It all started with a small anomaly. What looked like a routine invoice approval ended in a $50,000 loss.
An invoice didn’t match a PO. A supplier’s name was altered. A payment was approved automatically. It seemed like nothing was amiss—until it was too late. By the time someone spotted the error, the funds were gone. So was the “vendor.”
Incidents like this are what keep CIOs up at night. They’re rarely the result of a finance team’s mistake. They’re a systems issue.Finance teams operate in intense environments, with high regulatory pressures, smarter fraudsters, and limited resources. Adopting finance AI can mean the difference between catching that altered supplier name before sending payment and having to explain to the board how the money disappeared. No longer a tech trend, AI has the ability to act as a critical layer of protection, insight, and foresight.
For CIOs, this presents both a technical opportunity and a leadership moment.
How AI is helping CIOs transform finance
CFOs and controllers are constantly under pressure to achieve more with limited resources.
They’re expected to ensure compliance with regulations such as SOX, GDPR, ESG, DORA. In some cases, they must close the books in days, not weeks. They should be able to proactively prevent fraud. And their now-real-time financial reporting must always be accurate.
But traditional automation systems weren’t built for this pace or complexity. The need for manual reviews, siloed tools, and reactive controls slow down workflows and invite risk.
That’s why CIOs are stepping in. They’re partnering with CFOs to maintain existing systems, and support Finance in developing new ones that are smarter, safer, more efficient, and more adaptive.
CIOs understand that transformation doesn't happen overnight. So what can be done today to start teams down the road toward smarter finance operations? From our experience working with enterprise companies to implement AI initiatives, here are the three areas are where CIO leadership matters most.
Data readiness: Finance AI can only perform as well as the data it is presented with. Make sure your systems are structured, connected, and prepared for real-time decision-making.
Security and trust: Finance AI works with sensitive data. Choose solutions that meet enterprise-grade security standards and provide clear, auditable decisions to support them.
Scalable pilots: Start small. Identify a high-risk process, like invoice processing or expense audit. Implement AI, evaluate the results, then scale its use.
CIOs have a pivotal role to play in making AI part of how finance functions: with intention, transparency, and a long-term strategy.
Where AI is already delivering results
Among industry leaders, AI is already making a meaningful impact. It reviews every transaction, rather than random samples, and flags anomalies before they escalate. And it prioritizes invoices based on risk and policy, rather than value.
Although AI’s ability to perform accurate fraud checks and faster approvals is important, what really sets it apart from other solutions is its ability to see around corners.
At AppZen, we’ve seen finance teams use AI to:
- Catch duplicate or suspicious payments in real time
- Reduce the burden of manual audits
- Spot risks early and act on insights before issues arise
- Strengthen compliance with consistent, policy-based decisions
- Free AP and T&E teams to focus on high-value exceptions
With seamless integration into existing ERP, AP, and procurement platforms, these systems also don’t require a complete rebuild. This speeds up processes and reduces resistance to change.
The takeaway for CIOs
In the hands of the right leaders, AI serves as a powerful edge. For CIOs, it presents an opportunity to strengthen finance operations, build trust in data, scale insight, and move from risk mitigation to real-time confidence.
The pressure is real. The technology is ready. The moment to act is now. Start building a smarter finance function today.
Take the next step toward smarter finance operations. Explore how AppZen supports CIOs in driving secure, intelligent automation. Contact us today for a live demo to see how AppZen fits your organization.
