In this conversation, Martin Sunde, CEO of ImportFlow, shares why finance teams are still navigating challenges in becoming strategic drivers of change. Drawing on his experience working with finance leaders across industries, he explains how finance has moved from manual data entry to control, prediction and collaboration -but still faces hurdles in connecting with supply chain, sustainability and broader business functions.

Martin discusses the role of AI, data enrichment and invoices as a “single source of truth,” the impact of legacy systems, and how finance leaders can stop old habits, adopt new technology, and leverage data to influence business decisions.

This conversation is part of our whitepaper The Evolving Role of the CFO, exploring how finance leaders in Norway are preparing for a data-driven and AI-enabled future.

Martin Sunde, CEO of ImportFlow

Martin, what’s exciting to you in finance right now, and where do you see finance leaders heading?

"Martin The exciting thing is that with new technology and AI, it’s much easier to use a larger set of data to understand and plan for the future. Previously, information was very fragmented. Old EDI solutions connected systems one-to-one and without a standard, it was hard to make connections.

Now, with new systems, we can use AI to map more products more easily. We don’t need as much standardisation as before. Over the years, companies have tried to standardize products with one number per product, but AI allows us to connect multiple data sources to products more efficiently.

This AI-driven approach will accelerate change, especially for older companies relying on one-to-one connections and legacy technology. They risk being disrupted by newer, faster-moving companies. It’s an exciting time for the finance function.

Finally, there’s also the shift from computer-based systems with internal data to cloud-based systems. Cloud solutions talk to each other and work more closely with the supply chain than before. That’s going to be an interesting change for the future."

You mentioned the importance of data and how adoption differs between small and large companies. From your experience, what’s really driving finance teams to change?

Martin: I think one big driver is all the new regulations coming in. That means there’s a lot more work for the same number of people in the finance department, so they need to be more efficient. On top of that, new employees coming in don’t find it interesting to sit and punch data. 

Some of the changes are probably driven by cost efficiency but another part is that they simply don’t need to do all this work manually anymore. At the same time, they still need to maintain control, and that’s always been the biggest concern for finance teams. In the past, they were cautious about adopting new solutions because they wanted to make sure they could still control everything.

Over the past five years though, that’s changed. Finance teams are now more willing to try new tools and approaches to see if they can manage control in a different way. So, I think it’s really a combination: the need for more data, the need to comply with new regulations and the desire to work more efficiently - all while keeping control of the process.

Teams are getting smaller and efficiency is key. What’s been the biggest challenge for finance leaders in adopting these solutions?

Martin: I think the biggest change has been moving from traditional processes - like stamping invoices and sending them by mail - to electronic workflows. That part was relatively easy, because it was just the same procedure digitally.

The harder part now is learning to trust and use new technology while still trusting the data it produces. Adopting these tools and being confident in the data has been one of the toughest challenges. A big driver is reporting on things like CO2 emissions. Doing that manually would take forever, so automation and new solutions become essential.

Not everyone on a team adapts to change at the same speed. How do you approach helping finance leaders adopt new solutions and what core value is ImportFlow trying to deliver?

Martin: A big challenge for many companies is legacy systems. Many have old systems that are hard to change, so we have to take that into consideration when helping them.

Changing ERP or financial systems is expensive -it can really “break the neck” of a company. From our perspective, we focus on handling both old and new systems so that data is available, no matter the system.

One of the biggest motivations we’ve found is enriching data from invoices. Incoming invoices are the main source of information, and there’s a lot of hidden data there that can be connected to other sources across the value chain.

Let’s talk more about data enrichment and invoices - how have you seen industries move toward a more data-driven approach?

Martin: Yes, especially with new regulations and CO2 reporting, it’s increasingly crucial to understand your supply chain - where to get the right products and the right data about them. Companies need to know who they’re buying from, what the products consist of and whether they’re the right products for them.

With CO2 costs and other factors, understanding your value chain is essential. Systems that help map and analyse this data allow companies to make better decisions, like switching vendors if necessary. Macro trends, like de-globalisation also make this more important.

To do this, you need data. Producers are using EPDs more to describe product life cycles, transportation impact and composition. Using this data effectively will be key for the future.

Companies already use many systems for suppliers, products, and invoices. How do invoices fit into the bigger picture?

Martin: Invoices are what we call the “single source of truth” because they show what you’re actually buying. Other systems focus on vendors or products, but the products you receive might not match what you expected.

Invoices allow you to connect to other data sources and understand what a product really consists of. Tracking that through the value chain helps everyone understand the product better. This focus is growing, especially as products need to be recycled. Invoices are an important part of this value chain because they describe the actual product.

Have you seen a shift in how finance interacts with supply chain and sustainability teams?

Martin: Yes, there has been a change. The environmental department is relatively new in many companies. Connecting supply chain - understanding who they’re buying from and what they’re buying - with finance, which handles the invoices, is really important.

Previously, environmental teams often stayed on the sidelines - they’d just get invoices and try to understand what was bought to report on it. Now, they need to be more involved in choosing the right products and managing processes. Handling this together, with a common system, will likely be an important change in the future, helping companies plan and predict better for new buyers.

With AI, it’s not just about having data anymore, it’s about quality. How do you see the need for clean, accurate data evolving?

Martin: Quality has always been a big issue. With new technology, it’s much easier to do due diligence on data. We’re also seeing new companies certifying data, connecting it more easily and accurately than before.

The source of information is crucial. It needs to be mapped to products and connected to the origin, so you can trace the entire data journey from start to finish.

Finally, what should finance leaders start and stop doing in today’s AI-driven environment?

Martin: I think finance teams should stop spending time on manual work - collecting data, double-checking numbers, chasing information that should already be there. That’s not where their value is anymore.

What they should start doing is thinking about how data can just flow through the business - how it follows the transaction instead of being something you have to search for. When that happens, things become much more seamless. Finance can focus on insights and decisions, not data gathering.

That’s the future - connected, automatic and a lot less stressful.

Editor’s Note:

This interview has been adapted from a recorded conversation. It has been lightly edited for clarity, flow, and readability, with filler words and repetitions removed. Every effort has been made to preserve the intent, tone and insights shared by the speaker.