The financial landscape today is slowly but definitively changing. Complete automation of financial processes will replace time-consuming accounting tasks shortly. As a result, you will have more time to focus on essential business activities that will ultimately lead to better financial performance. Although the implementation of automation in the financial industry is still at an early stage, the industry is changing at a higher pace than you might expect.
The roles of finance managers have evolved from merely keeping the company on track from a budgetary point of view to managing it from the strategic perspective. Having this additional responsibility reinforces the importance of having data that is accurate and always available at the right time for the right people. New technologies such as automation, advanced analytics, blockchain, and cognitive technology can transform cost structures, increase efficiency, help you make strategic business decisions, and generate useful insights. Automating workflows can also help you improve financial performance, risk management, and compliance, and to optimize and speed up processes.
Automation can help streamline financial processes, which is of crucial importance to CFOs. Many companies still enter their data manually to generate reports and spreadsheets, which leads to lengthy processes that can take up several weeks and slows down the financial reporting. With automated processes, every entry or change in a report is automatically reflected in every financial document and ensures up-to-date information for all employees across departments. Consequently, this can result in quicker processing and transparent audit trail, enabling companies to have the reports immediately available when stakeholders need access to them.
To-Increase Invoice Workflow provides us with significant savings now and in the future. Invoice Workflow is so intuitive that we actually didn’t need any introduction to the system. All processes that can be automated are automated, and all the saved clicks quickly add up to many saved working hours. Invoice Workflow is a simple, thoroughly proven, and excellent system.
― Soren Israelsen,
Reduce administrative costs and workloads, and speed up your invoicing process
Eliminate paper-based forms and manual data entry with automated workflows
Make steady improvements in your financial performance, and increase efficiency