant market developments, and practical and progressive ideas and strategies adopted by successful pioneers. www.march23.cfo-anz.com Contact Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division Tel: + 357 22 849 313 Email: press@marcusevanscy.com All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com About Chartertech Pty Ltd Chartertech is a dynamic Canberra-based advisory and consulting firm established in early 2017. We are a registered Chartered Accountants Australia and New Zealand (CA ANZ) organisation. Our team of more than 140 consultants, accountants and technical experts has extensive experience working with Australian government departments and agencies, as well as non-government organisations. Chartertech’s team of consultants operate across six capital cities, with corporate offices in Canberra, Sydney, Melbourne, Brisbane, and Hobart. www.chartertech.com.au About marcus evans Summits marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-to-one business meetings. For more information, please visit: www.marcusevans.com Upcoming Events CFO Summit (North America) - www.may23.cfosummits.com Chief Procurement Officer Summit (North America) - www.may23.cpo-summit.com National Healthcare CFO Summit (North America) - www.may23.nhcfosummit.com To view the web version of this interview, please click here: http://events.marcusevans-events.com/cfo2023-michael-mcroberts-george-skillin