Finance and accounting involve a high volume of transactional, repetitive, rule-based tasks that require unflagging accuracy. Robotic Process Automation (RPA) in finance and accounting streamlines operations such as invoicing and reconciliations to increase operational visibility, improve compliance, optimize efficiency, and ensure data accuracy.
Automate sales quotation generation, invoice distribution, customer credit monitoring, and follow-ups to ensure no cash gaps.
Let RPA bots handle vendor invoices processing, matching vendor’s invoices with the purchasing order, managing payment, and responding to vendor inquiries.
Streamline bank reconciliations by letting bots handle tasks like downloading bank statements, validating balance and transactions, creating journal entries, and flagging exceptions.
Ensure compliance by allowing bots to scan contracts and purchase orders for extracting key information to compare with information in ERP systems.
Ensure accurate travel and expense processing by extracting information from the submitted invoices and comparing it with internal regulations before processing them.
: Let the bots automate weekly, monthly, and quarterly reporting by gathering data and calculating the tax payable. The bot can even submit reports to tax authority portals.
RPA bots can also format data into a specific format, update ERP systems, send reports, update the general ledger, etc.
Get a superior financial forecast and have an accurate action plan by leveraging historic data, variance reports, and financial statements.
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Nuummite Consulting is leading RPA implementation partner in the Middle East that can help businesses overcome the top three finance and accounting challenges:
We work closely with our clients to optimize the existing process to effectively implement and deliver RPA projects that decrease manual errors, increase productivity, and ensure higher customer satisfaction.