finance & accounting
Ensure the accuracy, integrity, and compliance of your financial records with intelligent automation.
Department Solutions
AUTOMATION STREAMLINES FINANCE & ACCOUNTING PROCESSES
Address finance and accounting challenges head-on. Minimize manual data entry errors with intelligent document processing (IDP), use automated reconciliation to match transactions in seconds, and ensure compliance by automatically generating accurate reports.
With intelligent automation, free up your team to focus on strategic initiatives instead of repetitive, transaction-heavy tasks.
INCREASE DATA ACCURACY
Reduce the reliance on manual data entry. Intelligent automation significantly enhances the accuracy of financial data.
ENHANCE REGULATORY COMPLIANCE
With intelligent automation, remain in compliance with regulatory standards such as GAAP and IFRS by generating accurate compliance reports and maintaining detailed audit trails.
IMPROVE OPERATIONAL EFFICIENCY
Intelligent automation streamlines routine tasks like Invoice Processing, allowing them to be completed faster and with fewer resources.
BOOST COST SAVINGS
Automate time-consuming tasks to reduce operational expenses, or processes like Enhanced Cash Flow Management to optimize the use of financial resources.
Areas to automate
INVOICE PROCESSING
Manage the receipt, approval, and payment of supplier invoices with intelligent automation:
- Capture invoice data using IDP and input it into the accounting system.
- Route invoices for approval based on predefined workflows.
- Automatically match invoices with purchase orders and receipts.
- Schedule and process payments, updating financial records accordingly.
ACCOUNT RECONCILIATION
Intelligent automation ensures that financial records match bank statements and other financial documents:
- Match transactions in bank statements with entries in the accounting system.
- Identify and flag discrepancies for review.
- Update reconciled accounts and generate reconciliation reports.
- Maintain audit trails for all reconciled transactions.
JOURNAL ENTRIES
With the help of intelligent automation, reduce manual data entry and improve accuracy:
- Automatically extract relevant information from forms and documents.
- Verify the extracted data against predefined rules and databases.
- Route and assign tasks to the appropriate teams or individuals.
- Send notifications and updates to stakeholders about the status of the entry process.
Case Study
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STRAIGHT-THROUGH PROCESSING WITH AUTOMATION
Canon USA struggled with processing over 5,000 vendor invoices each month. By partnering with Greenlight Consulting, they implemented an advanced automation solution that eliminated a three-to-four-month backlog.
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