Etihad Airways leverages Microsoft’s AI for Bank reconciliation automation process

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Etihad Airways had recently announced a partnership in tandem with leveraging the Microsoft’s AI for automation of the bank-reconciliations within their finance segment and which will act as a perfect platform for their next phase of digital transformation.

This initiative will be addressing the surging demand for nurturing in the productivity as well as their productivity along with the operational effectiveness within the post-COVID era. Airline major Etihad is also poised in for creating momentous gains on efficiency by implementation of the perfect solution, as well as in mitigating the risk by human errors arising out during performing bulk transactions data, manual reconciliation stuffs that are prevailing at the moment.

This fresh initiative features in the Etihad’s positive deployment of Microsoft’s AI prospects offering in superior automated payments inspection earlier this year in particular that forms integral part of the enduring partnership within the two entities for powering out the adoption of AI across the firm.

Statement from Adam Boukadida, Chief Financial Officer, Etihad Aviation Group

Etihad Aviation Group’s Chief Financial Officer, Adam Boukadida stated out that, “The pandemic has created more demand for digital transformation. However, the ability to execute on this has really rested on having the right people and technology partners in place – this is where Etihad has been exceptionally well positioned.”

Statement from Frank Meyer, Chief Digital Officer, Etihad Aviation Group

Etihad Aviation Group’s Chief Digital Officer, Frank Meyer, stated out that, “Bank reconciliations are a tedious and labour-intensive process in most global organisations and we are excited about the ability to automate this through the use of technology. Our longstanding partnership with Microsoft has made it easier for us to initiate our automation plan to enhance efficiency, expand cost-reduction and optimise operations.”

Statement from Bhavesh Shivshanker, Head of Financial Operations, Etihad Aviation Group

The Head of Financial Operations, Etihad Aviation Group, Bhavesh Shivshanker, stated that, “It’s only recently that AI tools have come into the hands of finance professionals in both a cost-effective and practical way. It’s exciting to see how core processes such as bank reconciliations, payment controls and cash forecasting, can be super-charged as a result.”

Statement from Jens Hansen, Microsoft EMEA VP for Data & AI

Microsoft EMEA VP for Data & AI, Jens Hansen, stated out that; “AI will be a great transformer across several sectors including aviation, empowering the creation of higher-value services that can lead to overall economic growth. We do not foresee AI fully replacing humans in the workforce; rather we see it as a universally accessible tool to augment human abilities. And Etihad Airways has been a frontrunner in preparing today’s workforce for the jobs of the future by setting an example in its harnessing of AI.”

Statement from Massimo Melessaccio, MEA CFO for Microsoft

Massimo Melessaccio, MEA CFO for Microsoft, promptly stated that, “Digital transformation in finance has become more and more a necessity to overcome many of the challenges we currently face as finance leaders. It was my pleasure to kick off the discussions around such collaboration between Etihad Airways and Microsoft, and start this journey together. It’s great to see Etihad Airways taking major steps towards leading with innovation, and becoming a leader in that domain by realizing value from adopting AI and business process automation.”

Statement from Naim Yazbeck, Regional Director, Enterprise and Partner Group (EPG), Microsoft UAE

Naim Yazbeck, Regional Director, Enterprise and Partner Group (EPG), Microsoft UAE, also was prompt to announce that, “Microsoft innovates with confidence and our UAE cloud regions are actively contributing to the success of our customers and the enhancement of the region’s competitiveness.”

Microsoft’s Finance has been always on the forefront of its own voyage to alter, making sure the learnings of this voyage are shared across other establishments. Microsoft will be in contention to celebrate the second anniversary of the inaugural of its UAE data centres.

Since entering service, the facilities have powered the region’s dynamic digitization culture, as enterprises reimagined their industries and delivered resilience and business continuity.

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