Invoice Automation

Intelligent automation using RPA can streamline communications by automatically validating and onboarding customers, processing payments, flagging discrepancies for investigation and providing real-time, transparent financial reporting and more. As well, Automation Anywhere’s finance bots can extract data from multiple sources.

Robotic Process Automation can improve cash flow by automating time-consuming workflows such as building ledgers, allocating amounts across different accounts, and reviewing payments. invoices can be created instantaneously and sent on pre-defined schedules resulting in faster payment and more profitability.

Payment processing is a time-intensive operation with multiple data points, manual data entry, processing invoices and payments, and reconciling accounts. A single transposition error can result in hours of reconciliation, lost time and productivity. RPA reduces errors, reduces costs, increases efficiency and boosts customer satisfaction.

Business invoices are prone to errors such as missing/incorrect information.Investigating and reconciling discrepancies are time-consuming and can be avoided by adding RPA to accounts payable/receivable functions. When GLT International implemented an RPA solution, they quickly “95% accuracy has been achieved with 89% straight through processing.”

RPA can generate invoices and work orders, process payments, reconcile accounts, create transparent audit trails and generate reports and update accounts in real-time. RPA can generate financial data on-demand, supporting forecasting, external reporting and business decision-making.

Changes in international financial accounting practices can cause delays as employees learn new processes. RPA can automatically update standards, tolerances and controls, ensuring your financial reporting is always in compliance. By automating audit practices and controls, you can strengthen governance and regulatory compliance.