In fast changing companies, accounting department is driving digital transformation to accelerate transaction processing. Digitlization of the accounting process helps internal customers get accurate information, streamline vendor invoices and process customer payments efficiently at a reduced budget.
Printing invoices from emails and entering transaction details in ERP still remain manual. Subject to typos and errors, the workload on staff accounts and supervisors to reconcile takes away valuable time from critical business functions. Companies that adopt transaction automation start to see immediate cost benefits in the range of 2x-4x per transaction.
RPA and AI enable end-to-end automation of accounts functions. Together, they integrate into existing applications and replicate user actions to transform AP and AR functions without the need for expensive software development.
Accounting Department
Automating accounting processes have multiple benefits in terms of costs, processing time and reduction in typos and errors caused when human beings manually process. The Business Labs provides complete automation services to enable your organization create, review and approve transactions accurately. With 100% electronic data stored and analyzed, supporting documentation is available readily with audit trails. Automated accounting environments save on manual audit cost.
- Transaction automation
- Journal review and approval automation
- Period close process management
- Automated reconciliation of GL to sub-ledger
- Variance analysis
- SOX control testing and reporting
Focus Areas
Accounts Payable
Vendor account maintenance, purchase order creation, invoice entry and validation, expense reimbursement, payable reporting, Aging to GL reconciliation.
Treasury Management
Bank statement reconciliation, variance management, cash position reporting, ACH/Wire payments, FX exposure and forecasting.
Accounts Receivables
New customer setup, dormant customer management, SO processing, automated collection preparation, payment processing, reconciliation.
Payroll
New employee processing, head-count calculation, allocations, vacation accruals, payroll processing and reconciliation.
Tax Operations
Sales tax scheduling, payment processing, tax accounting, compliance and reporting.
General Ledger Accounting
Manual J/E review and reconciliation, period close process, inter-company transactions, fixed asset management, trial balance reporting and analysis.
Why CFO and Controllers Choose Us
Accounting Focus
Our consultants bring strong experience in Finance and Accounting areas. Build next generation accounting department without compromising controls.
Automation Experience
We are business process SMEs with exeperience in Microsoft D365, NetSuite, Automation Anywhere, Nintex and Microsoft PowerApps.
Microsoft Dynamics 365 and NetSuite
With an average of 12 years of ERP implementation experiences, we bring insights to product features and functions that currently limits performance and automate processes to achieve critical objectives.
Project Delivery
We deliver projects on-time and above customer satisfaction.
Choose one that fits your organization
While we focus on solving transactional issues, you can have more time to focus on the core accounting responsibilities. We offer three customized programs to help you start the digital accounting journey.
- Transition to digital accounting
- Prepare to automate
- Business case and Best Practices
- ROI tool-kit
- RPA Controllership deep-dive
- Hands-on exercises
- Controls and Risk in RPA world
- Implementing first RPA project
- Walk through manual process
- Develop automated steps
- Conduct automated transaction
- Reap the automation benefits