• Written by Muhammed Abdulla NC, CEO

A finance manager reviews the latest budget report, wondering how the numbers will hold up when the next round of invoices is processed, and considers how AsscherAi can help answer questions about the organisation's financial data in real time. Before deploying such a system, several questions need to be settled in procurement, in writing, to ensure the security and privacy of financial data.

Processing and storage locations

The first question to settle is where the financial data will be processed and stored, and whether the system will train any models on this data. This is crucial because financial data is often sensitive and subject to strict regulations. The organisation needs to ensure that the data is handled in accordance with these regulations and that access is restricted to authorised personnel. The purchase order table, general ledger, and budget data all need to be protected from unauthorised access.

This requires careful consideration of the system's architecture and the location of the servers that will store and process the data. The organisation should also consider whether the system will use any cloud-based services and, if so, what controls are in place to ensure the security and privacy of the data. The category manager should compare the security protocols of different vendors to ensure that the chosen system meets the organisation's requirements.

Prompt injection as a data-boundary problem

Prompt injection is a potential security risk that can occur when a system is not properly configured to handle user input. In the context of AsscherAi, prompt injection refers to the ability of an unauthorised user to inject malicious prompts that can access or manipulate sensitive financial data. This is a data-boundary problem because it can allow an attacker to bypass the system's security controls and access data that they are not authorised to see.

To mitigate this risk, the organisation should ensure that the system is properly configured to validate and sanitise user input, and that access controls are in place to restrict access to sensitive data. The system should also be designed to detect and prevent prompt injection attacks, and to alert administrators if such an attack is detected. A shift supervisor can check the maintenance log to ensure that the system is properly configured and that any security updates are applied promptly.

Finance data dependencies

The finance data that AsscherAi depends on includes the general ledger, budget, open commitments, and purchase orders, as well as receivables and terms. This data is used to answer questions about the organisation's financial performance and to provide insights into areas such as variance explanations and commitment coverage. The system relies on accurate and up-to-date data to provide reliable answers, so it is essential that the data is properly maintained and updated.

The general ledger is a critical component of the system, as it provides a comprehensive view of the organisation's financial transactions. The budget data is also essential, as it provides a baseline against which actual performance can be measured. Open commitments and purchase orders are used to track the organisation's financial obligations, while receivables and terms are used to manage the organisation's cash flow. For more information on how AsscherAi can help with financial management, see our finance page.

Changes to variance explanations and budgets

AsscherAi can help to explain variances in financial performance, which can arrive after the period has closed. This can help finance managers to identify areas where costs are not being properly controlled, and to take corrective action to get back on track. The system can also provide insights into budgets that appear healthy but are actually overcommitted, which can help to prevent financial problems down the line.

By providing real-time answers to questions about financial data, AsscherAi can help finance managers to make more informed decisions and to take proactive steps to manage the organisation's financial performance. This can help to reduce the risk of financial problems and to improve the overall financial health of the organisation. The category manager can use AsscherAi to compare the financial performance of different suppliers and to identify areas where costs can be reduced.

Measurement and evaluation

AsscherAi can be measured and evaluated using a variety of metrics, including variance to budget, commitment coverage, and days sales outstanding. These metrics provide a comprehensive view of the organisation's financial performance and can help to identify areas where improvements can be made. By tracking these metrics over time, finance managers can see how the organisation's financial performance is changing and can take corrective action to address any problems that arise.

The system can also be used to track the effectiveness of financial management strategies and to identify areas where additional training or support may be needed. By providing real-time answers to questions about financial data, AsscherAi can help finance managers to make more informed decisions and to take proactive steps to manage the organisation's financial performance. For more information on how to get started with AsscherAi, see our contact page.

Limitations and wrong choices

AsscherAi is not a substitute for proper financial management and planning. It is a tool that can be used to support financial decision-making, but it is not a replacement for experienced finance managers and careful financial planning. In some cases, AsscherAi may not be the right choice for an organisation, such as where the organisation's financial data is not well-structured or where the organisation lacks the technical expertise to properly implement and maintain the system.

In these cases, the organisation may need to consider alternative solutions, such as manual financial reporting or the use of other financial management tools. The organisation should carefully evaluate its needs and consider whether AsscherAi is the right choice before proceeding with implementation. Most people get wrong that implementing AsscherAi is a straightforward process that can be done quickly, but in reality, it requires careful planning and consideration of the organisation's specific needs and requirements.