Finance departments are important to organisations and should be seen as more than “cost centers”. Finance professionals can do more with less by leveraging on Cognitive automation software that is incorporated with artificial intelligence (A.I.). Spend less time in transcribing data or doing reconciliations and checks. Focus your energy on analysis and thinking of ways for optimising your resources to grow your company further. Artificial intelligence functions can “read” documents (e.g. Purchase Orders, Invoices), validate information and detect outliers. Couple that with rules-based automation, RPA (robotic process automation), to complete workflows and enhance productivity.
Cognitive Automation software to recognise a specific template of invoices and extract information accurately. It is easy for people in accounting and finance departments to learn how to use this RPA application to automate accounts-payable function.
Many automation tools without A.I. have limited use for finance and accounting professionals as there is a lot of semi-structured and unstructured data that need to be processed.
Gleematic Cognitive Automation robots can read data from documents such as sales orders, RFQs (request for quotations), purchase orders, invoices, receipts, etc. and complete workflows in areas such as accounts payable/ receivable functions, data consolidation, and reporting.
You can handle data even in Chinese, Indonesian, Vietnamese, Thai. Gleematic A.I. also allows you to take a step further by detecting trends and abnormalities, and increase the extent of automation through computer vision, natural language processing, and machine learning.
Computer vision can recognize logos of payees, improves accuracy of data-extraction from documents (multi-language) and RPA completes the data-entry.
A.I can predict risk of late-payment based on history. The software robots can send reminders and check bank statements to tally the numbers.
A.I. suggests how to allocate financing for optimal results. RPA software robots can fill up digital applications for financing.
Natural Language Processing and machine-learning detects urgent emails from regulators to provide data. RPA can pull data for reports.
A.I. can pick up data from semi-structured documents such as bills and bank-statements. After that, robots can tally the numbers.
A.I. (machine learning) predicts when revenue might increase/ dip. It can also suggest product lines that you might want to focus on.
Rules-based automation such as robotic process automation (RPA) alone is not enough if you want to get ahead. Our cognitive automation technology is easy enough even for end-users to tap on the power of A.I. and machine learning. Gain “super powers” by letting cognitive robots help you do things faster, smarter, better as a finance and accounting professional.