Intelligent automation is revolutionising the business landscape and leading organisations looking to gain sustained advantage have learnt that automisation is a powerful way to reduce costs along that path while improving controls, quality and scalability.
The future of finance: Leveraging automation to deliver undiscovered value
Access to real time financial data is critical for effective decision making. However, traditional financial processes in most organisations mean that finance functions require significant turnaround time on generating reports for management that are historical-focused and unable to deliver predictive insights.
Finance functions are also experiencing significant accounting changes due to new standards, and requiring more detailed disclosures, complex calculations and valuations. This has created the need for tailored solutions such as bespoke systems or RPA tools to increase the efficiency and accuracy in reporting.
Robotic Process Automation (RPA)
Automate routine and repetitive tasks to achieve efficiency and cost savings
- Automate reconciliations, monthly closing, and preparation of financial statement and/or management reports
Insights for the future
Predict future outcomes and organises data into patterns and trends to provide business insights presented in smart visualisation
- Smart dashboard for performance management and reporting
- Business forecasts for the estimation of credit losses (e.g. IFRS 9), budgeting, and management reporting, treasury related forecast e.g. FX exposure , cash flow, commodity prices
Trust and transparency
Reduce time/resources spent in validation with trust built into the fabric of transactions through shared data and smart contracts
- Calculation of contract cash flows/revenue (e.g. royalties) with triggering events captured in real time
- Elimination of costly intermediaries in payment processing
Smart tools
Make information in documents more readily accessible for faster, more accurate data analysis to optimise cost and allow real-time monitoring of thousands of transactions
- Review of contracts including IFRS 16 leases and IFRS 9 SPPI assessments
Your finance function: Automated and empowered
Considering the increasing demand for accurate and timely financial insights to strategic decision-making, are you future-ready?
Is your finance team tied up with repetitive, routine and non-productive tasks?
Is too much time required to close the books and prepare the financial statements?
Are there significant manual reconciliations and updating of multiple excel spreadsheets for closing and reporting?
Does your current accounting system involve significant manual workarounds and data re-input?
Is there a high error rate detected in the reports?
Do you face poor data visualisation and flat reports without flexible drill down options?
How can we help
The world is changing and we enable you to capitalise on these changes. With our in-depth knowledge and established credentials in finance, accounting and reporting advisory, we are well-positioned to support you in the automation of your reporting requirements.
We support you “from strategy through execution” to shape a future-ready finance function on your reporting automation journey through:
- Adjustment of tasks of the CFO and development of a strategy for the transformation of the finance function.
- Standardisation and automation of the process and harmonising your data, evaluation of where and when to invest with a focus on the cost-benefit ratio.
- Planning your technology roadmap.
- Integration of strategic, non-financial value drivers and information in financial and management reporting.
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