Financial Process Automation
Technological advancements, customer expectations, and demographic shifts are propelling digital transformation in the Financial Services industry. In this super-competitive landscape for customer wallet share, it is essential for your digital strategy to enhance customer experience, improve processes and reduce operational costs.
What is FINANCIAL PROCESS AUTOMATION?
It’s the use of software tools to automate the business processes of the finance department, financial services firms, banks, credit unions, and other financial institutions. The processes include Accounts Payable Automation, Tax Preparation, Loan Onboarding Application Process, and Order-to-Cash Processes and much more, with minimal human intervention. It's not a replacement for your standard accounting practices and financial systems. Instead, it enables your team to spend time on strategic initiatives that drive value and profits, instead of processing mountains of spreadsheets, paper, digital documents & folders.
With Connectis Financial Process Automation Solutions, you’ll be well-positioned to streamline your financial processes and take advantage of early payment discounts, mitigate risks, ensure process execution, and document delivery.
Reduced costs, improved efficiency and optimized productivity for your sustained growth, process status and visibility
Eliminate manual and error-prone processes with seamless integration with your existing ERP systems
Speed up approvals with forms that pre-populate standard information pulled from a common database
Lighten your workload at the end of the month, and the pain of misfiled reports & calculations going haywire
Integrate otherwise siloed processes for better reconciliation, to enable a stronger relationship with your suppliers and customers
Onboard customers and enable transactions faster with real-time updates that accelerate business outcomes.
Accounts Payable Automation
Maximize your Finance Department's efficiency and improve your cash flow with Account Payable Automation processes.
You need to:
• Cut invoice entry costs and data input errors
• Reduce the time taken in the entry of invoices & purchase orders
• Maximize early payment discounts & minimize late payment charge
• Improve compliance through a strictly audited process
• Eliminate paper filing and storage costs
Connectis Financial Process Automation Solutions helps you optimize your processes with Invoice Capture, Document Archiving, and Fax Automation software. It helps in reducing labor costs, speeding documents to their proper repository or workflow, and provide audibility and tracking for compliance monitoring. Our flexible solutions are well suited process to capture and process data from structured and unstructured document types
Improve your Big Data Analysis and Clinical Data Management of Healthcare, Life Sciences and Clinical Trial Programs with Document Capture & Management Solutions.
Minimize Data Entry Errors, Find What You Need, When You Need It and Ensure Compliance with Tax Preparation Workflow Automation Solution
Tax season puts a significant strain on your department’s time and resources. For many business professionals, tax compliance presents cumbersome and time-wasting issues. There is a surging interest in automating data entry for T4 returns. Tax firms face chronic shortages of prepares and support staff during the peak tax season. The costs associated with the management and tracking of this paperwork are incredibly high.
You need to:
• Speed up the data capture from the client-provided tax forms into your tax applications
• Deal with the maze of payroll-related tax issues that consumes tremendous resources
• Stop wasting time and resources in hiring and managing temporary staff to go through and complete tax preparation each year,
• Cut cost in the routine tax preparation process
• Have better tracking and resolution of errors that arise from this intensive and repetitive manual processes
Loan Onboarding Application Process
Modernize your customer-facing business processes with capture enabled content management and workflow solutions
To deal with increased competition, escalating costs, changing government regulations, and simmering customer dissatisfaction, the banks & other lending institutions need to:
• Move from paper-based to paper-less loan origination process to cut costs, boost efficiencies, and deliver better service that builds stronger customer relationships.
• Capture documents and information electronically, automate manual steps and workflows, add security and control wherever paper is required, or information is transmitted.
• Simplify the sharing of information between business units and save time and money.
With Document Capture & Automated Data Collection, your Order to Cash Processes will Improve Customer Retention & Strengthen Vendor Relationships.
Manufacturing, Fast Moving Consumer Goods, and other industries receive hundreds to thousands of PO’s daily – each requiring fast and reliable processing. Manual processing these documents is expensive, time-consuming, and prone to human data input errors such and misfiled documents. Typical improvement objectives include:
• fulfillment performance including order accuracy, shipment accuracy, and on-time shipping,
• financial performance including reduction of receivables, collection management costs, and Days of Sales Outstanding, or DSO’s
CONNECTIS FINANCIAL PROCESS AUTOMATION SOLUTIONS meets all the requirements for assuring the security, integrity, and confidentiality of customers’ financial information.