Power process transformation using AI
Struggling with errors in your invoice processing?
If manual data entry and approval bottlenecks are causing delays and inaccuracies in your invoice processing, it’s time to simplify!
Financial Services & Accounting Teams Challenges
Data Entry Errors
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Manual data entry is prone to errors, leading to inaccuracies in financial records.
Time-Consuming Reconciliations
Reconciling accounts manually takes significant time and effort, delaying financial closing processes.
Manual Report Generation
Generating financial reports manually is slow and often results in errors, impacting decision-making.
Compliance with Regulations
Keeping up with changing regulations and ensuring compliance is complex and labor-intensive.
Period-End Closing Processes
The period-end closing process is often delayed due to inefficient and manual workflows.
Financial Services teams Challenges
Invoice Processing Delays
Slow processing of invoices can strain vendor relationships and disrupt cash flow.
Payment Collection Delays
Manual follow-ups and inefficiencies in payment collections lead to delayed cash inflows.
Customer Credit Management
Managing customer credit risks manually is challenging and can expose the business to financial losses.
Cash Flow Forecasting
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Inaccurate cash flow forecasting affects the organization’s ability to plan and allocate resources effectively.
Compliance Monitoring
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Ensuring compliance with financial regulations and audit requirements is time-consuming and error-prone.
AI & Automation Use Cases
Solutions
Invoice Processing
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Automate invoice processing directly in your ERP system, streamlining the process from receiving invoices via email to final payment. This reduces manual entry errors and accelerates payment timelines.
Vendor Payments
Automate vendor payments by comparing aging reports with bank statements, preparing payment batches, and uploading them to the banking portal. This ensures timely payments and reduces the risk of errors.
Cash Application
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Automate the reconciliation of outstanding receivables and the application of cash to receivable invoices, improving accuracy and reducing manual effort.
Customer Account Reconciliation
Implement an automated solution to expedite customer account reconciliation, minimize errors, and optimize financial accuracy.
Internal and External Audits
Automate the collection of audit documents and expand the sample set to evaluate a greater number of transactions, identifying potential risks with higher accuracy.
PROCESS & BENEFITS
Empowered Workforce
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Augmented Teams: Digital workers handle repetitive tasks, allowing your team to focus on strategic activities.
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​Future-Ready Workforce: Equip your team with the tools needed to adapt to the evolving financial landscape.
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Operational Efficiency
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Simplified Processes: Automation simplifies complex workflows, reducing manual errors and increasing efficiency.
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Role-Based Workflows: Ensure that the right tasks are handled by the right people, or digital workers, based on their roles.
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Flexible Payment Models: Choose payment options that suit your needs—pay by hour for digital workers or per transaction, such as per invoice.
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Improved Financial Performance
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Improved KPIs: Automation helps enhance key performance indicators like Days Sales Outstanding (DSO), On-Time Payment (OTP), and Cash Flow (CF).
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Better Audit Outcomes: Streamlined processes ensure accuracy and compliance, leading to improved audit results.
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Increased Revenue Recognition: Automated invoicing and payment processes speed up revenue recognition.
Request A Case Study
Interested in learning more about how Senzcraft has helped companies like yours transform their business operations? Request a Case Study now!
