The AI Tipping Point in Finance: CFOs Demand ROI as AI Adoption Grows

Artificial Intelligence (AI) in finance is at a critical juncture, with four out of five Chief Financial Officers (78%) planning to boost their AI investments over the next 12 to 18 months. Despite this eagerness, a significant barrier remains: many CFOs admit they “don’t know where to start,” as highlighted in a new global survey commissioned by Basware and conducted by Financial Times Longitude.

Invoice automation company Basware and Financial Times Longitude surveyed 400 global CFOs and finance leaders. For the full report, visit here

The report, AI to ROI, surveyed 400 global CFOs and finance leaders, revealing an optimistic outlook for AI but also a strong demand for accountability. Half of the respondents (50%) stated they would cut AI investments if they don’t see measurable returns within a year, creating a narrow window to demonstrate impact.

Investment Uncertainty Holds CFOs Back

AI adoption in finance is gaining momentum, yet many finance leaders feel uncertain about where to focus their efforts. For 41% of them, this lack of clarity is preventing AI from becoming a strategic priority. The economic uncertainty further complicates the landscape, with 32% of CFOs citing cost efficiency as their top priority in finance transformation.

The report highlights that this challenge is not unique to mid-sized firms; even tech giants like Meta face similar hurdles. Meta recently adjusted its stock price by $5.1 billion over concerns about its ability to sustain its accelerated AI investment. Although companies like Meta have resources to recover, achieving rapid ROI is critical for other organizations in today’s economic climate.

The Need for a Clear AI Strategy

While many CFOs see AI as a way to reduce manual tasks and free up staff for more strategic work, the lack of a clear AI strategy is a major stumbling block. The survey found that 70% of finance leaders want AI to assist with administrative tasks, while 75% believe AI can help teams focus on strategic activities, including compliance with e-invoicing regulations.

However, 40% of finance leaders cited inadequate change management as an obstacle, and 31% reported a lack of strategic direction for the future of finance. Perttu Nihti, Chief Product Officer at Basware, emphasized the importance of starting with high-impact AI projects that can deliver quantifiable ROI: “The office of the CFO oversees a wide array of functions, from regulatory compliance to cash flow management. Focusing on areas where AI can quickly demonstrate value—such as error reduction and fraud detection—will justify broader AI investment.”

Achieving Tangible Results with AI in Accounts Payable

For CFOs prioritizing AI in accounts payable (AP), the results are promising. Organizations that have embraced AI for AP processes report an impressive 136% return on investment, saving over $1.36 million for every $1 million spent over three years. Benefits include reducing errors, accelerating fraud detection, cutting operational costs, and enhancing regulatory compliance.

One success story from the survey involves Billerud, a global paper and packaging manufacturer. Billerud’s accounts payable team was initially overwhelmed with manual invoice processing. To address this, they implemented Basware’s SmartPDF AI Instant Learning solution, which uses AI and text extraction to convert PDF invoices into e-invoices. This solution enabled Billerud to automatically validate over 90% of its invoices, reducing the need for manual validation and saving several hours of work each day. According to Jesper Persson, Business Developer at Billerud, “The efficiency gains we achieved translated directly into tangible cost savings, paving the way for a rapid return on investment within just a few months.”

AI Adoption: A Path to Strategic Transformation

The findings in Basware’s AI to ROI report underscore that finance leaders can achieve significant ROI by implementing AI strategically. For the 50% of CFOs who demand clear ROI or will reconsider their AI investments, identifying high-impact areas like AP automation can yield measurable returns in months, providing a blueprint for broader AI adoption in finance.