Technology is growing too fast that you can see software bots in every industry like customer service, accounting and financial services, supply chain management, healthcare, human resource services and are now their full-time employees working 24/7 without taking any break.
Financial organizations come under one such sector where digital workforce is their employee’s workmate in getting done almost all the department back-office functions.
Why to automate your financial and accounting activities?
Automating the financial processes can help in, better strategic utilization of employees. Reduction of repetitive manual tasks, Reduction of human errors. Better internal control. Improved visibility into future risks and opportunities. Helps in cross-functional insights. Risk assessment
Challenging areas in finance and accounting automation:
Smaartt solutions:
Customer Onboarding made easy: With blue prism digital workforce and Smaartt Digital consulting customer onboarding is now a seamless task.
Journal entries:
Our standard recurring journal entries can monitor duplicate journal entry and lot more.
Product revenue accounting:
Our RPA solutions can now collect necessary data from various sources and update estimates and revenues automatically each month.
Payroll management:
Smaartt digital can automate your payroll processing, employee benefits calculations etc.
Reconciliations:
Provide digital solutions for reconciliation of general ledgers to sub ledgers and general ledgers to general ledger, reconcile bank statements to general ledger and cash book.
Consolidations:
Can automate period end close consolidations.
Fixed asset accounting:
You can now automate your fixed asset accounting with the help of software bots. The areas involve: Asset acquisition/disposition, calculating depreciation, asset transfer and fair value measurement, fixed asset reporting.
Vendor management:
Automating the vendor master data, vendor enquiries and complaints management etc. can now make your vendor management simple and seamless.
Sales and purchase order management:
We have digital automation solutions for managing your sales orders and purchase orders. Eg: manage vendor catalogues, price lists, manage order entry, track order etc.
Direct and indirect tax management:
Master data maintenance, data collection, GL Journal entries for tax, maintain indirect tax rates and rules, manage vendor charged tax discrepancies, maintain tax master data, tax governance compliance and reporting.
Credit card blocking and unblocking:
Smaartt digital consulting provides automation solutions for blocking and unblocking customer credit cards based on the EID expiry and renewal date respectively.
Lot more:
- Contract management
- Internet application processing
- Budgeting
- Auditing
- Data management
- Loan management
- Credit management
- DDA’s
- Clearance and deferments
- Service desk management
- Application integration between legacy and new systems