Financial process automation helps reduce the number of repetitive tasks while enhancing operations quality. When it comes to making changes to financial processes, the initial company response usually goes something like: “Why? Things have always worked just fine the way they are.” Which is probably true, but how many times have you had to work late to double-check your accounts payable? Or to correct data entry errors inadvertently made by one of the members of your team? Do you find that you and your team waste an inordinate amount of time managing and archiving paper documents? Business process automation can help you optimize your internal processes and boost your overall efficiency.
Financial process automation: Eliminating paper
Paper document flow poses challenges of ever-increasing complexity, especially for growing businesses with limited staff and resources. For years now, the paper has bogged down processes and impacted company budgets and financial capacity. The advent of e-mail revolutionized document receipt and processing. Unfortunately, however, processing all too often remains a manual function which begins with the printing out of all required documents. Any processing and approval delays can subsequently escalate costs considerably. Discover how financial process automation can streamline company operations and trim internal costs.
Optimize your processes and sharpen your competitive edge
Use financial process automation to sharpen your company’s competitive edge and optimize sales order processing or travel and expense management. INTEGRIM’s automation solutions generate significant savings in next to no time. As you migrate from paper to electronic and ultimately to automated document processing, you will enhance your productivity, improve your performance, bolster employee dedication and elevate your corporate profile.
Clients associate financial process automation with benefits such as the following:
- Elimination of manual data entry
- Elimination of errors
- Elimination of paper handling operations
These benefits allow your employees to remain focused on core tasks and more properly appreciate the value of the work carried out by each individual member of the team. Process automation also facilitates employee onboarding and retention.
Control your processes
In addition to eliminating paper handling errors and the time required to enter data manually, financial process automation helps you better control your processes.
Consider, for example, accounts receivable management. Managing claims and discounts applicable to client payments can prove extremely time-consuming and weigh heavily on operations. Factor in refunds, disputes, and deferred payments and you will find that your employees become quickly overwhelmed and overburdened. Financial process automation enhances financial and operating efficiency by transforming the manner in which collections and applicable deductions are managed.
Extracting and centralizing your information
Using optical character recognition (OCR), you can extract transaction data from payment advice slips and cheque stubs with near-perfect accuracy, thereby facilitating an otherwise tedious, error-prone process. The same applies to accounts payable, sales order and expense account management.
Centralizing all information and processes on a single platform constitutes a key benefit for your company. Financial process automation enables you to simplify business process management.
Trust experts in automation
The automation experts at INTEGRIM will help you tap into the benefits of financial process automation. As a result, you will be able to streamline your company’s document management operations. The transition from paper to digital provides a solid opportunity to eliminate physical document archiving and optimize your financial processes.
INTEGRIM provides comprehensive robotic financial process automation services. Our extensive range of offerings sets us clearly apart from our competitors. Interested in learning how to implement financial process automation and optimize operations efficiency? Contact us for further details about financial process automation. A seasoned member of the INTEGRIM team will be pleased to take your call and answer any queries and questions you may have.