AI can ease reporting burden, but governance is key

Accurate reporting of financial figures can become a burden that employees will increasingly turn to artificial intelligence (AI) to ease. Yet, it's crucial that information is held securely and only presented in a manner that accurately reflects the organisation’s position, delegates at the recent 2025 Finance Indaba heard.

Graeme Fleming, industry principal at Workiva, noted that “AI is everywhere” and that organisations are “a little bit naive if they think that nobody is using AI for work”, as it speeds up processes and makes it possible to complete tasks more efficiently.

Benjamin Joannou, CEO of Bastion Group, highlighted the staggering scale of modern data generation, noting that the amount of data produced daily now equals that generated throughout the entire 20th century.

It is critical that corporate data is structured in ways AI can interpret correctly, said Benjamin. He explained that preventing AI systems from generating false or misleading narratives is essential, as companies must ensure “your story is the story that’s being told” rather than a “hallucination” or distorted version produced elsewhere.

This means, as Graeme put it, that AI must be adopted in a way that ensures governance and security, including knowing where data is stored, how it is used, and ensuring models are trustworthy.

“Ultimately, you want to be sure that the financial data that you’re working on is only released when you want it to be, telling the story that you want to be told,” Graeme said.

Disconnected tools

In addition, the data being published must be trustworthy, said Ed Kennedy, solutions manager financial services at Workiva. He explained that businesses must reach multiple stakeholders, each with distinct requirements and expectations, when they publish data.

“The data underpinning your story has to be extremely well-trusted,” Ed said.

The burden arises when organisations use disconnected tools and processes to compile this information, said Ed. “You have highly trained accountants spending 17 hours a day on a spreadsheet wondering about their life decisions,” he noted, adding that inconsistencies between reports can create panic among boards and lead to mistrust in internal data.

Tassin Benn, GM of investor relations at MTN, said the operator produces about 10 reports every reporting period, which carries a “significant” burden of ensuring they are accurate, well-presented and effectively communicate the company’s message to a wide range of stakeholders, including those focused on finance and ESG.

As digital innovation remains a core part of MTN’s strategy, the operator seeks to align with emerging technologies such as AI to support the creation and management of its reporting processes, said Tassin.

Agility key

Ed identified three key areas businesses need to address to move from burden to breakthrough when it comes to reporting: efficiency, transparency, and agility.

Efficiency means removing manual, fragmented processes; transparency ensures everyone is confident in how information is produced and shared; and agility allows a business to adapt quickly to change, whether launching new products, entering new markets, or managing acquisitions, Ed explained.

Taonga Gwisai Mhango, senior FVM of group reporting, insights and analytics at Standard Bank, provided a tangible example of transformation after moving to an AI-enabled platform that allowed real-time updates and direct publishing of reports.

This shift created “a more sustainable way of doing things that is human-centred”, saving more than 100 hours of overtime in a six-week period, while also enabling staff to “go home and spend time with their families” instead of working past 10 pm or on weekends, said Taonga.

At the same time, Taonga noted that the CFO and board commended the outcome, noting no visible difference in the investor booklet's quality.

“We see this burden of reporting that our clients go through,” said Benjamin.