Financial Process Automation

We enhance financial process efficiency through automation

 

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Robotic Process Automation (RPA) is an advanced solution that can handle various essential financial processes, eliminating repetitive tasks and reducing the risk of human errors. Consequently, financial departments will be able to make informed real-time decisions and have a clearer view of the financial situation.

Financial automation represents a strategic investment that brings efficiency and contributes to the success of organizations in an ever-evolving business world.

How can RPA help in Financial Process Automation

RPA robots are capable of taking on repetitive tasks prone to errors within accounting, such as manual data entry or account reconciliation. Robots can automatically extract information using intelligent technologies (OCR, Machine Learning, Natural Language learning).

 

Accounts Payable (AP) and Accounts Receivable (AR) Automation

RPA robots are capable of taking on repetitive and time-consuming tasks within accounting, such as document management and payment processing.

RPA can extract and manage data from documents received from suppliers and customers in various different formats and can automatically generate orders and invoices.

Furthermore, robots can automate the matching of invoices with purchase orders, ensuring the accuracy of financial transactions and directing invoices to responsible individuals for approval, speeding up the approval process.

Additionally, it automates payment processing, contributing to efficient liquidity management.

Financial Control

RPA robots generate precise data and strictly adhere to standard procedures. This reduces human errors and contributes to better financial control. With data in alignment, the business is better prepared for audits and compliance with financial regulations.

Financial Planning

Financial planning requires careful analysis of business financial trends and market research to make accurate forecasts.

RPA can play a crucial role in this process by:

  • Comparing Results to Plans: Automation allows for a precise comparison between financial forecasts and actual data. This way, the business can adjust strategies and improve future plans.
  • Loading Accounting Balances: Robots can automate the loading of accounting data into financial planning systems, reducing the time spent on this activity.
  • Generating Reports: RPA can generate detailed reports that compare actual financial results to forecasts. These reports provide a deep understanding of business performance and identify areas for improvement.