Financial Process Automation (FPA)
Increase productivity and reduce administrative times
Different companies have different areas. a key department, where processes and tasks must be consistently organised, is the Administration or Finance Department. Manual tasks must evolve to increase productivity and reduce administration times This is possible with SAP environment tools such as Financial Process Automation.
Financial Process Automation: objectives of the tool
Administration departments currently perform many manual tasks that slow down processes and decrease productivity in this area, such as entering invoices and orders manually into the system. SAP tools and technologies improve workflows and automate tasks to make financial processes more productive.
Financial Process Automation can save your Administration Department time. Paper invoices can be digitised and configured to be processed electronically in the future. This prevents accounts payable and billing information from being misplaced, which in turn prevents your company from incurring economic losses.
In short, Financial Process Automation offers three key advantages: order and invoice management; a fully professional and automated communication channel; and administrative cost savings.
Objectives of Financial Automation
Before implementing financial automation, we need to understand the company’s resources and environments in order to set the specific objectives that can be obtained with the tool. The most common reasons for implementing FPA in the SAP environment are:
- Data automation (reception, scanning, extraction and validation)
- Mobile adaptation of invoices to different formats
- Transparent documentation and information at all levels
- Payment process optimisation
- Multi-location invoice processing
- Improved communications with suppliers
Functionalities and advantages of FPA tools
This software includes different functionalities to assist in the reception and payment of invoices based on the specific needs of each company. After conducting a preliminary analysis, AmyPro adapts the Financial Process Automation to the objectives and characteristics of the processes required by the department and the company itself.
This software, which includes the automation of financial processes, offers advantagesover competitors’ products:
- It eliminates manual errors. This technology eliminates risk and affords greater precision and confidence in the processes of administration and finance departments.
- Integration with other areas. FPA offers the possibility of streamlining and simplifying joint processes with other departments.
- Time and cost savings. These departments handle enormous amounts of data and information, making processes longer and less productive. Introducing financial automation helps to perform tasks faster and reduce costs.
- Data security. Handling vulnerable information such as the financial data of companies and suppliers requires data security.
- Compliance with accounting standards. Financial information is standardised according to the accounting rules and regulations of each country, which prevents fraud and misplacement of invoices and keeps track of early payment discounts.
- Smart analysis. The company’s financial information and exact financial situation are known at all times. Financial analysis helps to visualise the profit index, earnings per share, sales, etc.
APF solutions – Document management
AmyPro integrates Financial Automation into the SAP environment
Make your company’s administrative and financial processes more effective by automating this department’s activities. AmyPro’s team of professionals can help you transition effectively, without complex processes.
Automate your financial processes and reduce risks. Call us for more information