Hi Reader, Here's a brief story I want to share with you. “We need a double-digit cost-cutting plan. For the next board meeting.” No context. No playbook. Just pressure. I was closing the books, chasing variances, and now… reverse-engineering a savings plan from scratch. Today, with GenAI? In this issue:
Because next time your boss calls? You won’t just be ready — you’ll be ahead. Just before we go through how to you can do it in 10 minutes, there's something you can't afford to miss. How good are you at managing your cash flow?I am excited to invite you in an event where we cover two important topics: cash flow and cost cutting. I’m joining forces with Adam Riches, CPA and CEO of Netgain, for a live online event on May 19, 2025, and you’re invited. This event is designed for CFOs, controllers, and finance pros who want to move beyond the close and start leading with confidence even in uncertain times. Here’s what you’ll learn:
This session is packed with actionable strategies to help you with your cash flow and cost cutting. Here's How You Can Use GenerativeAI to Cut CostsBack to my story on cost cutting and how I would use AI for this. 1. The Prompt I Would Use TodayHere is the prompt I have crafted for you and which will deliver incredible result if you use it with reasoning models like o3 in ChatGPT. I am the CFO of a manufacturing company. I need to come up with a cost‑saving plan. Create a detailed plan for me and my team. The plan should be a table first and then a project plan detailing the top 10 low‑hanging fruits and the exact plan to enable them. Write this like the best cost‑cutting consultant with super practical and pragmatic approach and bring some innovative ideas. That 86‑word prompt, dropped into an LLM chatbot, produced a 12‑month, consultant‑grade programme complete with:
Total turnaround time: < 30 seconds. Example of a result obtained from ChatGPT o3: 2. The Results at a GlanceKeywords I use: “Table first” Keywords I use: “Exact plan” Keywords I use: “Practical & pragmatic” Keywords I use: “Innovative ideas” See below an example of a pragmatic mini action plan: 3. Why this is so powerful for youInstant Knowledge Synthesis Iterative Co-Creation Cost-Free First Draft (This is my favorite) Scalable Expertise 4. Tips from me to get the best from LLM Chatbots#1: Be specific in the ask – Name format, depth, and tone (e.g., “table first, then plan”). #2: Provide context – Industry, size, constraints. The richer the context, the sharper the output. #3: Challenge & Iterate – Treat the bot as a sparring partner: “Stress‑test initiative #5” or “Translate for the shop‑floor newsletter.” #4: Validate with data – Plug the recommendations into a financial model spreadsheet for a sanity check before executing. #5: Blend human + AI – Let AI draft; human experts judge feasibility, manage change, and drive the culture shift. 5. Your turnIf a single prompt can surface 2-3% of EBITDA uplift in under a minute, imagine what structured, ongoing use of generative AI could do across procurement, cash forecasting, and scenario planning. Next Step: Run an “AI Finance Copilot” session with your team this month—start with a real cost line item and see how quickly you generate actionable options. Best, |
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