Finance & Accounting automation

Businesses must innovate to keep up with their competition. No matter the type of business, finance and accounting are essential to operational innovation and competitive differentiation. Even though some of the actions remain manual, adopting intelligent automation can be a powerful on-ramp towards the digital transformation of these operations.

Businesses place a greater emphasis on their financial health since the 2008s global financial crash, including cost control and risk management. Accounting departments are under increasing pressure to perform better against budgets to improve financial health.

 

Multinational businesses changed how they interact with finance and accounting data by adopting enterprise resource planning software (ERP) in the early 1990s. Big companies have spent decades purchasing modules and add-ons for ERP systems, assigning many of their workforces to maintain them. Until the rise of RPA.

Transforming your business with Finance and Accounting automation

Using Finance and accounting automation will transform your business. Intelligent automation is a way to improve efficiency and effectiveness in areas where organizations used offshore transaction-heavy accounting processes to labour arbitrage countries like India, Southeast Asia, and the Middle East. RPA eliminates the risks and customer experience degradation resulting from outsourcing key business processes or traditional offshoring.

Robots can move data seamlessly across borders, from one app to another, mimicking actions such as clicking, typing, and moving between windows. These robots can also use machine learning models and native AI, as well as add-on Artificial Intelligence.

 

RPA, AI, machine learning (ML), and other advanced cognitive technologies complement each other. Pure RPA can perform repetitive task-based rules, but this can be enhanced if embedded AI, ML, and cognitive technologies.

Intelligent robots are more cost-effective in processing large numbers of repetitive tasks, working around the clock, and are fatigue-free. There are also ongoing costs for setup and maintenance, but the ROI (return on investment) is higher and faster with RPA.

Robots allow you to focus on the outcomes and free up expensive F&A resources for higher-value activities, increasing employee engagement improving competitiveness and customer service.

Choosing the proper process for automation

Don't know how to choose the right finance and accounting process for automation? We have a few hints for you.

 

Unlimited benefits with intelligent automation

Ensure better governance and control

Automate manual controls and ensure regulatory compliance.

Build business resilience

You can adapt to change by eliminating manual, repetitive, and data-intensive tasks.

Increase cash flow

Automate invoicing and reconciliation tasks to streamline the accounts payable/accounts receivable processes.

Accelerate financial close

Intelligent automation provides financial data on-demand, supports external reporting as well as the business decision-making process.

Reduce your costs

To improve financial operations efficiency, automate manual processes and perform data validation checks.

Improving accuracy

Reduce processing errors using intelligent automation. 

Transform your business with intelligent automation!

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