Posts tagged with "process driven"

Process Driven Automation Accounting

How Process-Driven Automation is Changing the Game for Executives Around the World

CFOs continue to play important roles within their companies as they provide insight and make decisions that can completely alter the future of their companies. In 2012, the Association of Chartered Certified Accountants put out a report that included predictions about how the roles of CFOs would change in the coming years, and thanks to process-driven automation, their predictions are coming true. 

Big Changes in the Financial Realm

To put it simply, process-driven automation can be described as the use of one or more digital technologies to automatically perform a process designed to accomplish a specific goal. As technology continues to improve – and as computers and their software become more powerful – more and more processes are being automated every single day. Some of the biggest changes that have come as the result of process-driven automation in the financial industry include: 

  • Optimizing credit decisions. Banks and credit unions must assess their risk each time they open a new account or provide a loan. Once upon a time, this involved spending many days or even weeks analyzing the applicant’s credit. Today, thanks to the abundance of data and process automation, decisions can be reached in days – if not hours. 
  • Reducing financial risk. Process-driven automation can also help CFOs and accountants understand financial risk. With the wide variety of reporting options available, it is possible to predict how a business decision will influence revenue with greater accuracy than ever before. 
  • Improving customer service. Process-driven automation even improves customer service by giving customers the ability to review their accounts, apply for services, or gather information automatically, in real time, and without having to wait for assistance. 
  • Ensuring compliance. Larger companies that rely on various departments can also utilize process-driven automation to ensure compliance with safety or security regulations as well as companies’ own policies. 

The Role of the CFO

Not long ago, much of a CFO’s time was spent crunching numbers and comparing data in order to better understand the company’s complex finances. In other words, they spent much of their time reviewing financial data from the past and putting together reports that were easy for others to understand. Today, thanks to process-driven automation, CFOs can simply click a button to generate complex reports. 

In short, the role of the CFO has changed. Whereas they once looked into the past, accounting automation allows them to spend more of their time looking into the future. Because they no longer need to spend countless hours at their desks poring over spreadsheets and compiling months’ worth of data into understandable reports, they can spend more of their time concentrating on the more critical aspects of their jobs – analytics, fraud detection, compliance, and more. 

Finance executives in industries like banking, healthcare, and advising have always worked hard to provide data and insights designed to improve their companies’ revenue and facilitate growth. Process-driven automation has not replaced the CFO; rather, it has given them access to powerful tools that allow them to do their jobs more efficiently and accurately.

Category: Accounting Software, Blog

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Accounting Automation Software

Accounting Automation Software – Why Our Process Driven Solution Saves You Time

Flexi’s automated accounting solutions save your organization valuable time. Automated software means time added back to your calendar. With user-friendly, accessible software, clean and more accurate data, and simplified, easy-to-use report writers, accounting teams can work on strategizing, advisory, and new revenue streams with all the time they’ve bought back by using Flexi products.

Process-driven solutions

Flexi’s comprehensive financial management software simplifies and automates the entire accounting workflow process, without compromising security. Flexi’s open architecture meets even the most stringent security requirements yet allows data to flow seamlessly with any system, whenever and wherever business needs dictate.

Flexi delivers all the rich features you’d expect in a top tier accounting solution, but without the high cost. With quick implementation that can be deployed on-premises, in the cloud or in a hybrid environment, Flexi will not only simplify your accounting processes today, but also will have you ready to adapt quickly to market or business changes in your future.

Flexi allows you to:

  • Consolidate your company financials in real-time
  • Convert multi-currencies into a common currency
  • Pull data from different GLs into a standard format
  • Generate reports with just a few simple clicks
  • Distribute hundreds or thousands of reports with complete confidence
  • Answer all of your auditor’s questions

Industries

Flexi solutions enable companies in various industries to streamline accounting processes. These industries include:

Flex boasts flexible posting and open architecture, with rules-driven engines, enabling you to manage your accounting processes in a cost-effective and highly efficient manner.

Flexi software provides access to a fully integrated suite of applications, including general ledger, accounts payables, fixed assets, purchasing, and capital projects

As a Flexi user, you can save time with the added ability to analyze financial statements and track performance of your lines of business, profit centers, and locations.

Flexi solutions enable your organization to successfully compete in its dynamic and volatile marketplace. Automate and streamline your financial processes with the tools and controls to support complex regulatory requirements and changing market demands.

How can Flexi work for you?

Flexi may be the biggest, most trusted accounting software company in the industry right now. While Flexi sells directly to customers, Flexi’s software is also private labeled throughout the world by companies such as McKesson, StoneRiver, MajescoMastek, and Molina Healthcare.

To date, Flexi has 20,000+ users. Flexi’s automated software is process-driven and can help you and your business save–and repurpose–your time.

Learn more about Flexi accounting software solutions, or call 800-353-9492 to set up a demo today.

Category: Blog

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Process-Driven Financial Management Software

Why Having a Process Driven Accounting Software is Important

Flexi offers process-driven financial management software. Flexi’s comprehensive financial management software simplifies and automates the entire accounting workflow process, without compromising security. Flexi’s open architecture meets even the most stringent security requirements yet allows data to flow seamlessly with any system, whenever and wherever business needs dictate.

Flexi delivers all the rich features you’d expect in a top tier accounting solution, but without the high cost. With quick implementation that can be deployed on-premises, in the cloud or in a hybrid environment, Flexi will not only simplify your accounting processes today, but also will have you ready to adapt quickly to market or business changes in your future.

Process-Driven Financial Management Software:

Built by Accountants, for Accountants

Flexi’s powerful accounting software was built to simplify the complex processes that accountants face every day. Flexi understands how stressful the period close is, how complicated multi-entity books can be, and how frustrating audits are when accurate reporting is not easily available.

The team at Flexi scrutinized every step of the process and developed accounting solutions with a sophisticated level of financial intelligence built into every module, designed to simplify every step of the process.

Flexi’s single platform is designed to allow data to flow seamlessly; integrated from one process to the next (illustrated here). So when it comes time to close the books, you have the data at your fingertips to move easily from soft close, period close, and handle all the auditor’s questions along the way.

Flexi

Flexi offers a full suite of products to help your accounting staff perform and deliver–and save time while doing it.

With Flexi, you can streamline and automate labor-intensive financial management functions using accounts payable, general ledger, project management, and fixed asset solutions.

Flexi is an industry leader for a reason. With expertise in all aspects of accounting and 25 years experience, the Flexi team can offer the best of the best. Even better, Flexi offers cloud-based web services that not only streamline processes, but also make data accessible 24/7 from any device with an internet connection. Learn more about Flexi accounting software solutions, or call 800-353-9492 to set up a demo today.

Category: Blog

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