Finance Process Automation
What is Finance Process Automation?
Finance Process Automation involves automating financial workflows to track the business's financial position and efficiently manage cash flow and income. By streamlining the financial workflow, organisations can use cash inflow optimally to improve their bottom line. Accurate tracking of financial workflow gives management data-driven insights for making informed decisions on investments, selling, and tax reporting. By maintaining clear financial records ensures an updated audit trail is always available.
Unlock Real Business Benefits
Cost Savings with Automated Capture
Reduce your operational costs associated with invoice processing by upto as much as 80% through automation
Increase Productivity with Digital Workflows
Using automation, accelerate and optimise your workflows for invoice approval to increase productivity
Provide Management Information for Business Process Insight
Gain visibility of critical processes and data allowing your organisation to act early through an intelligent automation platform
Digitise and Automate your Financial Processes
Accounts Payable and Invoice Automation
Increase Processing Speed and Accuracy
Reduce Manual Data Entry
Use automation to extract data from physical and electronic invoices to save your teams from tedious manual data entry tasks. Use automated lookups to validate and cross-check data, improving accuracy and efficiency.
Increase the Speed of Approvals
Design custom workflows to suit your organisation in a graphical user interface. Empower your teams to create and modify workflows as the needs of the business change and evolve. Manage alerts and notifications and give your Accounts Payable Team the power to see what is happening in the intelligent automation platform at any point in time.
Leverage your existing investments in ERP and Finance Systems by integrating them with capture, workflow and automation tools.
Cloud Invoice Processing
Accounts Receivable Automation
Automate Cash Allocation and Reconciliation
Automate the Matching of Remittances and Invoices
Use automation to extract key data from remittance advice documents and match them to your transactions in your ERP system.
Eliminate Manual Payment Allocation
Achieve finance automation by matching off transactions against outstanding amounts to allocate cash faster and more accurately and reduce debtor days.
Analyse the Process
Identify problematic transactions and route them to specialist teams for resolution. Improve the productivity and effectiveness of your processes through automation.
Handle Remittance Advice from multiple sources, including email, post, EDI and portals.
Learn Payment Behaviours
Use machine learning and artificial intelligence technologies built into cognitive capture software to automatically learn payment behaviours and improve accuracy.
Seamlessly integrates with ERP platforms using pre-built framework connectors to allow rapid deployment and reduce cost.
Use technology to deliver better process experience for internal and external customers.
Automating Cash Allocation:
A Finance Director’s View
“As a Finance Director, I tend to be on the receiving end of many marketing campaigns with offers to discuss the benefits of intelligent process automation, but it’s not always clear what the tangible benefits are and how it could be applied to specific business processes. As someone who has implemented and used…”
Streamline operations, cut costs, and reduce wasted time
Reduce Manual Processes
Free up employee time spent on manual inputting and checking physical expense claims by allowing them to capture receipts on a mobile device and use automation to collect data. Provide them with the tools that in the Digital Age people expect.
Uncover True Spend Data
Digitising and collecting expense data means that finance teams can see where money is being spent, by who and for what.
Ensure business expense and spending policies are followed, reduce fraud, and eliminate errors using automation and digital workflows.