{"id":8899,"date":"2025-03-15T21:18:44","date_gmt":"2025-03-15T21:18:44","guid":{"rendered":"https:\/\/icv-controlling.com\/blog\/the-transformative-power-of-genai-in-finance-an-outlook-for-2030\/"},"modified":"2025-04-13T17:14:21","modified_gmt":"2025-04-13T17:14:21","slug":"the-transformative-power-of-genai-in-finance-an-outlook-for-2030","status":"publish","type":"blog","link":"https:\/\/icv-controlling.com\/en\/blog\/the-transformative-power-of-genai-in-finance-an-outlook-for-2030\/","title":{"rendered":"The transformative power of GenAI in finance &#8211; an outlook for 2030"},"content":{"rendered":"<section id=\"acf-block-67cc4c5105c60\" class=\"image-module bg-bg-default text-text-default dark:!bg-dark dark:!text-white  \">\n  <div class=\"max-w-screen-2xl spacing-px mx-auto\">\n    <div class=\"content-top max-w-3xl align-left \">\n          <\/div>\n  <\/div>\n      <div class=\"image-module__container mx-auto max-w-screen-fhd spacing-px \">\n      <div class=\"image-module__image\"> <img loading=\"lazy\" decoding=\"async\" width=\"1528\" height=\"600\" src=\"https:\/\/icv-controlling.com\/wp-content\/uploads\/2025\/03\/Hackett-Group-Studie-Dezember-2024-ICV-Blog-1.jpg\" class=\"z-0 mx-auto !object-contain !h-full !w-auto\" alt=\"\" srcset=\"https:\/\/icv-controlling.com\/wp-content\/uploads\/2025\/03\/Hackett-Group-Studie-Dezember-2024-ICV-Blog-1.jpg 1528w, https:\/\/icv-controlling.com\/wp-content\/uploads\/2025\/03\/Hackett-Group-Studie-Dezember-2024-ICV-Blog-1-300x118.jpg 300w, https:\/\/icv-controlling.com\/wp-content\/uploads\/2025\/03\/Hackett-Group-Studie-Dezember-2024-ICV-Blog-1-1024x402.jpg 1024w, https:\/\/icv-controlling.com\/wp-content\/uploads\/2025\/03\/Hackett-Group-Studie-Dezember-2024-ICV-Blog-1-768x302.jpg 768w, https:\/\/icv-controlling.com\/wp-content\/uploads\/2025\/03\/Hackett-Group-Studie-Dezember-2024-ICV-Blog-1-1240x487.jpg 1240w\" sizes=\"(max-width: 1528px) 100vw, 1528px\" \/><\/div> \n          <\/div>\n  <\/section><section id=\"acf-block-67cc4c5105ee6\" class=\"text-module bg-bg-light text-text-default  dark:!bg-dark dark:!text-white\">\n  <div class=\"max-w-screen-2xl spacing-px mx-auto spacing-py\">\n          <div class=\"typo-body text-element max-w-3xl align-left \">\n        <p><span data-contrast=\"auto\">In a world increasingly characterized by Artificial Intelligence (AI), Generative Artificial Intelligence (GenAI) plays a central role in the transformation of finance. Based on current studies and forecasts, it is clear that organizations that fully integrate GenAI can achieve significant competitive advantages. But what exactly does this mean for Digital World Class\u00ae (DWC) finance organizations? A look at the data and developments provides some insight.   <\/span><span data-ccp-props=\"{}\"> <\/span><\/p>\n<ol>\n<li><b><span data-contrast=\"auto\">Current achievements: Innovation and efficiency<\/span><\/b><\/li>\n<\/ol>\n<p><span data-contrast=\"auto\">According to a recent study by The Hackett Group, DWC finance organizations operate with up to 47% lower processing costs and require 50% less permanent staff compared to average competitors. This top performance is the result of strategic technology investments and the use of GenAI and other modern technologies such as smart automation and predictive analytics. <\/span><span data-ccp-props=\"{}\"> <\/span><\/p>\n<p><span data-contrast=\"auto\">A key advantage is the automation of processes:<\/span><span data-ccp-props=\"{}\"> <\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"multilevel\"}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Customer-to-cash processes<\/span><\/b><span data-contrast=\"auto\">59 % of these processes are fully automated.<\/span><span data-ccp-props=\"{}\"> <\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"multilevel\"}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Electronic invoices<\/span><\/b><span data-contrast=\"auto\">95% of invoices are created electronically, which minimizes error rates and increases efficiency.<\/span><span data-ccp-props=\"{}\"> <\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"multilevel\"}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Cash flow optimization<\/span><\/b><span data-contrast=\"auto\">Payment periods are extended by up to 11%, while incoming payments are accelerated by 48%.<\/span><span data-ccp-props=\"{}\"> <\/span><\/li>\n<\/ul>\n<ol start=\"2\">\n<li><b><span data-contrast=\"auto\">Forecast for 2030: even greater differences due to GenAI<\/span><\/b><\/li>\n<\/ol>\n<p><span data-contrast=\"auto\">The Hackett Group&#8217;s latest forecast shows that by 2030, DWC organizations using GenAI can dramatically increase their cost efficiency and productivity. A comparison of cost reductions between peers and DWCs shows significant differences: <\/span><span data-ccp-props=\"{}\"> <\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"multilevel\"}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Organizations without GenAI will continue to struggle with higher costs.