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SAP FINANCE
AUTOMATION
Finance automation is widespread these days, and many companies using SAP for finance know how crucial automation is. Enterprises look for platforms that can make processes faster, improve data quality, and ensure they follow the rules. Plus, they want it to be adaptable and able to grow with their changing needs.
If you're aiming to enhance your finance processes with SAP, we're here to help you tackle challenges and achieve better results.
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Challenges faced by Record to Report (R2R) teams
General Ledger
Poor data quality, complex account creation processes and strict governance requirements.
Journal Entries
The error-prone nature of manually performing daily journal entries, a time-consuming and monotonous task, is particularly intense during end-of-month rush.
Reconciliation
Discrepancies in financial data, managing large volumes of transactions, ensuring accuracy in balancing accounts, navigating complex financial systems, and meeting tight deadlines.
Closing
Coordinating the financial closing process, managing high volumes of activities, reconciling statements, adapting to regulatory changes, and addressing unexpected issues to ensure timely and accurate completion of closing tasks.
Reporting
​manual handling of ad-hoc reporting, using email to circulate Excel files for review and approval, posing risks such as potential inconsistencies, file corruption, and tracking difficulties, with the potential consequence of audit failures.
Challenges faced by other Finance teams
Asset Accounting
Complex regulations, difficulties in accurate asset identification and tracking, depreciation management intricacies, data accuracy concerns, and the need for effective disposal processes.
Accounts Payable & Receivable
Common challenges for both AP and AR teams include managing manual processes, ensuring data accuracy, overcoming communication issues, addressing late payments, integrating new technologies, staying compliant with regulations, and navigating vendor/customer relationship complexities.
Shared Services Centre
Dealing with evolving business needs, managing large volumes of transactions, and addressing issues related to data security and privacy.
The Solution - Automate Studio & Evolve
Precisely's Automate suite, consisting of solutions Automate Studio & Evolve (Formerly Winshuttle Studio & Evolve) is an SAP automation platform that supports finance digital transformation efforts ranging from simple desktop automation of mass data updates and changes to complex process automation for activities that cross multiple departments or have strict compliance and governance requirements.
The Automate Suite is an innovative automation platform for financial processes, designed to optimize critical tasks such as order-to-cash, asset accounting, and financial closings within your SAP environment. With its comprehensive suite of features including enterprise-grade automation, robust data stewardship, and seamless SAP integration, the Automate Suite empowers organizations to digitize strategic financial operations quickly and effectively. Its no-code, low-code approach ensures rapid implementation, while advanced capabilities for data cleansing enhance the integrity of financial data. By leveraging the Automate Suite, organizations can accelerate their digital transformation initiatives, driving improved productivity, compliance, and overall financial performance.
Key Automate Studio & Evolve Features
Automated Invoice Matching
By eliminating large portions of manual matching, our system enables you to match invoices with POs automatically, post matches to SAP, and alert users about non-matches.
Round-trip
The Round-trip feature is a powerful functionality that simplifies data management within SAP, making extraction, modification, comparison, and posting data back into SAP easy. This feature is especially valued by our customers due to experienced increases in data accuracy and agility in workflows.
No-Code/Low-Code Design
The Automate Suite is designed to be user-friendly by offering a no-code/low-code environment. This empowers users with varying technical backgrounds to create and deploy automation solutions without extensive coding knowledge.
Flexible
Automation
​The solution can adapt to your specific needs and allow you to choose the right type of automation for each finance process.
High-performance delivery mechanisms
Streamlining and standardizing crucial processes reduces transaction costs, enhancing speed, data quality, compliance, and overall efficiency.
Let's get into more detail about the Automate Suite. Contact us through the portal below!