Opportunities, recommendations, and tools for practice
Fresh innovation is necessary, and Intelligent Automation could hold the key
For finance professionals, the number of manual, inefficient and time-consuming processes is always high on the list of frustrations. Repetitive tasks are a burden, taking up precious time and energy, especially when workloads are heavy. In today’s digital world, with many finance professionals fully versed to the benefits that technology and automated processes can have on their personal lives, the answer is clear. Shouldn’t technology be able to take these types of tasks off their hands and enable them to work more efficiently?
Intelligent Automation could provide the answer.
Of those surveyed in the fourth annual Visma | Onguard FinTech Barometer, half of finance professionals (50%) know what Intelligent Automation means, with 53% having already adopted it within their organisation. For those yet to take the leap, enthusiasm to do so in the future appears to be sizable, with a further 37% of respondents planning adoption of the technology within the next 1-2 years.
This enthusiasm for Intelligent Automation may be partly explained by the limitations of current technology such as ERP systems or Excel. While these applications have historically provided a level of value to professionals, it ultimately remains the case that these systems are inflexible in their processes. Managing customisation, exceptions and deviations is a time-consuming affair, and many professionals as a result feel restrained by legacy systems and software. Understandably, many would rather free up time to adopt a more personal approach and build their relationship with their customers, helping to facilitate the payment of invoices.
With these factors in mind, it’s now imperative that the order- to-cash process is enhanced by introducing the appropriate technology-driven applications, enabling professionals to perform their jobs in smarter and more efficient ways. This whitepaper will explore the potential of Intelligent Automation and provide finance professionals with the tools to help implement it in their daily tasks.