JobRouter® Deployment scenarios in the Finance Department
Finance Automation: Automating your financial management
Finance automation is revolutionizing financial processes, providing an efficient and time-saving solution. In fact, according to a KPMG study, a staggering 96% of finance managers believe that automation can handle the majority of traditional tasks, including invoice processing, accounting and order management. By embracing new automation technologies like digital process automation (DPA) or robotic process automation (RPA), your organization can save time and money, eliminate tedious, manual tasks, and increase transparency and control over your finances.
The JobRouter® digital process automation platform is your perfect ally in finance. It is fully customizable to suit your needs, enabling you to automate mundane tasks while fostering seamless collaboration between different departments. This ensures that controlling is seamlessly integrated with all other departments, optimizing governance, IT, purchasing and sales processes.
The payoff of Finance Automation
Traditional finance departments often struggle with errors and data loss due to manual processes, like relying on email correspondence and spreadsheets. Implementing finance process automation and standardizing finance-related processes vastly improves collaboration, reduces errors and increases overall productivity. The right finance automation solution offers many key benefits for any company.
Common use cases for automation in finance
Finance is filled with repetitive manual tasks that demand attention daily or monthly, whether it’s ordering, purchasing, payments, cost reimbursements or expense management. Here are four common use cases in which automation makes a major difference for finance teams:
Procure-to-pay
Procure-to-pay (P2P) compromises all processes involved in the purchase and payment of goods or services in a company. It covers everything from issuing purchase requisitions, to order management, invoice processing and payment.
Invoice processing
Digital invoice management is often one of the first processes that companies choose to introduce when they begin their automation journey. Finance automation software efficiently matches invoice data with pre-captured order data, so there is never any need to enter data manually.
Order-to-cash
Order-to-cash is the counterpart to procure-to-pay (P2P), seen from a supplier’s perspective. It covers the processing of a customer’s purchase transaction from the moment an order is received until it is paid. Order-to-cash can complement the P2P process.
Accounts Payable
Accounts payable is an area of finance that deals with the billing of services by vendors. In this case, process automation supports you by streamlining order management, invoice processing and payment commissioning.
Treasury management
For the finance department, treasury management involves handling banking and financing transactions, ensuring sufficient liquidity. Process automation brings clarity and oversight to complex treasury management processes.
JobRouter® supports you with your Finance Automation
The JobRouter® digital process automation platform serves as an all-in-one solution for automating your finance processes. It seamlessly integrates with any ERP or financial accounting system, offering powerful solutions for any finance workflow, from purchase order processing to reconciliation, invoice management, accounts payable, financial close checklists and beyond. With trusted workflow automation technologies, customizable modules, and low-code process design, JobRouter® adapts to your organization’s unique needs, empowering you to configure your own finance automation solution.
Benefits of choosing JobRouter®:
- Enhanced controlling: Gain better control over financial processes.
- Increased efficiency: Facilitate integrated data exchange for improved efficiency.
- Electronic invoicing: Create electronic invoices with linked information.
- Compliance: Ensure archiving compliance with legal regulations.
- Paperless archiving: Establish a central reference for all documents with a paperless email archiving system.
- Optimized cost control: Implement roles, rules, and escalation functions for optimized cost control.
Learn more about automation in finance and other related topics
Digitizing Accounting: 6 Challenges You Can Overcome with Process Automation
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