Finance and Accounting not fully operational without RPA

Finance and Accounting not fully operational without RPA

Eliminate manual labor and increase efficiency in your finance and accounting department

The benefits of automating acounting and financial operations are numerous. It improves the efficiency of operations, leads to more transparent processes and lower processing costs and it optimizes cash flow. Many start-ups, SMEs and large corporations are looking for ways to eliminate manual work and spike the benefits of automation for financial and accounting processes.

RPA is here to aid business growth

Robotic process automation (RPA) can make a real difference in procure-to-pay, scan-to-pay, order-to-cash, and record-to-report. Market reports mention RPA leads to 80% more time-efficiency, leaving the accounting and finance department more room to make the company grow.

Klippa OCR (Optical Character Recognition) is an RPA. It mimics human interaction between the departments of finance and accounting. It can streamline unique processes that exist outside of your core systems and that are assigned cognitive tasks. As for the workflow, all the processes are deployed by intelligent software robots. This reduces costs and frees up resources (such as time and money) to be reallocated to more value-adding tasks.

Klippa’s OCR automates any incoming flow of invoices and receipts, making human intervention redundant. It extracts all the significant information from any document. If you combine this with a solution for financial process automation (Klippa Invoice Processing), it provides the most comprehensive solution for automation in your finance and accounting departments.

Account payable automation with RPA in ERP

When looking for an ERP you should always choose one that has been commercially used for quite some time. Because a custom or uncommon ERP can make it difficult to find the right automation solutions to support invoice processing and AP (Account Payables) automation. Integration with AP means not having to jump back and forth within two or three different systems. Klippa provides RPA solutions based on OCR with many ERPs.

Get streamlined e-invoicing with portal integration

E-invoicing has been gaining fame in the past few years. It consists of both AP (Accounts Payable) and AR (Accounts Receivable). While it promises advances in AP and AR automation, what it usually does is deliver networks and standards that manually transfer files between multiple portals and your ERP. If we were to automate this part of e-invoicing, we would be talking with a single system that employs AI algorithms, pulling together all the information you need from all the possible portals, eliminating manual updates. But this method may still cause errors.

Process incoming purchase orders faster and match them with the invoice

Klippa has combined ‘intelligent capturing’ and ‘workflow order automation’. Via AI algorithms and robots we reach out to systems to validate prices and update inventory or CRM systems, and automatically report back to you about the processing of incoming purchase orders — one of the most manual processes out there. Our OCR engine enables us to match the purchase order with the AR invoice. The benefits:

  • Faster purchase order processing – due to algorithms being executed in less than a second
  •  Fewer errors
  •  Lower costs, due to economies of scale
  •  Improved customer service and customer experience

Redefine automation possibilities

Step into the era of digitization and transform your financial processes with a combination of Klippa Invoice Processing and Klippa OCR. These AI robotic process automation solutions are both handled by Klippa. No more countless vendors!

Schedule a 30 minute demonstration below to learn more. No strings attached, of course.

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