Nick Cimini, Managing Director at SUMLOOKUP (Australia & ANZ), and Buffy Wu, Managing Director at SUMLOOKUP (US), joined Abacum for a conversation about how artificial intelligence is reshaping FP&A. Both leaders bring years of experience helping finance, supply chain, and HR teams modernize their planning processes.
Together, they shared where finance teams struggle today, how AI is already making an impact, and why platforms like Abacum are uniquely positioned to support this transformation.
The Current FP&A Reality
Finance leaders today are overwhelmed by scale and complexity. According to Cimini, time is the number-one challenge. As companies grow, their data multiplies — yet their infrastructure often can’t keep pace. “As companies scale, they realize their infrastructure isn’t built to take on that level of change,” he explained.
Wu added that in the US market, compliance pressures and frequent policy changes make forecasting even harder.
“With changing regulations, the rise of AI, and general economic shifts, companies are looking for ways to adapt quickly. They need to be able to plan for the future with flexibility.”
The problem is compounded by outdated systems. Legacy tools create silos, making collaboration difficult and slowing decision-making. As Wu put it:
“when companies have 10 to 20 years of data trapped in legacy systems, moving forward is challenging — but connected planning is what unlocks true transformation.”
Cutting Through the AI Buzz
AI has become a buzzword in finance, but where is the real impact today?
Wu pointed to automation in data analysis: “Historically, analysts would spend days in Excel or running long Python scripts. Now, AI can generate automatic summaries and analysis in seconds.”
Cimini emphasized that AI isn’t a silver bullet — maturity matters.
“A lot of companies want to go straight from siloed functions to AI, but there are steps in between. You need clean, consolidated data and a clear strategy. AI isn’t here to replace, it elevates and automates, freeing finance to focus on analysis.”
The difference between experimentation and true transformation often comes down to scope. Point solutions may save hours in the short term, but the real value comes when AI is embedded into core workflows, guiding decisions at every level.
AI-Powered Planning in Action
So where does AI bring the most value to planning today?
Narrative building: AI can generate summaries and storylines around financial data, making board reporting faster and more consistent.
Error detection: Wu noted that even large banks have made costly forecasting mistakes due to formula errors — AI acts as a second set of eyes to catch them.
Scenario planning: Cimini highlighted the ability to simulate multiple forecasts with natural language prompts.
Trend forecasting: Wu gave the example of tariffs in the US. “When tariffs are changing rapidly, AI can spot patterns and adjust forecasts in ways that would be nearly impossible manually.”
And when it comes to platforms, both leaders agreed Abacum has a key advantage. “Abacum doesn’t have to bolt AI onto legacy models — it was built with AI at its core,” said Cimini. Wu added: “Its ability to clean and validate data, plus generate summaries automatically, is a huge step forward compared to legacy tools.”
Shifting Finance from Reactive to Proactive
The biggest outcome of AI in FP&A is time savings — and how that time gets reinvested in more valuable work.
“For finance teams, it’s about reducing the hours spent preparing data so they can focus on analysis,” Cimini explained. Instead of reacting to requests, AI helps them anticipate questions and provide faster insights.
Wu pointed out that Abacum’s multidimensional planning and native integrations are another driver of proactivity.
“Legacy systems often require manual scripts and connectors. Abacum offers built-in integrations, so finance works with fresher data instead of reporting on numbers that are already weeks old.”
The result is finance stepping into a more strategic role. With embedded AI taking care of repetitive work, teams can spend more time making decisions, advising the business, collaborating cross-functionally, and proactively shaping decisions.
The Future of AI-Augmented FP&A Teams
Looking one to two years ahead, both leaders see a step-change in how finance operates.
Automation of manual work: Forecasts will be continually updated by AI without requiring constant human adjustments.
Better insights, faster: Teams will be equipped with multiple variations of plans and scenarios in less time.
Seamless collaboration: AI will help standardize calculations and logic across teams, reducing the need for endless reconciliations and emails.
Closing Thought
AI isn’t just transforming workflows — it’s reshaping the role of finance. With Abacum’s natively embedded AI, finance leaders can leave behind the manual grind and step into a more strategic, advisory role.
As Cimini summed up: “With AI, finance can stop chasing reports and start advising the business.”
