Automation Is Transforming Finance Operations
Finance teams across industries have seen a significant change with the advent of multiple payment options and automation. First, the size, complexity, and importance of data is growing at a breakneck pace because ever increasing numbers of transactions are moving to digital mode. As a result, the manual approach of managing finance operations using spreadsheets is proving insufficient for finance teams. Second, finance teams are in need for solutions and consequently are utilising automation software products. The technology around automation products is rapidly revolutionising finance processes by providing faster, cheaper, more accurate options. Automation software products utilise a combination of rules engine, machine learning algorithms, and artificial intelligence to automate business operations. This can include data processing, multi-party reconciliation, reporting, monitoring, auditing, and even compliance.
