Webcast Summary

It is hard today to open any business publication without reading about how Artificial Intelligence (AI) can transform how we work. The truth is, AI can change how you do business, but it’s not just about automating what you do today; it’s about improving the process. You can rethink your approach to financial risk management to achieve quick wins that are faster and more accurate.

When applied the right way into your processes, AI allows companies to improve risk management in areas like travel and expense (T&E), purchase cards, and procure-to-pay.

This webcast focuses on best practices for rolling out AI in finance to automate risk identification and prevention. Jim Kirkpatrick, VP of Corporate Finance at Shaw Industries, the world’s largest carpet manufacturer, presents his experience with implementing AI solutions. Shaw needed to replace the existing labor-intensive, mostly manual in-house approach with something more automated. Jim discusses the challenges he faced, solutions implemented, and results achieved to help you learn from his experience.

The key takeaways from this webcast include:

  • Better understanding of AI and its impact on your business
  • Best practices for controlling risk in spend programs
  • How AI can do the heavy lifting in the expense report, accounts payable and purchase card audit process
  • How to quickly identify root causes of errors
  • Rapid ROI

About the Speakers

Jim Kirkpatrick, Vice President-Corporate Finance, Shaw Industries Group, Inc

Jim_Kirkpatrick_Shaw.jpgJim is the Vice President of Corporate Finance for Shaw Industries Group, Inc.  In this role, Jim directs all of the Accounting, Finance, Internal Audit and Treasury organizations.  In addition, Jim has overall responsibility for Spectra Contract Flooring which is Shaw’s subsidiary engaged in selling and installing commercial floorcovering.  Since joining Shaw in 1996, Jim has held several positions including Director of Contract Finance of Shaw, Treasurer of Spectra Contract Flooring, Director of Internal Audit of Shaw and Assistant Controller of Shaw. 

Patrick Taylor, Chief Executive Officer, Oversight Systems

Patrick_Taylor.jpgPatrick Taylor is an authority in the convergence of business analytics, information security and the implementation of technology to boost organizational performance. Patrick recognized that most IT-security and financial-system controls focus on user access and role management, but don't address how to convert ERP, CRM and other financial transaction resources into plain-language, actionable insights. After speaking with executives from across the country, Patrick launched Oversight Systems to pioneer the concepts and technology for continuous transaction analytics.

Chris Schmidt, Senior Editor, CFO Publishing (Moderator)

chris_schmidt_MODERATOR.jpgChris Schmidt is the senior editor with CFO Publishing. Chris conducts research studies and writes on a wide range of financial topics. He also oversees the development of custom, research-focused Webcasts and other tailored outreach to senior finance executives.

Prior to joining CFO, Chris served as the director of corporate communications for Oliver Wyman, a global strategy consultancy. For more than a decade he led key marketing, PR, leadership communications, and alumni initiatives for that firm. Chris is a graduate of Colby College. He is based in Boston.

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