<\/span><span data-ccp-props=\"{}\"> <\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"multilevel\"}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">DWC Finance organizations benefit from an average cost reduction of up to 42%.<\/span><span data-ccp-props=\"{}\"> <\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Another milestone is the expected adoption rate of GenAI. While around 70% of DWC organizations will use GenAI by 2027, this rate will rise to almost 100% by 2030. <\/span><span data-ccp-props=\"{}\"> <\/span><\/p>\n<ol start=\"3\">\n<li><b><span data-contrast=\"auto\">The importance of standardized data and processes<\/span><\/b><\/li>\n<\/ol>\n<p><span data-contrast=\"auto\">The study results underline that standardized data and coding definitions are crucial for increasing efficiency. DWC Finance teams use 19% more standardized data than their peers, reducing complexity and improving data quality. This standardization forms the basis for the effective use of GenAI.  <\/span><span data-ccp-props=\"{}\"> <\/span><\/p>\n<ol start=\"4\">\n<li><b><span data-contrast=\"auto\">Challenges and recommendations for action<\/span><\/b><\/li>\n<\/ol>\n<p><span data-contrast=\"auto\">Despite the many advantages, there are challenges when integrating GenAI:<\/span><span data-ccp-props=\"{}\"> <\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"multilevel\"}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Technological infrastructure<\/span><\/b><span data-contrast=\"auto\">Organizations need to invest in IT architectures that are scalable and future-proof.<\/span><span data-ccp-props=\"{}\"> <\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"multilevel\"}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Change management<\/span><\/b><span data-contrast=\"auto\">The transition to AI-supported processes requires a rethink within organizations.<\/span><span data-ccp-props=\"{}\"> <\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">For companies that want to master these challenges, it is advisable to focus on automation and AI at an early stage. DWC organizations have already embarked on this path by prioritizing investments in AI technologies and setting innovative benchmarks. <\/span><span data-ccp-props=\"{}\"> <\/span><\/p>\n<ol start=\"5\">\n<li><b><span data-contrast=\"auto\">Conclusion: The future is now<\/span><\/b><\/li>\n<\/ol>\n<p><span data-contrast=\"auto\">The Hackett Group&#8217;s findings impressively demonstrate that the strategic use of GenAI goes far beyond short-term efficiency gains. It opens up new opportunities for value creation and innovation that will shape the financial sector in the long term. Companies that adapt these technologies in good time not only secure a competitive advantage, but also actively shape the future of their industry.  <\/span><span data-ccp-props=\"{}\"> <\/span><\/p>\n<p><span data-contrast=\"auto\">The path to a GenAI-driven financial organization is not a sprint, but a marathon &#8211; a marathon that starts now.<\/span><span data-ccp-props=\"{}\"> <\/span><\/p>\n      <\/div>\n          <div class=\"flex flex-wrap w-full gap-2 lg:gap-4 md:mt-lg mt-md \">\n                <a target=\"\" href=\"https:\/\/www.thehackettgroup.com\/insights\/digital-world-class-procurement-2407\/?leadSource=News+Release&#038;lead_source=News+Release&#038;leadSourceDescription=HCKT+Download%3A+Digital+World+Class+24Q2+PROC+-+NR&#038;LeadSourceDescription=HCKT+Download%3A+Digital+World+Class+24Q2+PROC+-+NR&#038;utm_source=news-release&#038;utm_medium=news-release&#038;utm_id=digital-world-class-proc-24q2\" class=\"btn-secondary \" rel=\"noopener\">\n            To the study                    <\/a>\n              <\/div>\n      <\/div>\n<\/section>","protected":false},"template":"","blog-category":[],"blog-tags":[],"class_list":["post-8899","blog","type-blog","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/icv-controlling.com\/en\/wp-json\/wp\/v2\/blog\/8899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icv-controlling.com\/en\/wp-json\/wp\/v2\/blog"}],"about":[{"href":"https:\/\/icv-controlling.com\/en\/wp-json\/wp\/v2\/types\/blog"}],"version-history":[{"count":0,"href":"https:\/\/icv-controlling.com\/en\/wp-json\/wp\/v2\/blog\/8899\/revisions"}],"wp:attachment":[{"href":"https:\/\/icv-controlling.com\/en\/wp-json\/wp\/v2\/media?parent=8899"}],"wp:term":[{"taxonomy":"blog-category","embeddable":true,"href":"https:\/\/icv-controlling.com\/en\/wp-json\/wp\/v2\/blog-category?post=8899"},{"taxonomy":"blog-tags","embeddable":true,"href":"https:\/\/icv-controlling.com\/en\/wp-json\/wp\/v2\/blog-tags?post=8899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}