Financial Process Automation (FPA) solutions fully integrate with any ERP system to optimise the purchase-to-pay, order-to-cash and record-to-report cycles. You’ll be able to capture and extract information from any source, automatically routing it into an approval workflow, and transferring information into your system of record. FPA eliminates delays with error free processes, and provides total visibility into data.
By breaking financial process silos, organisations systematically increase efficiency and better working practices among staff, suppliers and customers, driving strategic business outcomes with complete process control and insights at their fingertips.
Invoice automation is a natural first step towards process improvements for many organisations, but top performing organisations are 77% more likely to use a complete P2P solution. Automating the entire purchase-to-pay process, from purchase requisitions to payment approvals, offers opportunities for major gains in efficiency and cost savings.
With around 86% of sales orders still received non-electronically, processes that incorporate manual tasks make order-to-cash efficiency and A+ customer service nearly impossible. Automating sales order processing, order fulfilment and payment advice processing reduces Days Sales Outstanding, accelerates handling of receivables, and gives staff and customers up-to-date information about payment status.
Automating financial postings and master data management ensures data accuracy, timeliness, and transparency so organisations can make better business decisions, have more satisfied customers and ensure regulatory and user compliance.
Financial Process Automation from Twofold Ltd
Set your strategy for optimizing P2P processing and beyond
Your ERP system can’t do it all. And its limitations mean staff members have to do slow, error-prone, manual work to process information in disparate forms and from various sources –debilitating your decision-making with process blind spots and straining your customer and vendor relationships.