Innovation Doesn’t Have to Be Complicated

When snow builds up on power lines in remote communities, potentially damaging them and preventing contact with the outside world, it’s a clear problem demanding a solution. 

Some might dream up an innovative bot to travel along the miles of lines, brushing off snow with mechanical precision. It’s futuristic, sleek, and undoubtedly high-tech. But it’s also complex, costly, and requires extensive development time. On the other hand, a helicopter can blow the snow away efficiently and cost-effectively by simply flying over the lines. It's not as shiny, but is effective, quick, and ready to deploy. 

The Austrian Federal Army did just that. On a “snow clearing mission” in Upper Styria, an AB212 helicopter carried out a so-called “downwash” manoeuvre to clear snow off lines to keep the communities online.

This story is a perfect metaphor for the choices accounting and finance leaders face when approaching automation and digital transformation. Too often, innovation is conflated with complexity. We chase tools and technologies that seem revolutionary, overlooking simpler, smarter solutions that already exist.

I propose it is the role of the CFO to not only invest in new technology but to be mindful of striking a balance between innovation and return on investment (ROI).

Innovation vs. ROI

There’s no denying that designing a snow-clearing bot would be an impressive feat of engineering. But is it the best solution to the problem? The helicopter approach, while less “groundbreaking”, delivers results faster, more reliably, and with fewer resources.

The same principle applies to automating the accounting and finance functions. We’re often tempted by cutting-edge AI tools and platforms that promise to revolutionise how we work. The hype around AI is taking over every channel of the business media. These tools may be powerful, but they’re also expensive, complicated to implement, difficult to budget for and often address problems we don’t fully understand yet. Instead, what we need is a smarter approach - one that prioritises practicality over novelty and focuses on impact and strategy.

Asking the Right Questions

Before jumping to the newest solution, accounting and finance leaders must start by asking key questions, the so-called “right” questions. Questions that no AI or bot can ask and are unlikely to be able to answer.

• What business problem are we solving?
• What solutions are already available in our business?
• What solutions are already available in our industry?
• What’s the most efficient way to achieve our desired outcome?
• What are my accounting and finance peers already doing?

Chasing shiny tech often leads to inflated budgets and disappointing results. True innovation is about solving problems intelligently, not expensively. The helicopter, while perhaps less “cool,” demonstrates smart thinking and leveraging what’s available to achieve impact now.

That message was clear at Gartner’s 2024 CFO and Finance Executive Conference, with its keynote focusing on various “AI Stalls” including AI costs getting out of control and coming out of the blue. So CFOs and their leadership teams must manage innovation and maintain a focus on ROI. 

A Smarter Path to Automation

In mid to enterprise-sized businesses in the accounting and finance world, automation doesn’t have to mean adopting the most advanced tools overnight. Instead, it’s about identifying straightforward opportunities to eliminate inefficiencies and free up time for strategic work.

For instance, automating accounts payable doesn’t require a bespoke AI platform. It doesn’t even need to have an AI-first approach. Many off-the-shelf tools integrate seamlessly with existing systems, delivering immediate gains without the steep learning curve or an invitation to unseen costs. These impactful solutions are akin to the helicopter: smart, effective, and focused on results.

The Austrian Federal Army's Approach in Finance

Accounting and finance professionals should embrace a mindset that values results over complexity. Rather than overthinking innovation, we need to think critically and practically and challenge the hype. Helicopters remind us that cool doesn’t always mean better. Smart, accessible, and ready-to-go solutions often win the day.

So, as you consider automation and transformation for your finance function, I challenge you to channel your inner helicopter pilot. Look for solutions that work now, solve real problems, and create value without unnecessary complexity.

Just as the Austrian Army has evolved its own Cyber Force to ensure “any kind of communication and data transmission in the networks of the Austrian Armed Forces is carried out without friction”, we too must innovate the processes and data flows of our businesses.

Focus on Strategic Impact, not technology.

Let’s think smarter, not shinier. Innovation doesn’t have to be complicated, but it does require thoughtful decision-making. Start your automation journey with solutions that drive results and empower your finance team to focus on what truly matters: strategic impact.

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