Priya Patel
TLDR:
In a webinar hosted by Charity Digital, Darren Cran, COO at AccountsIQ, discusses how charities can use digital finance tools to enhance decision-making, automate processes, and harness the power of artificial intelligence (AI). Cran argues that digital finance is more than just automation and that real-time, predictive data insights can help finance leaders become opportunity spotters and make better decisions on resource allocation, cost management, and strategic investments.
Darren Cran, Chief Operating Officer at AccountsIQ, shared his insights on how charities can take their digital finance capabilities to the next level in a webinar hosted by Charity Digital.
Cran began by acknowledging the difficult times charities have faced in recent years, with uncertain finances and the cost-of-living crisis. However, he noted that there are signs of recovery in 2024, and charities should now focus on applying the lessons they have learned to the future.
One key area of focus for charities is the use of data to drive strategic decision-making and further impact. By sharing the right data with the right people at the right time, finance leaders can go beyond simply solving problems and become opportunity and trend spotters.
Cran emphasized the importance of cross-pollinating ideas from diverse influences, perspectives, and observations across an organization. This approach can lead to better decisions on everything from cost management to resource allocation and strategic investments.
Automation is a key component of digital finance, but Cran argued that it is just the start. Once a charity has built a foundation of automation, the next chapter involves the emergence of more impactful transformations.
In this next chapter, finance and the wider organization can be empowered with real-time, predictive data insights. This allows charities to enhance their decision-making with detailed, transparent data and become more than just problem solvers. The use of AI is a notable part of this transformation.
During the webinar, attendees learned practical ways to improve automation within their organizations and enable time and cost savings. They also received an introduction to AI and learned about its emerging role in finance functions.
Cran’s presentation highlighted the potential of digital finance for charities, emphasizing the importance of using data to generate insights, enhance decision-making, and drive further impact. As the sector continues to recover, charities will need to embrace digital tools and technologies to ensure their future success.
